Announcing our Testnet Launch on February 28th
We are delighted by the community’s positive feedback and interest since sharing our vision for Vertex Protocol last month.
Empowering users and protocols to fulfill their potential is what drives us. Building fast and building impactful products that last is our mandate. With this, we’re excited to announce Vertex’s testnet launch on Febrarury 28th.
Vertex Protocol Testnet 🏗
Building is the process of testing, learning and innovating. Testnets serve as a critical playground for smart contracts, debugging and gathering user feedback.
The Vertex testnet MVP will be the first opportunity for Terra natives to trade derivatives using leverage within the ecosystem. Anyone and everyone is encouraged to try it out, and a focus group of end-users will be formed to gather feedback. It is also an opportunity for our team to battle-test the intricacies of decentralized derivatives.
The Testnet launch will consist of two phases, with the first being a vAMM for FX perpetual swaps. Our MVP will encompass a simple, user-friendly dashboard for account management and a platform to trade derivatives and provide liquidity. The second phase will introduce FX spot markets. Impromptu UI/UX updates and feature improvements will be done on a continuous basis.
🗓 Phase 1 February 28th | Phase 2 TBA
Together, these phases represent the building blocks for Vertex’s liquid FX markets and a multi-currency solution for Anchor deposits. Given the flexibility of this design, these phases also lay the foundation for a number of different DeFi use cases and products.
The initial features and functionality of Phase 1 are outlined below. Whether you’re experienced with derivatives or new to DeFi, our documentation and user manuals will help get you onboarded. We will be sharing more information on this, along with some UI/UX previews in the weeks leading up to the launch.
General & Dashboard
- Wallet connect: Terra Station extension and mobile (Terra testnet)
- Deposit & withdraw $UST collateral (give yourself test funds)
- Account value, leverage, margin usage, buying power and free collateral
- Open trades and LP positions
- Supported pairs: EUT-UST PERP, CHT-UST PERP, AUT-UST PERP
- Place long & short orders by choosing an amount or desired leverage
- Monitor current position’s value, liquidation price, funding and PnL
- Line price charts (candlestick & charting tools to be added in the future)
- Supported pools: EUT-UST PERP, CHT-UST PERP, AUT-UST PERP
- Provide & withdraw LP positions (single asset $UST deposits)
- Pool details: commission, liquidity, position value and PnL
In addition to being publicly accessible, we will be putting together a focus group of ~100 testers to help us better understand what stakeholders are looking for. The group will consist of a diverse set of experienced and non-experienced Terra DeFi users. They will be asked to provide feedback and input via an anonymous survey which we will then use to shape the future development of Vertex.
If you’re interested in participating, please fill out this form: https://forms.gle/Fg9VL8yksfhyWex1A