2022: A Year In Review
The global market landscape faced challenges in 2022, but DeFi and Deri Protocol has shown its resilience and preparedness for the future. As the year comes to a close, let’s take a look at all the significant progress that Deri Protocol has made in 2022.
A: Product innovation & development
B: Ecosystem & community expansion
C: On-chain Data
A: Product innovation & development
✅Deri Protocol V3
In January, 2022, Deri V3 was launched with defining features, called external custody and a uniform DPMM, to provide optimised capital efficiency to users on Deri Protocol. An in-depth analysis report about Deri Protocol V3 is written by Messari.
✅Expansion to Arbitrum
To continually pursue the goal of providing capital efficiency to derivatives traders on multiple blockchains. Deri Protocol has expanded to Aribitrum for faster transactions, lower gas fees and overall a better experience for our users.
✅Power Perpetuals
Apart from Perpetual Futures, Everlasting Options, traders can now trade powers on Deri Protocol.
✅Revamped UX and UI
Of course, Deri Protocol users who have trading on the platform over the last year have noticed the incremental improvement to user experience and interface.
- Deri Lite provides instant trading experience with futures, options and powers
- Simulate PNL calculator can help calculate the potential profits and losses
- Global trading symbols search function allows users to find the symbol quickly
- The “Daily LP Net Value” and “Top Margin/Liquidity” diagram can help users to monitor the long-term profitability of liquidity providers
- ……
✅More trading symbols
One of Deri’s goals is to continue to launch new markets for traders. Currently, there are more than 20+ trading symbols on Deri Protocol.
✅Other optimizations
- Cross-pool consolidated mining has been switched to smart-contract-based single-pool mining for capital efficiency improvement.
- DPMM parameters have been adjusted for the balance of liquidity providers and traders
- Coinbase wallet and wallet connect have been integrated for more users
- Demo testnet has been launched for traders to freely experience trades on Deri Protocol
- New domain name: https://deri.io
- ……
B: Ecosystem & community expansion
✅Deri Ecosystem
The Deri Ecosystem Portal, deri.fi was officially introduced. All Deri verified projects from both core team and community developers will be listed in the portal. All these Dapps are built based on Deri Protocol smart contracts. In 2022, the newly created Dapps in the portal include:
① Bet It: the first community-built Dapp, simple & user-friendly UI for normal traders.
② Dip Hunter: community-built Dapp, helps people to buy BTC & ETH dips while earning passive income.
③ Stable Earn: an investment Dapp powered by Deri and Staker, allows users to invest $BUSD and earn stable yield in $BUSD at almost zero risk.
✅Now in 11 languages
Deri Protocol website is now available in 11 languages. You can change the language at the top right corner of the website. If you speak multi languages and would like to help translate deri.io into your language and help us grow in your native language community, kindly reach out to us.
✅Governance DAO
- Deri’s decentralized governance procedure is established, which consists of governance discussion, poll votes and executive votes.
- According to DIP4, theDERI burning mechanism has been switched to the burn-to-deadlock mode
✅Other achievements
- Community selected slogan: “Deri, your option, your future!”
- Be a founding member of the BNBChain DeFi League Steering Committee
- Deri joined the early-bird program at Binance Oracle
- Deri Protocol is listed on DappBay as one of the very best Defi dApps on BNBChain
- Deri team joined more than 10+ remarkable live streams to promote Deri to DeFi users
- Several remarkable trading competitions, including the first anniversary event, Deri Festival Campaign on Arbitrum, Deri x BNBChain World Cup Football Festival, etc.
- 13 Deri AMAs to communicate with the community and collect feedback
- Backed by Tron DAO
- A few partnership announcements
- ……
C: On-chain Data
The cumulative trading volume on the Deri Protocol exceeds 140 billion. More than 3000 new addresses have traded on the Deri Protocol, with daily derivatives trades reaching an all-time high of 1000+ in 2022.
In 2022, over 6.12 million Deri tokens were burned. Of those tokens, more than 4.35 million were burned to the mining vault, and 1.77 million were burned to the deadlock address.
Looking Forward to 2023
In 2023, we are determined to continue working hard to put Deri Protocol on the map when trading crypto derivatives. We will continue to listen, care and improve for our users.
On behalf of the entire Deri team, we want to express our gratitude to all community members. We hope you have a wonderful New Year’s celebration and a successful 2023 ahead.
About Deri Protocol
Deri, your option, your future!
Deri is the DeFi way to trade derivatives: to hedge, to speculate, to arbitrage, all on chain. With Deri Protocol, trades are executed under AMM paradigm and positions are tokenized as NFTs, highly composable with other DeFi projects. Having provided an on-chain mechanism to exchange risk exposures precisely and capital-efficiently, Deri Protocol has minted one of the most important blocks of the DeFi infrastructure.
