Deri Protocol Buy and Burn Program Initiated!

Over the past few weeks, as we have marched through the initiatives in Deri Protocol V2, we have seen awesome responses on our TVL on BSC (11M+ BUSD), official Telegram, and social channels. The Deri Protocol team appreciates the community’s enthusiasm across the project.

The first DIP about DERI buy and burn from the secondary market and burn (i.e. recycled to be mined again) is at the top of the team’s priority agenda. The team values DERI owners and community members and is also confident this is in their best interest. Now we are excited to announce the launch of the Deri Protocol Buy and Burn program!

According to the DIP governance voting, 20% of the transaction fees earned will be put into a DAO fund, which will be used to regularly buy DERI from the secondary market and burned (i.e. recycled to be mined again). The team has hard-coded the voting results in Deri Protocol V2 smart contracts. Community members can monitor the DAO fund and buy and burn smart contracts on the BSCscan.

The DAO Fund:

DAO Fund

Buy and Burn Smart Contract:

The team will effectively use the DAO funds to drive DERI’s trend into the positive in the long run. As the trading volume and the transaction fees increase, the DAO fund will exert a significant buy pressure in the secondary market, stabilizing the price of DERI and decreasing the amount of DERI in circulation. We will keep updating the community on the amounts and other relevant details as time goes on.

Thank you, Deri Fam. The Deri Team is grateful for your trust and support through all of the challenges that have come our way. We appreciate the time you gave us to propose, deliver, and execute the first DIP.

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