Deri Protocol Monthly Report for June 2024
Highlights:
1. Deri V4 has launched the Inno Zone to trade more token perps
2. Deri Protocol is hosting a big trading competition with a $15,000 USDC prize pool.
3. Deri Protocol community is holding a vote for the next iChain.
A. Project Progress
Deri V4 has launched the Inno Zone to trade perps of assets other than BTC and ETH. As of now, the perps of BNB, SOL, DOGE, SHIB, MATIC, PEPE, WIF, NOT, FLOKI, BONK are live. More perps will be rolling out.
Simultaneously, a separate ‘Inno Zone’ staking pool is launched to support the Inno Zone trading, where the real yield can be higher than that of the ‘Main Zone’.
B. Ecosystem/Community
Deri Protocol is hosting a big trading competition with a $15,000 USDC prize pool from June 19th to July 17th. As of June 27th (one week into the competition), the trading competition has 214 trading addresses, 568 trades, and a trading volume of $14,000,000. The #1 Week Trading Competition Recap: https://deri-protocol.medium.com/deris-trading-competition-recap-1-a8173ec3b6db
The Deri Protocol community is holding the next iChain vote with 8 candidates: Base, LightLink, Metis, Optimism, RARI Chain, Taiko, X Layer, and zkLink Nova.
HypernativeLabs has added Deri Chain to its list of supported networks.
On-Chain Data (Deri V4)
Since the launch of the DERI burning mechanism, nearly 11.63 M DERI tokens have been burned to deadlock, with more than 997K DERI tokens burned in June 2024.
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.
