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Vertex to Discontinue VRTX Token and Migrate to Kraken Layer 2 Network Ink

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$VRTX
Crypto Media
436Words
Jul 8, 2025

On July 8, The Block reported that the Arbitrum-based decentralized exchange Vertex Protocol will discontinue its $VRTX token and rebuild its DEX exclusively on Ink, a Layer 2 network incubated by Kraken. As part of the migration, Vertex developers will also discontinue the $VRTX token. A snapshot is planned for Tuesday, July 8, to determine eligibility for the INK airdrop. The airdrop will provide $VRTX holders with 1% of the Ink genesis coin supply and enhance their access to upcoming incentive programs. Funds and unvested $VRTX will be burned. Web3 M&A platform Acquir.Fi facilitated the deal between Ink and Vertex. However, the financial details were not disclosed by either party. [Deep Tide TechFlow]

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