SushiSwap Acquires Derivatives Trading Platform Vortex Protocol With Plan To Launch In Q2
SushiSwap reported that it had acquired Vortex Protocol for an undisclosed sum. The on-chain exchange will be a new product under the SushiSwap brand and be built on Sei Network, a blockchain employing Cosmos’ infrastructure, according to the Decrypt report. Unreleased decentralized derivatives exchange Vortex Protocol will provide customers with 10x margin trading on a range of assets. In Q2 2023, Sei Network, a brand-new Layer 1 blockchain that focuses exclusively on decentralized trading apps, and Sushi’s recently purchased Vortex Protocol will both go live on the mainnet. This is also part of SushiSwap’s plan announced in January, although it’s not the foundation that Sushi built in the first place. The on-chain trading platform will be a new product that will fall under the DEX brand.
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