Sushi Swap Developer Plans to Launch Decentralized Derivatives Exchange on the Cosmos Ecosystem
It is reported that Sushi Swap developer Sushi plans to launch a decentralized derivatives exchange called Vortex on the Sei blockchain of the Cosmos ecosystem…
It is reported that Sushi Swap developer Sushi plans to launch a decentralized derivatives exchange called Vortex on the Sei blockchain of the Cosmos ecosystem. This version is planned to be released in the second quarter of 2023, which is consistent with Sei’s expected release time on the main network. Meanwhile, Sushi recently acquired Vortex.
Sushi plans to conduct derivative transactions on the Sei blockchain in the second quarter
Interpretation of the news:
Sushi Swap, a decentralized exchange protocol on Ethereum, is planning to launch a new decentralized derivatives exchange called Vortex. This new exchange will be built on the Sei blockchain, which is part of the Cosmos ecosystem. Sei is expected to go live on the main network in the second quarter of 2023, and Vortex will be launched around the same time. This move is in line with Sushi Swap’s strategy of expanding its presence in the cryptocurrency market by introducing new products and services.
The Vortex exchange is expected to offer a wide range of derivatives products, including futures, options, and swaps, to users. It will operate in a decentralized manner, which means that it will be run on a network of computers rather than a central server. This will make it more secure and less prone to hacking, as there will be no single point of failure. In addition, the exchange will be completely transparent, so users will be able to see how it operates and how transactions are processed.
Sushi Swap recently acquired Vortex, which is a platform that allows users to trade derivatives on various blockchains. This acquisition is part of Sushi Swap’s broader strategy of expanding its offerings and acquiring other projects in the crypto space. It is expected that Vortex will be integrated into the Sushi Swap ecosystem, which will allow users to trade derivatives directly on the Sushi Swap platform.
The Cosmos ecosystem is a network of interconnected blockchains that allows for the interoperability of different chains. This means that developers can build applications on the Cosmos ecosystem that can communicate with each other, regardless of the blockchain on which they are built. This makes it an ideal platform for building decentralized applications, as it allows for greater flexibility and scalability.
In conclusion, Sushi Swap’s plans to launch Vortex, a decentralized derivatives exchange, on the Sei blockchain of the Cosmos ecosystem are a sign of the company’s commitment to expanding its product offerings and gaining a foothold in the crypto market. This move is expected to bring more innovation and liquidity to the derivatives market, as well as providing users with a more secure and transparent trading platform.
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