Permissionless Markets of Derivatives: Introducing Deri Protocol Open Zone
Decentralized spot exchanges (DEXs) like Uniswap have emerged to challenge centralized finance (CeFi) or centralized cryptocurrency exchanges such as Coinbase and Binance. Therefore it is reasonable to extrapolate that the burgeoning decentralized derivatives protocols will also challenge CeFi in the derivatives market.
But How？
Uniswap
At Uniswap, anyone can create a liquid marketplace, including token projects. Token projects can choose to be LPs to create a liquid marketplace for their token. This allows tokens to be bought and sold more easily and unlocks interoperability with other DeFi projects through Uniswap.
Deri Protocol
Now with Deri Protocol, everyone can launch his/her own pool, defining the base token and trading symbols, transaction fee ratio, etc. Token projects can choose to become LPs to create a pool, which allows their specified tokens to be base tokens or trading symbols and creates tokens’ new use cases through Deri Protocol’s Open Zone.
Sample:
Project Zerogoki launched its own pool on BSC, defining zUSD as base token to trade perpetual futures of BTCUSD, ETHUSD, etc.
- Passive zUSD token holders who wish to invest their assets to accumulate transaction trading fees, the funding fee, etc., can stake zUSD in the pool.
- Professional zUSD token holders can trade zUSD-margined BTCUSD, ETHUSD perpetual contracts to make profits.
While the front-end UI for self-serving pool-launching is still under last-stage testing, those who would like to become the early adopters of Deri Open Zone could do this via smart contracts. Please contact us for assistance if you would like to be an early explorer.
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.
