Vertex Protocol Migrates to Ink Layer-2, Phases Out VRTX Token
- Vertex shifts from Arbitrum to the Kraken-backed Ink network.
- VRTX holders receive an INK airdrop incentive.
- Vertex’s migration reflects rising competition in decentralized exchanges.
Vertex Protocol announced its migration to the Ink Layer-2 network supported by Kraken, marking the end for its native token VRTX. The transition involves an INK airdrop for VRTX holders and begins a new chapter on July 8, 2025.
The migration underscores Vertex’s strategy to adapt to growing competition within decentralized finance. Market responses include a notable drop in VRTX’s value, indicating the market’s acknowledgment of the changes underway.
Vertex Protocol’s Migration
Vertex Protocol, co-founded by Darius Tabai, is migrating its decentralized exchange from Arbitrum to Ink, a Kraken-supported Layer-2 network. The shift includes retiring the VRTX token and absorbing the engineering team by the Ink Foundation.
The decision by Darius Tabai highlights competition in the perpetual trading space, prompting Vertex to join Ink’s ecosystem. The migration phase involves a scheduled snapshot for VRTX holders to receive an INK airdrop.
“The reason we’re making this move now is that competition in the perp space has ramped up exponentially. In this landscape, we are really excited by the Ink vision for their L2 involving a full vertical integration of a set of apps and believe it’s the best move for the protocol to join the Ink ecosystem.” – Darius Tabai, CEO & Co-founder, Vertex Protocol
The shift has caused a 40% plunge in VRTX token value, impacting Arbitrum’s network as it loses a top decentralized exchange. It’s a strategic realignment towards Kraken’s backed Ink network, which may lead to slower Arbitrum growth.
The financial implications include burning of VRTX tokens and potential jumps in INK’s value once distributed. Vertex aims to improve capital markets integration by joining the Ink infrastructure, following models set by similar protocol migrations.
Future regulatory or technological outcomes may affect decentralized finance’s landscape. Historical trends show some layer-2 migrations succeed in enhancing network efficiency. Kraken’s backing could potentially provide stability and growth for Vertex within the new Ink ecosystem.
