Vertex Protocol ($VRTX) Token Airdrop Guide: LIVE NOW!

Vertex Protocol’s testnet is currently live, and they are planning to launch their $VRTX token. This means that an airdrop is very likely. In this article, we will explain what Vertex Protocol is and what you can do to position for the airdrop.

Vertex Protocol ($VRTX)Airdrop Step-by-Step Guide

Here’s how to get a potential Vertex Protocol ($VRTX) airdrop:

  1. Connect Arbitrum Goerli to your Wallet
  2. Claim Testnet Faucet ETH
  3. Claim Extra Testnet Funds on Vertex Protocol
  4. Deposit Funds to Start Trading
  5. Trade on Vertex Protocol

See below for more details.

What is Vertex Protocol?

Vertex Protocol is a decentralized exchange (DEX) that offers fast and efficient cross-margined spot and derivatives trading, lending and borrowing for yield or leverage, and a robust risk engine for capital efficiency and risk management. It features an easy-to-use UI/UX for both Web3 and Web2 preferences, industry-leading fees, and complete self-custody of funds.

Built on Arbitrum, Vertex leverages smart contracts for optimal liquidity and trading opportunities, multiple UIs catering to traders of different levels and goals, a high-quality software development kit, future tokenomics for strong alignment of incentives and governance rights, and seamless bridging and on/off ramp experiences directly in the dApp. With Vertex, users can enjoy a frictionless decentralized trading experience while having full custody of their own funds.

Does Vertex Protocol have a Token?

Yes, Vertex Protocol confirmed in their litepaper that they are planning to launch their $VRTX token. It is a governance token that allows users to participate in the protocol in a decentralized manner. Additionally, Vertex will create two other tokens: xVRTX, a liquid staking token, and voVRTX, a voting token that cannot be transferred. Both tokens are crucial in rewarding stakeholders at different levels of governance and participation based on their level of commitment to the protocol.

How to Receive Potential $VRTX Airdrop?

Time needed: 15 minutes

The best chance to receive a potential $VRTX airdrop is to interact with the Vertex Protocol testnet. Here’s a step-by-step guide on how to position yourself for the airdrop:

  1. Connect Arbitrum Goerli to your Wallet

    Go to app.vertexprotocol.com/portfolio/overview, connect your MetaMask and switch to the Arbitrum Goerli network. It will automatically connect for you.

  2. Claim Testnet Faucet ETH

    Copy and paste your wallet address at faucet.triangleplatform.com/arbitrum/goerli to claim 0.01 testnet ETH on Arbitrum Goerli. You will need this for gas fee in the next step.

  3. Claim Extra Testnet Funds on Vertex Protocol

    After you have some testnet ETH on your Arbitrum Goerli, go to app.vertexprotocol.com/portfolio/faucet. You can mint testnet wBTC, wETH, and USDC here. You can mint as many times as you like, but keep in mind they have no monetary value.

  4. Deposit Funds to Start Trading

    Go to app.vertexprotocol.com/portfolio/overview and click “Deposit”, and then approve and confirm the transaction. Keep in mind your deposits may take a few minutes to be reflected in balances.

  5. Trade on Vertex Protocol

    Once your funds are deposited, you can start trading on the spot market or perpetuals. Since these are testnet tokens, feel free to go crazy on those trades! We recommend making at least 10 trades per day to secure a position for the airdrop snapshot.

    You can check your open orders at app.vertexprotocol.com/portfolio/orders, your perpetual positions at app.vertexprotocol.com/portfolio/positions, and your account balance at app.vertexprotocol.com/portfolio/balances.

Airdrop Review

When reviewing an airdrop, there are several factors to consider. First, the likelihood the project will even do an airdrop in the first place. Then, to look at how many tokens the project intends to allocate towards airdrop campaigns, as well as the difficulty in participating in their airdrop. It is also important to look at the utility of the token so that there will be an actual use and purpose in participating in the airdrop in the first place. Finally, a factor to consider when reviewing an airdrop is whether the airdropped tokens are subject to any lockup period.

Likelihood of Airdrop: Vertex Protocol has not officially announced an airdrop. However, their testnet is currently live and they are planning to launch the $VRTX token, which means an airdrop is very likely.

Airdropped Token Allocation: Their tokenomics is not yet available, so this information is unknown for now.

Airdrop Difficulty: It is very simple to qualify for the airdrop. All you have to do is connect to the Arbitrum Goerli network in your MetaMask, claim testnet tokens, and start trading.

Token Utility: The $VRTX token is a governance token that enables users to participate in Vertex Protocol in a decentralized manner. The protocol will also introduce two other tokens: xVRTX, a liquid staking token, and voVRTX, a voting token that cannot be transferred. These tokens will be used to reward stakeholders at different levels of governance and participation based on their level of commitment to the protocol.

Token Lockup: The $VRTX token lockup period is unknown for now.

REVIEW OVERVIEW
Likelihood of Airdrop
Airdropped Token Allocation
Airdrop Difficulty
Token Utility
Token Lockup
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Ronal is a Senior China Blockchain Correspondant who has been covering the Chinese blockchain industry since its inception. He has written extensively on the subject, and his work has been featured in some of the world’s leading publications. Ronal is an expert on the Chinese blockchain market and has a deep understanding of the technology and its potential applications.
vertex-protocol-vrtx-token-airdropVertex Protocol has not officially announced an airdrop, but with their testnet live and plans to launch the $VRTX token, an airdrop is likely. Tokenomics and lockup details are currently unknown, but qualifying for the potential airdrop is simple: connect to the Arbitrum Goerli network in your MetaMask, claim testnet tokens, and start trading.