Vertex Protocol is a decentralized FX protocol designed for multi-currency spot and derivatives trading.

Vertex targets the increasing demand for multi-currency DeFi apps and on-chain FX markets. At the moment, most DeFi liquidity is tied up in US-Dollar stablecoins. Although other non-USD stablecoins are available, there is no established way to trade across different fiat-linked tokens, which has left their liquidity limited and reduced their uptake and practical use. As a result, traders who want to manage currency exposure between USD-denominated DeFi holdings and their local currencies have limited choices.

Working at the overlap of the $5 trillion-dollar FX market and cryptocurrency derivatives, Vertex has created the first setup for stablecoin perpetual swaps to trade on Terra. It plans to provide a lineup of leveraged FX offerings, centered on Terra’s stablecoins, so crypto participants can trade, pool, borrow, and lend currencies through stablecoins in a way that resembles TradFi products.

Vertex is built on the Terra blockchain, drawing on Terra’s expanding DeFi footprint and its collection of decentralized stablecoins. With high throughput and low fees, Terra supports smooth cross-border value movement, positioning it as a strong environment for a new multi-currency stablecoin protocol.