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SUSHISWAP ACQUIRES COSMOS-BASED TRADING PLATFORM VORTEX PROTOCOL



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SushiSwap Acquires Cosmos-Based Trading Platform Vortex Protocol

C
ATOM
-0.21%$13.77

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NewsDeFi

--------------------------------------------------------------------------------


SUSHISWAP ACQUIRES COSMOS-BASED TRADING PLATFORM VORTEX PROTOCOL


THE ACQUISITION OF VORTEX PROTOCOL ALSO MEANS SUSHISWAP WILL BE ROLLING OUT ITS
SERVICES ON COSMOS IN Q2 THIS YEAR.


By Liam J. Kelly
Feb 10, 2023Feb 10, 2023
2 min read

There's a lot of money at stake. Image: Shutterstock.
Create an account to save your articles.


SushiSwap is making good on its January promises to launch a derivatives trading
platform. But instead of building it from scratch, it’s gone out and bought one.

The popular Ethereum-based decentralized exchange (DEX) announced the
acquisition of Vortex Protocol today for an undisclosed amount.



Built atop Sei Network, a blockchain using Cosmos’ tooling, the on-chain trading
platform will come under the SushiSwap umbrella as another product and will take
a new name.

 Decrypting DeFi


WHY SOME SUSHISWAP STAKERS ARE JUMPING SHIP

Decrypting DeFi is Decrypt's DeFi email newsletter. (art: Grant Kempster)
SushiSwap, the popular decentralized exchange, made a tough call this week as it
navigates the ongoing bear market. On...

NewsDeFi
3 min read
Liam J. KellyDec 10, 2022Dec 10, 2022
Create an account to save your articles.

Vortex Protocol is a not-yet-launched decentralized derivatives exchange and
will offer users 10x margin trading on a variety of assets. Sei Network and
Sushi’s newly-acquired Vortex Protocol will both launch on mainnet in Q2 of
2023.

“This acquisition is a direct partnership between the SEI, Vortex, and Sushi
teams to help bring to market the first fully on-chain perpetual DEX via Sushi,”
SushiSwap’s CEO Jared Grey told Decrypt.

The co-founder of Sei Network Jayendra Jog said that conversations around the
acquisition began at the end of last year.


SUSHISWAP TO LAUNCH ON COSMOS

The move also means that SushiSwap will be one of the first Ethereum
applications to make the move over to the Cosmos ecosystem. Another
Ethereum-native derivatives exchange called dYdx has also signaled that it would
aim to launch on Cosmos in Q2.

The advantage of building on Cosmos is that it lets developers spin up
blockchains specifically tailored to a project’s needs. From modifying the
network's consensus mechanism or opting to run a native validator set (rather
than turn to Cosmos for shared security), it’s all in the developers' hands,
says Jog.


SUSHISWAP AXES LENDING PROTOCOL AND TOKEN LAUNCHPAD

Ethereum-based decentralized finance (DeFi) protocol SushiSwap has made the
decision to shut down Kashi, its lending protocol, and Miso, its token
launchpad. Founded in 2020, SushiSwap allows ...

NewsDeFi
2 min read
Stephen GravesJan 2, 2023Jan 2, 2023
Create an account to save your articles.

“We chose to make use of the Cosmos SDK [Software Development Kit] because it's
extremely modular and extremely easy to get a chain off the ground,” the Sei
Network co-founder told Decrypt. “And then you can tweak whatever you need to
tweak to make that chain better.”


SUSHI
-68.04%$1.307

--------------------------------------------------------------------------------

24H7D1M1YMAX

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'23$0$1$2$3$4$5

Price data by
SUSHI price

And this is precisely what Sei and Vortex have done.



Purpose-built for spinning up decentralized exchanges, Jog explained that the
Sei team has adjusted block processing on the chain, decreased finality to 300
milliseconds, and introduced a feature called parallelization that boasts up to
22,000 orders per second on its internal testnet.

These features, and “a cross-chain thesis that we resonated with,” are all part
of what made the latest acquisition so enticing, said SushiSwap’s Jared Grey.


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