Deri Protocol is a decentralized (DeFi) derivatives trading platform running on Ethereum (ETH), Polygon Network, Binance Smart Chain (BSC), and Huobi Ecological Chains.
Deri Features
- Trades are done with smart contracts running automated market makers (AMMs).
- Allows users to hedge and arbitrage on chain.
- Connects with MetaMask, Wallet Connect, and Coinbase Wallet
- Positions become NFTs that are easily tradeable.
- Created cross-chain bridges which enables trades between ETH, BSC, Polygon, and Heco.
- 20% of transaction fees go to the liquidity provider, 80% burn DERI tokens
- DERI tokens can be exchanged on PancakeSwap and SushiSwap
Summary and Possible Pain Points
Cross-chain bridges are historically vulnerable to exploits and hacks, which may be a problem for Deri in the future. Their security has been solid in their first year and a half, though.
Deri is a new approach to decentralized derivatives trading that is accurate and efficient. It’s a vital industry for DeFi to attack if there is to be mass adoption.
The derivatives markets are gigantic, murky, and secretive. They include the biggest players in banking and investing. As a result, nobody knows the true value of global derivatives out there. I have heard a few estimates over $2 QUADRILLION, but it could be much more.
This industry will not be disrupted easily, especially since DeFi can bring transparency and those involved in derivatives trading probably won’t like that. Time will tell if Deri or other new DeFi protocols can make an impact.