4️⃣Vertex on Sei
Discover the power of unified orderbook liquidity with the release of Vertex on Sei Network.
Vertex Edge has landed on Sei Network, the fastest Layer 1 for trading!
Sei users can now trade over 50 spot and perpetual markets, benefiting from Vertex’s unmatched speed, deep cross-chain liquidity, low fees, and exciting SEI trading rewards.
What Can You Do with Vertex on Sei, Anon?
Originally launched on Arbitrum in April 2023, Vertex has rapidly gained traction amongst an increasingly competitive DEX landscape. To date, Vertex has facilitated over $110 billion in trading volume across spot and perpetual markets.
Vertex is a hybrid DEX featuring a Central Limit Order Book (CLOB) fused with an Automated Market Maker (AMM), offering blazing-fast trading speeds and a vertically integrated product suite spanning:
Spot Trading
Perpetual Markets
Money Markets
The Vertex sequencer powers seamless trade execution, delivering low-latency performance of 5-15 milliseconds, rivaling most centralized exchanges – all while preserving self-custody and on-chain settlement.
Everyone loves speed, but it's not always about the speed, anon.
Sei users can enjoy a variety of distinct features originating from Vertex’s bespoke technical design.
Whether you prefer turbo-looping with leveraged spot borrowing, enjoy the flexibility of managing multiple accounts under one wallet, or like fine-tuning your risk / reward ratio with portfolio margining across multiple open perp positions, the choice is yours.
Key Vertex Features at Your Fingertips
Whatever your flavor of trading might be, Vertex’s suite of powerful trading features is now at Sei users’ disposal.
Trade 50+ Spot and Perpetual Markets: Tap into deep cross-chain liquidity with a single click via Vertex Edge.
Blazing-Fast Execution: Enjoy near-instant trade execution speeds of 5-15 milliseconds.
Streamlined Portfolio Management: Unified cross-margining across all your trades—on Vertex, your portfolio is your margin.
One-Click Trading: Sign one approval transaction at the start of a session and unleash the full power of Vertex with near-instant trade execution.
Multiple Accounts Under One Wallet: Create and manage up to four accounts under one wallet, each with independent positions and risks.
Earn, Borrow & Lend: Utilize embedded money markets to earn yield on USDC deposits and borrow or lend assets.
Cross-Chain Deposits: Simplify asset management across chains with Axelar’s Squid Router, enabling quick and easy deposits from over eight chains directly into Vertex Edge (Sei).
Trade GMCI 30 & MEME Indices: Speculate on crypto-native indices directly on the Vertex app.
Customizable Trading Interface: Tailor your trading experience with Notifi alerts, personalized layouts, and more.
Margin Manager: Keep a bird’s-eye view of your account’s health and manage risk effectively.
Zero Maker Fees: Enjoy trading without maker fees.
Ultra-Low Taker Fees: Pay only 0.02% (2 bps) in taker fees.
HFT-Friendly API & SDK: Built for high-frequency trading with support for Typescript, Python, and Rust.
Edging on Sei – Orderbook Harmony
Earlier this year, Vertex expanded into a multi-chain DEX, introducing Vertex Edge – a revolutionary synchronous orderbook liquidity product.
Vertex Edge aggregates liquidity across supported chains, matches orders cross-chain, and settles them natively on-chain. Think of it as a “network of exchanges” connected by a superhighway of liquidity.
With Vertex Edge, every new chain added enhances the overall liquidity pool available for users to trade against. When you trade on Vertex Edge (Sei), you’re tapping into the combined liquidity of:
Arbitrum
Blast
Mantle
Sei
Example:
There are 4 Vertex instances (Arbitrum, Blast, Mantle & Sei).
Alice submits a market order (taker) on Sei to long the ETH-PERP at price X.
The sequencer (Edge) matches the order against the best liquidity available after examining the orders aggregated across all 4 of the Vertex Edge instances.
The best offer is from John who is trading on Arbitrum.
John is now short on Arbitrum.
Alice is long on Sei.
In the middle, the sequencer (Edge) takes equal opposing positions on each chain. Edge is now short on Sei and long on Arbitrum.
Edge injects Alice’s matched order into the sequencer queue of batched orders to render and settle on-chain to Sei — simultaneously sending John’s order to be settled on Arbitrum.
Over time, Edge continually builds long and short positions on local chains.
Periodically, liquidity between chains is aggregated and settlement will be made on the back-end.
As the newest chain supported by Vertex, Edge, Sei users are afforded the advantage of immediately gaining access to the combined maker liquidity from Arbitrum, Blast, and Mantle.
As a result, Sei traders receive tight spreads and deep liquidity from day one.
So, when you’re trading on Vertex Edge (Sei), you’re actually trading against users on multiple chains along with other Sei traders via a shared orderbook layer with a unified reservoir of liquidity.
Whether or not a taker order originating from Sei matches with a maker on another chain or on the same chain is simply determined by the best available liquidity. Edge takes care of the rest.
Edge’s ability to match new taker flow from Sei with maker liquidity on other Vertex Edge chains eases the challenge of bootstrapping orderbook liquidity in the Sei ecosystem.
Without an established base of liquidity sourced from multiple chains, bootstrapping liquidity on an orderbook DEX would otherwise be a much more challenging task.
That’s right, Seilors! You can start trading your favorite perps on Vertex right out of the gate with tight spreads and deep liquidity – the Vertex way.
Did Someone SEI Trading Rewards?
Vertex Edge on Sei is launching with a bang! For the next six weeks, $1.5 million worth of SEI tokens will be up for grabs as trading rewards, available exclusively for Sei traders.
Today marks the beginning of SEI Season 1!
SEI Season 1 Reward Parameters:
Duration: August 14th → September 25th, 2024
Total Rewards: 5.1 million SEI tokens.
Weekly Rewards: 850K SEI tokens.
Eligibility: Taker-orders only, with rewards capped at 75% of the taker fee paid
For example, if you pay $100 in taker fees during a week, you could earn up to $75 in SEI rewards.
Regarding taker eligibility, a taker order qualifies as any order that immediately crosses the book and takes liquidity, such as filled market orders.
Limit orders are not mutually exclusive with taker orders either.
For example, a trader might place a limit order that does not immediately match any existing orders, adding liquidity to the market. Later, the same trader might execute a market order or a limit order that matches an existing order, taking liquidity and acting as a taker.
***Please note that no single wallet can claim more than 20% of the total rewards available.
Welcome to the future of trading, Seilors 🫡
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