A novel concept of decentralized exchange (dex) has now been implemented on Arbitrum, often referred to as Vest Exchange. The platform was recently released by the developers, who noted that it seeks to bring democratization and sustainability to perpetual contract trading. The team behind Vest Exchange also mentioned that the platform has received backing from major investment firms, such as Jane StreetQCP Capital, Big Brain Holdings, Pear VC, Cogitent, Moonshot Research, Fugazi Labs, Ascendex, Builder Capital, Infinity Ventures Crypto and Robert Chen (Ottersec).
Vest Revolutionizing the world: Our goals Defi Permanents with a cutting edge danger engine and backing by main funding companies
The founders of the Vest Exchange, a new dexterity platform built on the Arbitrum Layer two blockchain, announced on January 28, 2023 that the project has ceased to stay in stealth mode. Apart from this, the team also revealed that the venture has secured a seed round from firms such as Jane StreetQCP Capital, Big Brain Holdings, Pear VC, Cogitent, Moonshot Research, Fugazi Labs, Ascendex, Builder Capital, Infinity Ventures Crypto and Robert Chen (Ottersec). Moreover, a separate blog post was also published which explained the project in detail.
Vest believes that decentralized exchange platforms will be the key to the advancement of the decentralized financial ecosystem. However, the team at Vest Exchange opines that the current leading exchanges are limited due to “high barriers to market listing, lack of risk management, and unclear risk and return for liquidity providers.”
Vest Exchange aims to solve this by using a unique risk engine. In addition, the platform also incorporates modern strategies and analysis to “unlock new illiquid markets faster than any other centralized or decentralized exchange.” The blog post reads:
We anticipate Vest Exchange to raise the bar in perpetual contract trading by giving access to unique trading strategies in all markets.
Arbitrum is a layer 2 project and currently the fourth largest blockchain in the decentralized finance space, with a total value locked of $1.25 billion. The largest protocol on the Arbitrum network is a way to lock your entire value. GMX is a decentralized derivatives exchange that connects with the Avalanche Blockchain Network. The blog post also mentions that the launch notes, Discord and Testnet will be released soon. In addition, a analysis board, analysis.vest.xyz has been launched for decentralized finance analysis.
How do you feel about Vest Exchange’s efforts to bring democratization and sustainability to perpetual contract trading and shaking up the decentralized finance arena? Let us know in the comments section below.
