With the growth and expansion of the decentralized finance (DeFi) market, we have seen the creation of new crypto protocols. Through these platforms, users can swap, stake and earn crypto tokens. However, it might not be so easy for users to choose a DeFi protocol.
Indeed, selecting a platform would require users to analyse each of the details of dozens of DeFi protocols. This is usually not an easy task and it might require a lot of time from users. This is where Vortex DeFi wants to unlock the world of DeFi through its aggregating capabilities.
In this guide, we will go into all the details about Vortex, how this platform is currently working and why you should care about it. Without further ado, let’s start with the Vortex review.
What is Vortex?
Vortex DeFi is a decentralized platform that aims at bringing together the leading protocols and platforms for users to get the most valuable information about the most advanced DeFi protocols in the world.
The Vortex ecosystem supports various popular DeFi protocols such as MakerDAO, Compound, AAVE, Yearn.Finance, Curve, Uniswap, Idle, Nexus Mutual, Kava and 1inch, among others. Vortex works as a one-stop gateway and DeFi aggregator for users to get access to accurate data from the above-mentioned protocols.
The company has been working now for almost a year. During the first months after being created, they worked in stealth mode in order to build a minimum viable product. Over the last few years, there have been several Initial Coin Offerings (ICOs) and projects that were launched to the market without a project or live product.
This is where Vortex wanted to make a difference. The professional team behind Vortex DeFi created a product before being able to do an IDO on Duckstarter in February 2021. Indeed, the IDO was an immediate success. The team was able to create a 25x return to investors.
Vortex DeFi Features
The Vortex Ecosystem is divided into different parts that include the following:
- V-Pay: fiat ramps to buy and sell tokens with credit cards or wire transfers
- V-Swap: peer-to-peer crypto asset swap platform
- V-NFTs: asset management and swaps using the Vortex Ecosystem
- V-Yield: earn rewards for depositing your cryptos
- V-Dex: DEX for blockchain tokens and DeFi assets
- V-Insure: Insurance for DeFi exposure
The ecosystem is fully connected and it offers users a seamless experience to get access to the most advanced crypto DeFi solutions in the market. The following are just some of the most important product features that you can currently find on Vortex DeFi.
DeFi has enabled the crypto community to borrow assets using digital currencies as collateral. Thanks to the use of smart contracts, users deposit the collateral and they receive funds that can be used anywhere they want. The user would have to give back the funds plus interest in order to get their collateral back.
With a wide range of DeFi solutions, it is also necessary to be protected to operate knowing that you are covered in case of unwanted events. With an insurance solution, you will get covered against smart contract failure and reduce your risk and exposure to some of the most profitable but also risky platforms.
Lend & Earn
If you prefer to earn rewards on your crypto, you can also do so thanks to Vortex DeFi. Users can lend their funds and earn rewards on the crypto deposits they make. You will have some of the most optimised interest rates currently available in the industry. In this way, you would not have to be worried about searching for the most advanced platforms.
One of the most important things in the cryptocurrency market is making sure that our assets are under our control. When we use crypto exchanges (centralized platforms), we do not own our private keys. That means that the platform itself is handling and protecting our funds rather than us.
This is why Vortex works with a non-custodial approach. You are the owner of your assets, which will be stored on a contract wallet. Vortex does not have access to these funds. Remember, “not your keys, not your crypto.”
Furthermore, swapping is one of the main services offered by DeFi crypto platforms. You would also get access to it by using instant liquidity from multiple decentralized exchanges. The old times searching for the best prices and the largest liquidity are now gone. Vortex makes it faster and simpler for you to get the assets you want with the liquidity you need.
Finally, Vortex DeFi is also offering users the possibility to use a single interface for all the DeFi needs you have. This reduces the hassle of a huge UI learning curve and enables users to have a unique platform for all the needs they have.
The team of a platform is one of the most important aspects of a crypto project. This is also one of the aspects where VortexDeFi becomes a clear leader.
Rahul Singh is the founder of the platform. He is a product manager with more than 12 years of experience in the aerospace and retail industries. So as to offer some of the best solutions to clients, he decided to bring his technical expertise and knowledge into the DeFi market to build the Vortex DeFi platform.
Other team members include Lester, who works as the strategic advisor, Sunil, the technical lead and a group of three developers and a community manager.
Vortex DeFi Roadmap
Let’s now move to the last part of this Vortex review to analyse the roadmap and which are the main plans of this project for the coming months. With the first milestone achieved (V-Yield), the team is planning to launch the V-NFT solution in September.
This would make it possible for users to manage different NFT assets within the Vortex platforms through its integration with Opensea, one of the most popular NFT marketplaces in the world right now.
The third milestone includes two other products: V-Swap and V-Insure. The V-Swap milestone includes an aggregation with the 1inch exchange and swapping for ETH, Polygon and the Binance Smart Chain (BSC) chains. The V-Insure product would also be connected and integrated with Nexus Mutual, one of the main DeFi protocols for the insurance industry. This is expected to take place in October.
Finally, the V-Pay integration is expected for December this year, through a unique integration of payment gateways. The goal is to enable a fiat-ramp on the Vortex ecosystem. This would solve one of the main challenges of the DeFi industry as a whole: fiat integration.
Final Words on Vortex DeFi Review
In this Vortex DeFi Review, we have analysed the main features of this platform and the solutions that they are planning to offer in the future. Vortex DeFi aims at becoming the aggregating site for the whole DeFi market through a large number of integrations and services. This is expected to help expand the DeFi market and help users get access to some of the most innovative DeFi solutions around the world.