Deri Protocol Monthly Report for May 2022
Highlights in May
- Deri Protocol is live on Arbitrum mainnet to providing capital efficiency to derivatives traders with faster transactions, lower gas fees, and overall a better experience for our users
- BET it, the very first community-built project is live. Community Developers are welcome to build projects based on Deri Protocol.
- To privilege DERI token in long term, the liquidator qualification module is reactive on Deri Protocol
- Messari published an update analysis on Deri Protocol V3
- A community driven poll was proposed to change the burning mechanism of DERI token
- Over 1.32 million DERI tokens were burned in May
- Spanish is updated on Deri Protocol
A.Project Progress
Deri Protocol officially launched on Arbitrum. By using AAVE as the external custodian, USDC, WBTC, LINK, ETH, DAI can be used for trading BTC & ETH Perpetual Futures, Everlasting Options, and Power Perpetuals with up to 25x leverage on Arbitrum.
“BET it” is the first community-built dApp based on Deri Protocol smart contracts with a simple, user-friendly UI for average DeFi users. Community Developers are welcome to build projects based on Deri Protocol. Feel free to submit your project to be shown on https://deri.fi
To privilege DERI token in the long term, the liquidator qualification module is reactive on Deri Protocol. While everyone is encouraged to participate in liquidation, liquidators are required to stake DRI in the “privilege” pool with a staking amount no less than the average evel. Click here to read the details.
As a further step toward decentralized governance, Deri Protocol’s AMM liquidity mining has switched from cross-pool consolidated mining to smart-contract-based single-pool mining, in which DERI rewards are calculated and distributed per block based on LPs’ liquidity percentage in each pool.
To improve capital efficiency, “Future Main” and “Options” were combined into “Main” on BNBChain. Check the details here
AVAXUSDT Perpetual Futures is live for trading on Deri Protocol with 10x leverage.
In order to protect both liquidity providers and traders, LUNAUSDT has been delisted from the Deri Protocol.
Spanish is live on Deri Protocol now.
B. Ecosystem/Community
The Deri community spontaneously proposed community polls about changing the burning mechanism of the DERI token.
Messari launched an in-depth analysis report about Deri Protocol V3.
InsurAce.io Protocol officially announced the partnership with Deri Protocol
Interested in learning about derivatives? Deri Academy has all and more!
Deri Protocol’s AMAs/Live Stream Overviews in May
Deri Protocol joined BNB Chain’s Defi League Spaces with the topic of how to utilize derivatives to navigate the uncertainty in the market.
C. On-Chain Data
Since the launch of the DERI burning mechanism, nearly 4.2 million DERI tokens have been burned, with more than 1.32 million DERI tokens burned in May.
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.
