Everlasting Options Upgrade Announcement

Since its launch in September 1st 2021, Deri Protocol Everlasting Options Beta has been running smoothly. As the first-ever everlasting options on the globe, the trading volume has surpassed 50 million in its first 7 days after release!

To provide the best product to the Deri Community, we continuously monitor the transactions and parameters since the Everlasting Options Beta launch. Based on real transaction data and in-depth research, the Deri team decided to optimize the transaction fee mechanism to the following.

The new transaction fee will be charged differently for in-the-money and out-of-money options:

Transaction Fee = Option Price * Fee Ratio OTM, for out-of-money options;

Transaction Fee = Underlier Price * Fee Ratio ITM, for in-the-money options;

Where

Fee Ratio OTM = 4%

Fee Ratio ITM = 0.15%

To carry out the upgrade, the Deri team will migrate the existing liquidity pool to a new pool, the migration process is as follows:

  1. Deploy new contract (0xd5147d3d43bb741d8f78b2578ba8bb141a834de4)

2. According to the migration rules, a three-day review period is set for the new contract, and users can check the contract details by themselves.

3. At the end of the three-day review period (September 11, 2021 1:19:34 PM UTC), the team calls the executeMigration() function on the new contract to migrate the funds and positions to the new, original liquidity pool. Please note, liquidity providers & traders do not have to move their liquidity or positions manually, this happens automatically!

4. After the migration, the original liquidity pool will be removed.

In the interim, we’ve adjusted the transaction fees in the current pool.

  • Transaction Fee = mark price * 5%, for out-of-money options
  • Transaction Fee = mark price * 2.5%, for in-the-money options

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.

Website | Twitter | Github | Telegram

--

--

--

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

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

The company behind NEO: Onchain and its ultimate plan — DNA

Coding Africa an initiative by CUDOS partner KamPay.

Exploring Great Partnerships By CUDOS

Will Autonomous Devices Become our Benevolent Overlords?

NBdomain: An updatable datastore for blockchain

Qredo: The New Approach to decentralized crypto Assets tracking.

Introduction to Plines

Recap of Unmarshal AMA on its recent Partnership with SafleID

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Deri Protocol

Deri Protocol

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

More from Medium

Deri Protocol Monthly Report for February 2022

Grazing Range Pool #44 — Welcoming HIGH to the herd!

APWine is Officially Live on Polygon

A New Angle for Stablecoin Protocol: Unveiling NearPad x Angle Protocol Partnership