The startup has developed a decentralized derivatives trading platform that utilizes smart contracts on an Ethereum blockchain to facilitate on-chain trading of perpetual futures and everlasting options. This platform enables users to trade derivatives without relying on centralized exchanges, thereby enhancing transparency and reducing counterparty risk.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional centralized exchanges present challenges for derivatives trading, including lack of transparency, potential for manipulation, and counterparty risks. These issues can lead to a lack of trust and efficiency in the derivatives market.
Solution
Deri Protocol offers a decentralized solution for trading derivatives by utilizing smart contracts on multiple Layer 1 and Layer 2 blockchains. The protocol enables users to trade perpetual futures, everlasting options, power perps, and Gamma swaps directly on-chain, eliminating the need for intermediaries and enhancing transparency. By consolidating liquidity across various networks, Deri Protocol ensures deeper and more robust markets, reducing fragmentation and slippage. The protocol employs a Dynamic Proactive Market Making (DPMM) mechanism and external custody to provide efficient and secure trading, while tokenizing positions as NFTs to enable composability with other DeFi projects.
Target Audience
The primary target audience includes DeFi traders, liquidity providers, and arbitrageurs seeking a transparent, efficient, and composable platform for trading derivatives on-chain.
Features
- Support for perpetual futures, everlasting options, power perps, and Gamma swaps
- Cross-chain consolidation of liquidity across multiple Layer 1 and Layer 2 blockchains
- Dynamic Proactive Market Making (DPMM) mechanism for efficient price discovery
- External custody of user capital in established money market protocols
- Tokenization of positions as NFTs for composability with other DeFi projects
- Real derivative PnL calculation with mark price updated by oracle
- Margin-based positions with built-in leverage
- Governance through Deri Improvement Proposals (DIPs)