We have defined a new type of value basis of DeFi protocol tokens, Privilege Token, which is different from the common types such as governance tokens, fee tokens, or security tokens. DERI is a privilege token means people in the Deri ecosystem need to stake DERI to obtain some privileges during the Deri trading business.
With Deri Protocol, position liquidation is decentralized and open to qualified users. Since liquidation is riskless profitable, while we encourage anybody to participate in liquidation, for some of the trading pools we require participants to stake DERI in the liquidator qualification pool and his/her staking amount has to be no less than the average level.
Privilege smart contract on BNBChain: 0x4A2F020f0047Ff41429B5Fe2B71b34E9eA66905D
Q: How to deposit DERI tokens into the Privileger smart contract
A： Step 1: Approve Privileger smart contract in DERI token smart contract (https://bscscan.com/address/0xe60eaf5A997DFAe83739e035b005A33AfdCc6df5#writeContract)
Step 2: Deposit DERI tokens into the Privileger smart contract. At least 10000 DERI tokens must be deposited.
Q: How to check the average staking amount?
A: You can find the number of DERI tokens and qualified liquidators on BSCscan. The average staking amount = Number of DERI tokens/Number of Liquidators.
About Deri Protocol
Deri, your option, your future!
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.