The new burning mechanism of DERI token

  1. Call the buyAndBurnDeri function inside the protocol fee collector to buy DERI from DEX and transfer them to Burner1 on BNB Chain.
  2. Burner1 is coded to have one function only: uses the DERI bridge to transfer the DERI tokens from BNB Chain to Burner2 on Ethereum. Please note that Burner1 and Burner2 have to be deployed at the same address on the two networks, since the DERI bridge only supports same-address bridging.
  3. Once the DERI bridge signs the transfer, Burner2 can claim the transferred DERI tokens.
  4. Burner2 is coded to have one function only: send the claimed DERI tokens to the deadlock address.

About Deri Protocol

Deri, your option, your future!

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Deri Protocol

Deri Protocol

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