Telegram AMA Recap on July 30
On Friday, July 30, we had a Telegram AMA. The following shows recap of the questions with 0xAlpha’s inspiring answers.
0xAlpha: Hello, my Deri fellows. Hope you are all doing well!
There have been some updates since our last AMA.
We sponsored Chainlink to provide the fastest on-chain prices for BTC and ETH, with 0.1% deviation threshold. And the Deri trading pools are now using these robust and fast price feeds by Chainlink.
Also, in the past weeks we rolled out Inno Zone, which is to experiment all kinds of new idea about what to trade. So far we added AXS, MBOX and iBSCDEFI as symbols to the Inno zone. And we are adding more. Please share with us what you would like to trade.
Q1: SUPERFARM is an NFT project which is cofounded by ELLIO trades, which is a very big crypto influencer. It would be smart to Add it to perpetuals and maybe interact with him too. He’s is seriously huge
A1:Sounds like a potential symbol candidate for our Inno zone. Will definitely ask our colleagues look into it.:
Q2: Do you know why the return on staked DERI in LP pool is dropping daily (APRs) ???
A2:The fluctuation of APY largely depends on two factors: the token price and TVL.
Q3: Hey guys. Is there a way for the community to run nodes/ if yes, are there any incentives to do so?
A3: Deri protocol is DAPP running on blockchains such as ETH, BSC, or layer2 such as Polygon. So there is no such a thing as nodes of Deri protocol itself. If you are talking about the community of Deri running nodes of the underlying blockchains (e.g. ETH or BSC), I don’t see a point/significance for us to do that.
Q4: If I can share my thoughts regarding the NFT/gaming/art collectibles. I’d say that either you should research yourself the biggest project and create an index. PIEDAO has already an NFT index if you want take a look. Instead of creating and INDEX of projects or even creating a single project perpetuals I would innovate it. LEt’s find the most tranding NFT collection and let’s make an index of that collection . So the index is related to the NFT price itself and no related to projects. ON twitter for what I see CRYPTOPUNK and BORED APES are the most followed and discussed. If we could make a perpetual index on one of these collection it would be very very innovative to my point of view. and would create attention for sure. the main difficulty is I guess to have a reliable price feed on them. I INSIST saying that no one in the space has a tradable derivative contract on collectibles- so tome it worth to be look into it
A4: Those are excellent ideas and we have been doing so. For the past week we added several metaverse-topic symbols for the Inno zone (AXS, MBOX) and iBSCDEFI which is an index. A game-topic index will be added in the coming week. Please stay tuned.
Q5: Is there any minimum amount of trade or can I trade with 1 BUSD?
A5:With Deri, you trade per contract. Therefore the minimum amount is associated to one single contract. For example, the contract of BTCUSD has a multiplier of 0.0001, which means one contract is like holding 0.0001BTC (around 4USD as of now). With a min initial margin of 10% (i.e. 10X leverage), you could trade one single contract of BTCUSD with 0.4U deposited as margin.
Q6: Hi buddy, have you thought about creating a ASX pool to attract ASX hodlers to hedge their beloved coin using the same coin as collateral?
A6:AXS as trading symbol is already there. Check out the Inno zone.
But if you talking about AXS as base token, that’s a bit trickier. We need to do some research. That said, going forward we will have permissionless market. using bespoke base token is alway doable in that zone.
Q7: it would be great if someone from the dev team could propose a Vault to autofarm?
A7: I think currently the most important thing for Deri is to boost the trading volume. Deri is not a borrow & lending project so it does not need TVL as large as projects like AAVE/Compound/Venus. I don’t think TVL is a bottleneck for the time being.
Q8: Any updates on exchange listings?
A8: Will keep you guys posted in this regard
Q9: What’s up with the price difference between Coingecko.com and Coinmarketcap?
A9: That’s because they read prices from diff sources (i.e. exchanges).
0xAlpha: All right, so much for this. talk to you in the next AMA. Happy mining and trading with Deri!