Embracing the Future: Deri Protocol’s Journey with Pyth Network

Deri Protocol
2 min readFeb 7, 2024

Introduction

Deri, your option, your future!

Deri is the one-stop shop for DeFi derivatives, redefining the future of derivative trading. Deri is a gateway to innovative trading solutions, offering a wide range of derivatives trading options that empower our users.

Our collaboration with Pyth Network, by integrating Pyth Price Feeds, marks a significant milestone in our mission to provide the most secure and user friendly derivative trading service to traders.

We’re proud to announce that Deri Protocol is a fortunate recipient of the Pyth Network Retrospective Airdrop program, receiving PYTH Tokens that symbolizes a strong partnership and mutual trust.

What Will We Do With This Pyth Tokens?

The PYTH token isn’t just a token of partnership; it’s a catalyst for growth and innovation within the Deri Protocol. Here’s a glimpse into our roadmap and how we plan to leverage the PYTH tokens:

  • Feature Enhancement: The Pyth tokens will turbocharge the development of new Deri Protocol features, giving our traders access to the market’s most advanced tools.
  • Security and Precision: We aim to further integrate Pyth’s real-time data feeds, enhancing the security and precision of trades made on Deri Protocol.
  • Cross-Chain Expansion: Part of the tokens will be used to explore and execute cross-chain integrations, expanding Deri Protocol’s presence and accessibility across the DeFi ecosystem.

Integration with Pyth Price Feeds and Pyth Benchmarks

Choosing to integrate with Pyth Data was a strategic decision driven by several key factors that align with our vision for Deri Protocol:

  • Latency and Frequency of Updates: Pyth’s high-frequency updates ensure that our platform remains at the forefront of market movements, offering our users the most current data for their trades.
  • Security Measures: With features like confidence intervals, Pyth enhances the reliability of the data we use, fostering trust and security within our community.
  • Ease of Integration: The straightforward integration process with Pyth allows us to focus on innovation rather than operational hurdles.
  • Competitive Fees: Thanks to Pyth’s Pull Oracle design, we can offer competitive fees, passing on the savings to our users.
  • Wide Asset Coverage and Multi-Chain Presence: Pyth’s extensive asset coverage and availability across multiple blockchains align with our goal to offer diverse trading options and accessibility.

In closing, our partnership with Pyth Network represents a significant leap forward for Deri Protocol and our users. This is not just a testament to our achievements but also a promise of the exciting developments we have in store. As we continue to integrate Pyth’s cutting-edge data into our platform, we invite you to join us on this thrilling journey into the future of DeFi trading.

Stay tuned for more updates, and as always, trade safely and wisely.

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Deri Protocol

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