What Is Vortex DeFi (VTX)?

Vortex DeFi operates as a DeFi (decentralized finance) platform developed to provide access to various DeFi tools on a single platform. According to the platform litepaper, the primary focus of Vortex DeFi is to build a robust way of communication between Polkadot and Ethereum networks. The platform seeks to generate maximum benefit for users through yield farming by bridging the gap between the two networks. Also, the Vortex ecosystem wants to introduce a suite of applications to enable Polkadot and Ethereum network users to perform numerous activities. The activities can be NFT (non-fungible token) asset tracking, lending, borrowing, easy cross-chain swapping of crypto assets, and insurance of cryptocurrencies.

As stated in the litepaper, Vortex DeFi leverages yEarn Finance protocol to help provide the network yield farmers with optimized yield. (yEarn Finance refers to a group of protocols designed to allow users to optimize their profits on digital assets via trading and lending services.)

The Vortex DeFi ecosystem acts as a web-based application that meets the requirements of the existing DeFi market. The platform has launched features aimed at resolving major decentralized finance, such as cross-chain swapping, high entry barriers, etc. Platform features include:

• VSwap: A seamless peer-to-peer (P2P) cross-chain digital assets swap feature

• VPay: Enables crypto token trading with a credit card or a traditional financial institution account

• VYield: yEarn Finance integration aims to allow yield farmers to leverage on lending rates for farming profits

• VNFTs: Provides NFT asset management and swaps within the Vortex platform

• VInsure: Vortex-deployed market-leading insurance protocols to insure user DeFi exposure VTX is the ticker for Vortex DeFi’s native token. VTX can be used to incentivize the token holders in the following ways: for rewarding users that provide liquidity; for staking on the Vortex DeFi platform; and for reducing the platform fee. VTX is also a deflationary token, which means that the token supply decreases with time for an increase in the token’s market value.

History of Vortex DeFi (VTX)

Vortex DeFi was launched in 2020 by Rahul Singh. Rahul has more than 12 years of experience in the project management sector. The VTX token has a total supply of 100, 000,000 VTXs.