Deri Protocol Monthly Report for October 2023

Deri Protocol
3 min readNov 3, 2023

Highlights:

1. Deri V4 is gearing up. Deri V4 smart contracts have successfully undergone a Peckshield audit and have been made open source.

2. Deri Protocol is among the first batch to join the ever-growing Arbitrum Orbit Chains Ecosystem

3. Deri Protocol has added new trading symbols, including BTCUSD-36000-C, BTCUSD-36000-P, BCTUSD-34000-C, and BTCUSD-34000-P.

4. A strategic partnership has been formed between Deri Protocol and AltLayer for the rollout of V4’s Deri Orbit Chain Mainnet.

A. Project Progress

Deri V4 Progress:

In our October monthly report, we’re excited to share that after extensive development, Deri V4 has officially launched on the Public Testnet as of November 1st. Our smart contracts have been rigorously audited by Peckshield, and we’ve made the full report accessible for review.

Additionally, we’ve open-sourced the smart contracts, allowing for community exploration and input.

Looking ahead, we anticipate the imminent launch of the Mainnet, marking another significant milestone for our project.

Arbitrum officially announced that Deri Protocol is among the first batch to join the ever-growing Orbit Chains Ecosystem

Deri Protocol has added new trading symbols, including BTCUSD-36000-C, BTCUSD-36000-P, BCTUSD-34000-C, and BTCUSD-34000-P, providing traders with more options for trading.

B. Ecosystem/Community

Partnership: Deri Protocol x AltLayer.

AltLayer will be technically supporting the deployment of the Deri Orbit Chain on the mainnet.

Deri’s Live Stream/AMAs:

Deri Protocol joined Arbitrum founder’s Twitter Space as a best project founder on Arbitrum to showcase our innovations and discuss the future of the chain.

On-Chain Data

Since the launch of the DERI burning mechanism, more than 6.63M DERI tokens have been burned to deadlock, with nearly 103K DERI tokens burned in October 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.

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Deri Protocol

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