Sushi to Launch the Vortex Derivatives Exchange on Sei in the Cosmos Ecosystem

Recently, Sushi, the developer of the SushiSwap decentralized exchange, acquired Vortex and plans to release it on the Sei blockchain in Q2 2023.

Vortex is a decentralized derivatives exchange that is built on the Sei blockchain in the Cosmos ecosystem. It is expected to be one of the first applications on Sei, which is a Layer 1 blockchain designed for on-chain trading in the Cosmos ecosystem. Vortex is a fully on-chain perpetuals exchange that brings features that have so far been limited to centralized exchanges (CEXes) to the decentralized finance (DeFi) space.

The release will coincide with the expected mainnet launch of Sei. Vortex will support peer-to-peer order matching and use of cross-collateral, which will be done fully on-chain. Sushi's cross-chain ambitions are evident in this move, as it aims to expand its offerings in the derivatives space by moving from Ethereum to the Sei network.