Deri Protocol Monthly Report for August 2023
Highlights:
1. Deri Protocol revealed an innovative architecture of d-chain and i-chain in upcoming Deri V4.
2. Deri Protocol launched two new features’ Limit and Stop Market Orders’.
3. Deri announced the partnerships with BinaX Protocol.
4. 372k DERI token were burned in August.
A. Project Progress
Lead-up of Deri V4:
There is an incredible architecture of d-chain and i-chain in Deri V4, which can be a great innovation in Defi. The new architecture will take capital efficiency to a higher level through cross-chain. Discover more: https://deri-protocol.medium.com/deri-v4-architecture-i-chain-and-d-chain-6509e8ca8d6b
Adhere to the implementation of decentralization, Deri launched the nomination of the community’s preferred potential i-chain candidates for Deri V4’s first deployment.Next，governnce vote will be carried out for confirmation, which aims to shape V4 with Deri community together.
To optimize user experiences, Deri launched two new features,Limit and Stop Market Orders on deri.io.
Details of the features: https://docs.deri.io/how-it-works/limit-orders-and-stop-orders
B. Ecosystem/Community
Partnership:
Deri Protocol x BinaX Protocol: BinaX is a decentralized binary options protocol based on ZKP that allows users to earn returns by predicting market trends. BinaX is built on zkSyncEra and uses the StarkEx trading engine to achieve low gas and high transaction speed. The cooperation aims to make zkSync Era the preferred network for derivative trading.
Deri’s Live Stream/AMAs:
Deri participated in Router Protocol’s twitter space ‘ Router Connect: A Web3 Fusion ’
Deri launched a routine community Discord AMA on August 31st.
On-Chain Data
Since the launch of the DERI burning mechanism, more 6.34 M DERI tokens have been burned to deadlock, with nearly 372K DERI tokens burned in August 2023.
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.
