Deri Protocol Monthly Report for April 2022

Highlights in April

  • Deri Protocol officially announced its multi-chain expansion with Arbitrum.
  • The testnet of Deri Protocol had been live on Aribiturm Rinkeby as a prelude to mainet.
  • SOLUSDT, LUNAUSDT, DOGEUSDT and FITFIUSDT Perpetual Futures are live on Deri Protocol at BNB Chain.
  • Over 422k DERI tokens were burned in April.
  • Deri Protocol took part as a guest of the Defi project at FutureFi, a conference of insights on cutting-edge blockchain sectors held by BNBChain.
  • The accumulative trade volume on Deri Protocol surpassed $25 billion.

A.Project Progress

Deri Protocol announced it would be officially deployed on a new chain, Arbitrum, for improved capital efficiency to enhance decentralized derivatives trading.

By adopting AAVE as the external custodian, $USDC, $WBTC, $LINK, $ETH and $DAI can be used as 5 base tokens for trading $BTC & $ETH derivatives on the Arbitrum network.

Deri’s testnet had been live for both Deri community and Arbitrum community to get an early and free experience.

New listings:

SOLUSDT, LUNAUSDT, DOGEUSDT and FITFIUSDT Perpetual Futures are live on Deri Protocol.

Deri Protocol has updated several features to significantly improve traders’ experience:

  • The Daily LP Net Value to monitor the long-term profitability of liquidity providers as traders’ counterparty
  • Simulate PnL Calculator to help traders to calculate the potential profits and losses in different scenarios.
  • To provide more transparency, top Margin/Liquidity Breakdown is shown.

B. Ecosystem/Community

In order to gently introduce all traders to Power Perpetuals, we have compiled the usages of power perpetuals as separate scenarios to make traders understand powers in an easier & clearer way . With this, traders can begin their journey into the world of Power Perpetuals.

In preparation for the official launch on Arbitrum mainnet, Deri launched a testnet trading competition on Arbitrum Rinkeby in which over 850+ traders participated.

Deri launched an innovative trading competition dedicated to GMTUSDT perpetual futures

Defi Protocol participated as a guest in FutureFi, a conference on cutting-edge blockchain sectors conducted by BNB Chain.

Deri Protocol is among the BNB Chain’s potential lego in the Defi section in 2022.

Deri Protocol’s $3000 bounty has been live on BNB China Revelation Hackathon to encourage builders to build Deri Protocol together.

Deri’s Spanish translation bounty was open

Deri Protocol’s AMAs/Live Stream Overviews in April

April 8th Deri Community AMA

April 22nd Deri Community AMA

April 27th Deri x Arbitrum Discord AMA

C. On-Chain Data

The total trade volume in April exceeded $2 billion, while the accumulative trade volume on Deri Protocol surpassed $25 billion.

Since the launch of the DERI burning mechanism, over 2.88 million DERI tokens have been burned, with more than 422k DERI tokens burned in April.

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 = (Perpetual Futures + Everlasting Options) x Decentralized.

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Deri Protocol

Deri Protocol

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

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