Deri AMA Recap on August 31st, 2023
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On August 31st, Deri launched an AMA. Let’s watch the detailed & complete AMA recap below:
The AMA Entrance: https://discord.gg/dQyuBkBKBe
OxAlpha:
Hello everyone! Nice to see you all again. Let me start with briefing the recent updates. The recent improvements & updates of Deri include:
- Deri V4 lead-ups:
① Discover the incredible architecture of our d-chain and i-chain in Deri V4, a great innovation in Defi. The new architecture will take capital efficiency to a higher level through cross-chain. Get more:
https://deri-protocol.medium.com/deri-v4-architecture-i-chain-and-d-chain-6509e8ca8d6b
② The Deri team is now soliciting ideas from all community users: Which chains do you want Deri V4’s i-chain to be deployed? Fill the form to nominate your preferred chains before September 4th: https://docs.google.com/forms/d/e/1FAIpQLSeRqNSM52XkEm-ooNQdlxOSwpcA6plrQcRb5ppCMxVQjBPIRQ/viewform
You can find out more details here:
https://deri-protocol.medium.com/shaping-deri-v4-together-your-voice-your-choice-23248245a671
It only takes a few minutes to fill out the form. I hope that the community will actively participate in the construction of Deri V4. Your input shapes the future of our V4 !
2. New feature: The feature ‘Limit & Stop market orders’ that the community has longed for are finally online. Freed traders from staring at the market. Try: https://deri.io/#/lite/trade/option/BTCUSD-26000-C
The usage guide: https://docs.deri.io/how-it-works/limit-orders-and-stop-orders
This is something the community has been waited for a long time. Sorry it takes so long. But finally here it is!
3. New listings:
ETHUSD-2200-C
ETHUSD-2200-P
4. New partnerships:
Deri Protocol x BinaX Protocol: BinaX is a decentralized binary options protocol based on ZKP(Zero — Knowledge Proof) that allows users to earn returns by predicting market trends. BinaX is built on zkSyncEra and applies the StarkEx trading engine to achieve low gas and high transaction speed.
The collaboration aims to make zkSync Era the preferred network for derivative trading.Stay tuned for more updates!
All right! So that’s the quick briefing of the updates. Now let me get to the questions.
Q: Could Deri import the derivative trading function into Venus-XSV Dapp? Venus now is the best lending in BSC and will support crosschain/multichain soon. I hope to see more product line between Deri and Venus.
A: I have to say tha’s a good but bold idea!
I can talk to the Venus team with this. I am not sure what they would think of integrating derivative trading function on their app though. We will see.
Q: Is Deri V4 multichain or crosschain, which is the more accurate word?
A: A good question!
I believe “cross-chain” is the more accurate term. Typically, the concept of “multi-chain” refers to the fact that a Dapp is deployed on more than one blockchain, which is the case for Deri V3 (independently deployed on Arbitrum, BNBChain, and zkSync Era).
However, Deri V4 will not only be deployed on more than one blockchain, but also the components on different blockchains will work together as one unified liquidity pool. That is why we call Deri V4 an xDapp, where “x” stands for cross.
Q: Why is there not BTC 29000 strike price?
A: Well, while we wish to provide as many strikes as possible, the V3 architecture makes it difficult to provide a strike every 1000 at the price axis. However, we will consider such an interval arrangement in V4.
Q: Since price recently dropped, why is there a large gap in strike prices between 26–20k?
A: In general, we provide more condensed striks around the current index price, as this is the most active trading range. BTC has barely dropped below 26k, making the price range below 26k a less active trading range. We will provide strikes below 26k if the situation changes and this becomes more relevant. However, if you, as a trader, feel that there is a need for more strikes, please let us know. We are always open to reviewing such requests and seeing if we can accommodate them.
Suggestion: Ride on the wave of crv, establish partnership with crv
A: Suggestion well received. I will forward this to the operation team to discuss the feasibility.
Q: Will Gamma Swap’s transaction fees be reduced after the release of V4?
A: In short, yes!
Let me provide some more information on this topic. Charging fees for derivatives is not just a matter of setting a number; it requires an algorithm. Unfortunately, Gamma Swap’s fee algorithm was not very reasonable in the beta stage simply because we did not have a good one. Please keep in mind that Gamma Swap is a completely new product, so there is no established fee structure to follow.
However, the good news is that, based on the last several months of actual trading, we have developed a more reasonable algorithm that will significantly reduce the fee.
We will make the change very soon. I am begging a little more patience from you.
Q: When will Deri Protocol be launched on BASE and starknet?
A: Both BASE and Starknet are possible options for Deri V4.
However, it is important to emphasize that the choice of i-chain deployment will be a community-driven process. The team will make some suggestions or proposals (meanwhile, you can make yours), but the final decision will be made by DIP voting.
From a technical perspective, BASE is easier to deploy than Starknet because it is EVM-compatible (similar to Optimism or Arbitrum). This means that Deri V4 is technically ready for BASE from day one, but not for Starknet. However, the team is confident that they will be able to support any type of blockchain (including the non-EVM-compatible ones) in the future.
Suggestion: Order via API on Deri Protocol.
A: As a DeFi app, Deri Protocol has “API” available from the start. Though it is not exactly the same kind of API as those provided by centralized exchanges. You can interact with Deri Protocol programmatically by calling its smart contracts directly, which is the same as using a traditional API. You can find some examples of this in the following repo:
https://github.com/deri-protocol/demo
As a matter of fact, quite a few traders are trading programmatically on Deri, which means they are already using “API”.
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.
