Deri Protocol Monthly Report for September
Highlights in September
- Launched the very first Everlasting Options with a total trading volume that surpassed $115 million in September
- Deri Protocol is recognized as one of 17 Monthly Stars August of BSC Most Valuable Builder III
- Joined Messari Hub which is the top crypto research institution
- BUSD-margined BTCUSD-50000-P, BTCUSD-60000-C, ETHUSD-3000-C, and ETHUSD-2000-P are live on Deri Everlasting Options
- DERI/USDT, DERI/ETH trading pairs are now available on Gate.io
- Launched bug bounty program on Immunefi
- Announced two bounty programs to attract developers to build on Deri Protocol
A.Project Progress
The very first Everlasting Options is available on Deri Protocol with unique features:
- No need to roll
- No liquidity fragmentation
Introduced dynamic mining APY from September 6th, 08:00 AM UTC to appeal liquidity providers. The lower the pool’s liquidity, the higher the pool’s APY.
We optimized the Everlasting Options transaction fee mechanism based on the real transaction data and in-depth research.
Added BTCUSD-60000-C, BTCUSD-50000-P, ETHUSD-3000-C, and ETHUSD-2000-P Everlasting Options based on BTC and ETH’s market price.
Added AGLDUSDT perpetual contract at Inno Zone on BSC and Polygon network.
We revealed our bug bounty program with rewards up to 30,000 USD per bug found on Immunefi.
NULS-margined, ONTO-margined perpetual pools are created at Deri Protocol’s Open Zone.
We announced two bounty programs on HackerLink to encourage developers to build on Deri Protocol’s derivatives trading with total rewards of 6,000 USDC.
- Build a game system based on trading of Deri futures and options
- Build an on-chain fund management protocol to manage funds by trading on Deri Futures & Options
B. Ecosystem/Community
We are recognized as one of 17 Monthly Stars August of BSC Most Valuable Builder III. Each month, BSC will announce up to 20 Monthly Stars, reaching a maximum of up to 60 Monthly Stars in the MVBIII. At the end of the MVBIII, BSC will announce the final top 10 winning projects of MVB III.
Deri Protocol joined the Messari Hub.
DERI/USDT, DERI/ETH trading pairs are now available on Gate.io, while a DERI/USDT trading pair is now available on MEXC.
To promote a more decentralized and community-driven operation, the Deri operation team is to give up most of their pre-allocated DERI tokens. This part of DERI will be transferred to the treasury for fundraising and supporting the community-driven operations. A DAO fund for Deri ecosystem grant will be launched later on. (more)
Deri Protocol AMA in September
(1) Cointelegraph Youtube AMA
https://www.youtube.com/watch?v=T-IGIJRkEf4&t=278s
(2) September 3rd Telegram AMA
https://deri-protocol.medium.com/telegram-ama-recap-on-september-3rd-f114f65f8f41
(3) September 10th Telegram AMA
https://deri-protocol.medium.com/telegram-ama-recap-on-september-10th-afee27966a18
(4) Nuls Telegram AMA
https://twitter.com/DeriProtocol/status/1437024703173079040
(5) September 24th Telegram AMA
https://deri-protocol.medium.com/telegram-ama-recap-on-september-24th-9d1305ab1074
To celebrate 1-year of Binance Smart Chain, Deri Protocol joined Secondlive’s DeFi exhibition as a booth project, and 1000 winners claimed their 3D NFT and earned DERI.
C. On-Chain Data
The total trading volume of derivatives is over $141 million with a sharp increase compared to August.
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.
