Vertex is moving to Kraken's L2 Ink, will halt all other trading across other networks. Ink Foundation is acquiring Vertex's assets and will airdrop 1% of INK tokens to existing VRTX holders.

Vertex Protocol said it is migrating its decentralized exchange and trading stack to Kraken’s Layer 2 network, Ink, and will wind down its existing deployments on other networks. According to reporting on the announcement, the Ink Foundation will take over Vertex’s engineering team and trading infrastructure, including its order book, perpetuals engine, and money-market code, as Vertex shifts to building exclusively on Ink. The move also includes a token transition: Vertex said it will gradually phase out VRTX, burn unreleased and treasury-held tokens, and allocate 1% of Ink’s initial token supply to eligible VRTX holders via an airdrop tied to a snapshot date. The significance is that a well-known multi-chain DeFi venue is effectively becoming native to Kraken’s L2, which strengthens Ink’s pitch as an onchain trading hub while reducing Vertex’s presence across other ecosystems.

✨ AI-generated background, compiled from web sources — not editorial content.

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