2023: A Year In Review

Deri Protocol
4 min readDec 28, 2023

Welcome to the 2023 Annual Report of Deri Protocol. The year 2023 marks a significant milestone in our journey, highlighted by the launch of Deri V4 and our recognition as the FIRST Layer 3. Join us in celebrating our achievements and looking forward to our continued journey in the DeFi revolution.

Session A: Product Innovation and Development

Session B: Ecosystem and community expansion

Session C: On-chain Data Summary

Session A: Product Innovation and Development

Launch of Deri V4

In November 2023, we launched Deri V4 as the pioneering Layer 3 project, introducing a cross-chain derivatives trading service to all DeFi users.

Deri V4 brings several key advantages for our users, including:

  • Consolidated Liquidity for Enhanced Trading
  • Faster Execution and Reduced Gas Costs
  • Expanded Symbol Offerings and More Option Strikes
  • Flexibility of Network

One month after its launch, DERI V4 has amassed a TVL ~1.6 million, attracted 29,000 users and now offers more than 60 trading symbols.

The Introduction of Gamma Swap

Launched in its beta version as part of Deri V3, Gamma Swap is designed to optimize capital efficiency. It allows the buyers to gain the Gamma exposure of some underlying asset and the sellers to earn the funding fees by providing that exposure, which can be a useful instrument for managing risks in a volatile market.

Following the feedback we gathered during the Beta phase, Deri Protocol has rolled out a new transaction fee algorithm for Gamma Swap. This update is designed to greatly enhance the adoption and practical use of Gamma Swap among our users.

Enhancing User Experience with New Features

  • Funding Fee Chart: This new feature provides traders with access to historical funding fee data for derivatives, enabling more informed and strategic trading decisions.
  • Limit and Stop Order: We’ve introduced ‘Limit’ and ‘Stop Order’, expanding the trading capabilities on our platform for a better user experience.
  • Web2 Integration for Easy Deri Access: Deri now enables Web2 users to effortlessly delve into Deri by providing access through their existing social media accounts.
  • One of Deri’s goals is to continue to launch new markets for traders. Currently, there are more than 60+ trading symbols on Deri Protocol.
  • more…

Session B: Ecosystem & community expansion

Governance DAO

  • According to Governance Votes, Deri V4 has been deployed on Arbitrum, zkSync Era, Linea and Scroll. In the futures, we’ll expand to more iChains according to community governance vote result.

Partner with the best

Community Events

  • Referral Program: A Referral Program with a competitive tiered rewards system has been launched on deri.io to stimulate and boost trading growth.
  • 2nd anniversary celebration: A carnival event with a total reward pool of $150,000 was launched to celebrate Deri’s 2nd anniversary in February and 2000+ users participated in it.
  • Join the Linea Voyage wave 5: Staking and wave 7: Trading.
  • 13 AMA sessions to communicate with the community and collect feedback
  • Deri team joined more than 10+ remarkable live streams to promote Deri to DeFi users
  • Several remarkable trading competitions,like Deri x Arbitrum Odyssey, etc.
  • ……

Other achievements

  • Pioneers in Arbitrum Orbit Chains: Deri Protocol is among the first batch to join the ever-growing Arbitrum Orbit Chains Ecosystem
  • Arbitrum DAO Airdrop Recipient: Proudly received 386,311 $ARB from the Arbitrum DAO Airdrop.
  • Featured in Multiple Ecosystem Hubs: Deri Protocol was prominently featured in the ecosystem hubs of Arbitrum, zkSync Era, Linea, and Scroll.
  • Leading Dapp on ONTO Wallet: Listed as a leading Dapp on the ONTO Wallet platform.
  • Top Dapp on BNBChain: Recognized as one of the ‘Top 7 Dapps in DeFi’ by BNBChain in their ’40 Best BNB Chain dApps 2023' list.
  • ……

Session C: On-chain Data Summary

In 2023, Deri Protocol’s cumulative trading volume surpassed a staggering 776 million. The platform welcomed over 30,000 new trading addresses, with daily derivatives trades peaking at an impressive all-time high of over 3,600.

Additionally, the year saw more than 7.23 million Deri tokens being permanently burned to the deadlock address.

Looking Forward to 2024

In 2024, our goal is clear: to make Deri the go-to destination for all DeFi derivative traders. We will be dedicated to constantly improving, always listening to and caring for our users’ needs.

A big thank you from the entire Deri team to our community. We’re grateful for your support and hope you have a fantastic New Year’s celebration. Here’s to a successful 2024 together!

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.

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Deri Protocol

Deri Protocol = (Perpetual Futures + Everlasting Options) x Decentralized.