Deri Protocol Monthly Report for April
Highlights in April
- Three new investors: AKG Ventures, a digital asset hedge fund, Krypto Research, and CryptoDormFund
- The first Coinbase stock derivative in the DeFi field is launched on the platform, which tracks the price of Coinbase stock. Users can pledge BUSD for the pool to obtain DERI rewards
- Deri Protocol UI was upgraded to 2.0, continuously improving user experience
Currently, the Deri Protocol 2.0 version is under development, and the V2 version of Deri will bring extreme capital efficiency to users in the field of DeFi derivatives trading.
A. Product progress
UI upgraded to version 2.0
On April 8, Deri completed the upgrade and deployed version 2.0 of the UI. The new UI interface shows a finer and more friendly user interface.
Launched COIN derivatives
Through a community vote initiated on Twitter, Deri listed COIN as a derivative product of the Deri protocol on April 21. Users can add BUSD liquidity to the COIN pool and obtain DERI tokens.
DERI listed on PancakeSwap
On April 26, Deri Protocol’s native token DERI was launched on the decentralized exchange PancakeSwap. Users can conduct DERI/BUSD transactions, and the APY of the LP in the initial launch period is as high as 839%.
3 new investment institutions
On April 26, Deri Protocol received investment from investment fund company AKG Ventures, digital asset hedge fund Kryptos Research and crypto network CryptoDormFund. The funds raised will be used to further develop the Deri Protocol with addition of new features and functionalities not Deri Protocol.
How will this impact the circulating supply of DERI?
It will REDUCE the circulating supply of DERI as the team will transfer part of its unlocked DERI into the investors’ vesting plans. That is, a big part of the already-unlocked DERI will be put back into being locked.
On April 30th, Deri Protocol participated in DoraFactory’s blockchain hackathon. Community users can vote to support Deri.
A community poll for next Derivative on Deri Protocol
On April 15th, Deri launched a poll on Twitter to collect opinions from the community.A total of 274 votes participated in this round of voting, and 64% supported Coinbase’s stock. It was decided that the first derivative listed on Deri Protocol will be Coinbase stock (COIN) , not Tesla stock (TSLA).
C. On-chain data
THE DEFI WAY TO TRADE DERIVATIVES.