Telegram AMA Recap on December 3th
On Friday, December 3th, we had a Telegram AMA. The following shows a recap of the questions with 0xAlpha’s answers.
Hi my dear Deri fellows~ AMA time again! Hope you all doing well. Recently we’ve been very busy with the 2 upcoming milestones: new website & Deri V3. Also during this period, quite some amazing things have taken place. Among them, we won the Top 10 of the BSC MVB3 Grand Finale! You all have contributed to this achievement! This is an honor to the whole Deri community! All right, let me start to address the questions that we received since last AMA.
Q1: Is there Deri in MVB3 of Binance？
A1: Not sure what you were asking about exactly. If you were asking whether Deri won the MVB3 winners, then yes! Please check out this page for details:
Q2: Is there anything to be announced this year？
A2: We announce big things almost every month. The next coming one is gonna be our new website, which is only a couple of weeks away. Stay tuned.
Q3: I see that the trading volume has remained at 200M recently, and there has been no significant growth. Although there are trading rewards，however, the price of DERI is too low, resulting in trading rewards that are not sufficiently attractive. What plans does the team have to increase trading volume ?
A3: I think trading volume has been increasing steadily. To be fair, 200M is not too bad. It’s almost the trading volume of a top 10 DEX (including both spots and derivatives).
You can find more about the trading volume stats from our info site：https://info.deri.finance/#/info
A4: Any projects upcoming for Deri?
Q4: Not sure about what’s the question either. If this is about what we are gonna roll out, the most important upcoming milestones are the new website in a couple of weeks and Deri V3 at the end of 2021 or the beginning of 2022.
A5: This project can reach %10 of DYDX. It is very undervalued. Any reason for being undervalued ?
Q5: This question might beyond what I can answer. One possible reason is that DYDX has been there for much longer time that Deri so is more well-known. So I would call you all to help promote Deri Protocol: Tell you friends about it and ask them to come to trade or provide liquidity on Deri. Then I believe we are gonna catch up with, or even surpass, dydx in the near future.
Q6: Knowing we will probably be a DAO in the next future. Don’t you think that the buy back should be controlled by a Randomizer smart contract that executes different buys without even DEVs knowing when will happen ?
A6: “Randomizer smart contract that executes different buys without even DEVs knowing when will happen” is a very cool idea!
This is also something we discussed at the very first place. However, it’s not easy to implement randomness on blockchain, especially randomness of timing (when something will happen). Please note that blockchain cannot proactively trigger anything itself. Anything taking place on blockchain has to be triggered by somebody outside (the one paying the gas).
Q7: What is benefit if Deri in top 10?
A7: Please refer to BSC’s article explaining the benefits for the MVBe top 10:
Q8: When new UI?
A8: We are targeting to roll out the new website in the week after the next.
Q9: Is the protocol it self based on the perpetual protocol? so basically, is it a fork, clone or neither? Github does not display it as a fork.
A9: Every single bit of Deri Protocol is original!
I am wondering what makes you think that Deri could be based on Perpetual, the model of which (the so-called vAMM) is problematic in my opinion.
Plus it’s very obvious Deri Protocol is the only DeFi platform providing both futures and options.
Q10: Any plans for other chains like Arbitrum etc?
A10: Yes we have plans for other chains but Arbitrum is probably gonna be passed.
Q11: Is there a page to track past volume? info.deri only shows the past month
A11: For stats beyond the past month, you can check out our monthly reports. The stats are not as granular though.
Q12: Does Deri has any liquidity issue? How is the price determined with the futures, AMM + oracle, or? I have a SakePerp background, but sold my stack since team was not delivering. Looking to buy a big bag of Deri.
A12: Deri has been up running for nearly 1 year now. Regarding price determining, please check out this article on our DPMM:
However, I want to emphasize that please only take my answer as for the first 2 questions. It’s by no means a financial advice.
Q13: Hi, I just recently invested with Deri after learning it from MVB III Top Projects.
A13: In my opinion Deri Protocol is a defining project of DeFI 2.0, especially the Deri V3 that will be rolled in several weeks.
Q14: Is there a linear infografich that shows months increse and rewards decrease? (pool mining rewards)
A14: I think you are referring to the mining rate. It makes sense to add this to our info site. I will put this in our pipeline.
Q15: I read that Deri is working on implementing a Rollup L2 solution. Is it close , or is it a mid-term milestone?
A15: Deploying on an EVM-compatible L2 does not need extra development work. We are comparing and testing. Also, not all othe Rollup solutions are online yet. We are still waiting for more.
Q16: Hello~ which country is this project from?
A16: As Archer already told you, we have 10+ teammates distributed over Asia, Europe and North America.
Beyond the small team of 10+, there are way more people out there who are doing a lot of work for this project, such as 7 telegram groups of local languages (French, Japanese, Chinese, Vietnamese, Thai, Spanish, Turkish), which are all run by the communities.
Q17: Will the transaction mining have the next period?
A17: Yes, right after Epoch2 there will be Epoch3.
Q18: What’s the next mining pool are you going to implement?
A18: We are not gonna roll out any new mining pool with Deri V2. New mining pools will be rolled out upon the launch of V3.
Q19: Do you have any plans for marketing?
A19: Of course, we are doing a lot of marketing things.
Q20: What exciting features does V3 have？
A20: Deri V3 is gonna define what DeFi 2.0 is. It will promote the capital efficiency to a level that has never been achieved before.
A21: I hope each page has a detailed introduction, so that every newcomer can quickly understand if the transaction.
Q21: Could you be a bit more specific about what exactly you are not sure of? Meanwhile, there are a lot of in-place instructions on the trading webpage, i.e. all the hovers popping up when you move your mouse to the relevant part.
A22: Most people are unprofessional. If you want them to trade in deri, you have to teach them to trade.
Q22: While deri is working on providing a relatively gentle learning curve for the users/traders, you do need to learn basic knowledge about derivative before you actually trade.
You can also try out our testnet website to make sure that you know what you are doing before you throw in any real money: https://testnet.deri.finance/
A23: Is this your project only for elite investors, how about others with small funds, is it open to everyone?
Q23: That depends on what you meant by “open to everyone”. The token is traded on secondary markets where everyone can buy the token. In that sense it is open to everyone.
But if you are talking whether we directly raise funding from retail or individuals, then the answer is no. the project (the treasury, to be precise) only raises from institutional investors (e.g. VC). There has never been a raising like “public sale” in any form.
Q24: Are you in any contact with the Binance team? Are you planning to add another network, Cronos?
For binance is tricky question . Any contact is good for speculation about listing. I am referring for another network like poligon. Cronos is new and start rise hard last month, I think aprove trading on Cronos network will be win fur us.
A24: As a leading derivative project on BSC, we are talking to some of the Binance teams, e.g. BSC team, very frequently.
Another network meant another blockchain? We are on Polygon already. As for Cronos, I am not familiar with it. Would you mind sharing more info (e.g. some links of docs) about this network? Thanks very much!
Q25: Are all core members working on Deri full time? If yes, how is the cash runaway?
A25: Yes, the core members all work on Deri full time.
Q26: The UI interface should treat us as children to teach us how to trade in deri, even including the mining interface.
Q26: We are working on designing the UI as intuitive as possible. But unfortunately this is derivative. I don’t think the UI can treat the users as children.
Q27: Most people only like simple and understandable things, and most don’t like learning. The UI interface should solve these problems, similar to the pictures I sent. Of course, it only solves a little! If we want to keep more users, we should treat everyone as a child.
Derivatives are complex tools.We really should help users get started. I think test tokens are good.What do you think？
A27: But you have to learn the basic knowledge before you trade on Deri. This pic you shared is for some other sector, which follows different rules.
Derivatives is a serious financial tools, not a toy. I strongly suggest you learn before you trade.
As mentioned above, we have a testnet platform. Please go to this website to practice your knowledge: https://testnet.deri.finance/
Q28: When $1？
A28: What’s up to the market. All right, I guess that’s it for today’s AMA.
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.