Vortex Protocol Acquired by SushiSwap on February 10, 2023
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According to media reports, decentralized exchange SushiSwap acquired Vortex Protocol on February 10, 2023. This acquisition marks a significant strategic move for SushiSwap in the derivatives trading sector.Vortex Protocol is a decentralized derivatives trading protocol built on the Sei Network, specializing in services for the IBC (Inter-Blockchain Communication) ecosystem. The protocol offers features similar to those of centralized exchanges, including lending, cross-collateralization, and cross-margin trading, but operates in a decentralized and permissionless manner.This acquisition holds considerable significance for the broader DeFi ecosystem. By integrating Vortex Protocol’s technological strengths, SushiSwap will be able to offer users a more diverse range of derivatives trading services, further expanding its influence within the DeFi sector. Additionally, this development underscores the ongoing maturation of the decentralized derivatives market, as more projects focus on opportunities in this space.
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| fundraising-Round | fundraising-amount | fundraising-valuation | fundraising-time | fundraising-investor |
|---|---|---|---|---|
| M&A | -- | -- | 2023-02-09 | SushiSwap |
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- 2023-02-10Vortex Protocol was acquired by SushiSwap
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