The startup has developed a decentralized derivatives trading platform that enables traders to engage in perpetual contracts directly with a liquidity pool, eliminating the need for centralized market makers. This platform offers infinite liquidity, zero slippage costs, and zero impermanent loss, addressing the inefficiencies and costs associated with traditional trading systems.
Funding
$740K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional centralized exchanges (CEXs) for perpetual contracts often suffer from inefficiencies such as funding fees, price slippage, and potential price manipulation. These issues can lead to increased costs and risks for traders.
Solution
Derify Protocol is a decentralized perpetual contracts exchange that supports any fungible tokens, such as ERC20/BEP20, as collateral for trading. It eliminates the need for centralized market makers by enabling traders to engage directly with a liquidity pool. The platform offers features such as position mining for earning rewards, no funding fees, support for multiple collateral types, and no slippage costs. Prices are secured using external oracles, mitigating price manipulation risks and ensuring a transparent trading environment.
Target Audience
The primary target audience includes cryptocurrency traders, liquidity providers, and brokers seeking a decentralized platform for perpetual contract trading with reduced costs and increased transparency.
Features
- Supports any fungible tokens (ERC20/BEP20) as collateral for perpetual future trading
- Position mining: Holding positions provides liquidity and earns DRF token rewards
- No funding fees: Eliminates additional costs for holding positions
- No slippage: The visible price is the settled price, ensuring no price deviation
- Price feeds from external oracles to prevent price manipulation
- Fully decentralized: All major functions run by smart contracts
- DEX-as-a-Service (DEXaaS) model allows brokers to create their own derivative DEX
- DAO governance through DRF and eDRF tokens