Deri Protocol Monthly Report for October
Highlights in October
- The Total trading volume surpassed $2.4 billion in October while the cumulative trading volume on Deri Protocol exceeded $3 billion, a significant milestone for Deri’s growth.
- Deri Protocol is recognized as one of the first pilots of BSC $1 Billion growth funds.
- BTCUSD-70000-C is live on Deri Protocol Everlasting Options.
- Our community continues to grow organically, 30k+ followers on Twitter and 14k+ members at Deri Protocol Official Telegram group.
A.Project Progress
Deri Perpetual Futures has been upgraded from V2.0 to V2.1 by introducing DPMM for Deri Perpetual Futures to adopt the better-known and easier-to-understand funding mechanism.
Based on DIP2’s voting result, the protocol fees’ collection ratio has been updated to 80%.
To be transparent, the daily volume and transactions can now be easily tracked and monitored on Deri Stats.
Added BTCUSD-70000-C on Deri Protocol.
To make the trading experience intuitive and more user-friendly, we switch the trading volume in terms of the “Minimum Trading Unit” to the “Natural Trading Unit” of the underlying asset. (Read more)
B.Ecosytem/Community
Binance has allocated a $1 billion growth fund to BSC, aiming to kickstart the next phase of expansion of BSC. Deri Protocol is honored to be one of the first pilots of the $100 Million Liquidity incentives program.
To celebrate Deri is among the first pilots of BSC $1 Billion growth funds, we held the Trade to Earn Epoch 1 Event from Oct 13th to Nov 10th.
Deri Protocol aims to implement an efficient strategy, to regularly buy $DERI from the secondary market, to be burned. Therefore, we would like to include the community’s ideas & suggestions! Submit your suggestions here!
Deri Protocol’s AMAs Overview in October
1st October 22th Telegram AMA
https://deri-protocol.medium.com/telegram-ama-recap-on-october-22nd-4813f04eed82
2nd October 21st BSC Russia AMA
3rd October 20th BSC Project AMA
https://bscproject.medium.com/bsc-project-talk-defi-deri-protocol-9d9ba0c9c66a
Gate launched a series of promotional events for DERI Token
- DERI liquidity Mining Pool
- HODL&Earn Phase 1
- DERI trading Competition
- Gate.io English AMA
- Gate.io Russia AMA
- Gate.io DERI giveaway
Deri updated the bug bounty scope and increased the bounty rewards up to 50,000. Detect bugs on Deri protocol, report them, and earn! Report bugs here!
Hackerlink Bounty on DoraHacks
- Build a game system based on trading of Deri perpetual futures and everlasting options (https://hackerlink.io/en/bounty/30)
- Build an on-chain fund management protocol to manage funds by trading on Deri Futures and Options (https://hackerlink.io/en/bounty/31 )
QCP, one of the leading, largest crypto options market makers, has invested in Deri Protocol.
WOO Network, the only platform with ZERO trading fee, deep liquidity and a customizable GUI, has invested in Deri Protocol.
We were featured on BSC Project Spotlight: https://www.binance.org/en/blog/bsc-project-spotlight-deri-protocol/
C.On-Chain Data
The total trading volume of derivatives is over $ 2.4 billion with a sharp increase compared to Sep.
About Deri Protocol
Deri Protocol = (Perpetual Futures + Everlasting Options) x Decentralized.
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.
