BSCDaily.com hosts Deri Protocol: a decentralized protocol to exchange risk exposures precisely and capital-efficiently.
BSCdaily – Admin: Hello and welcome to BSC Daily, @im0xAlpha! How is your day?
0xAlpha: Hi everyone, nice meet you here
BSCdaily – Admin: Happy to hear! Ready to start our AMA?
0xAlpha: Sure, let’s do it now!
BSCdaily – Admin: Nice
Q1: What is Deri Protocol all about? Give us a little summary
0xAlpha: Deri is a decentralized protocol for users to exchange risk exposures precisely and capital-efficiently. It is the DeFi way to trade derivatives: to hedge, to speculate, to arbitrage, all on-chain.
While there are already derivatives solutions for crypto, most of them are either centralized or insufficient to meet the needs and demands of potential DeFi clients. Simply speaking, the ultimate solution to exchanging risk exposures in the crypto world has to be something original and organic within the blockchain. And that’s exactly what Deri Protocol stands for!
Q2: Could you tell us a little bit about yourself and your team? What are your past experiences?
0xAlpha: I am 0xAlpha, Co-founder and CEO. I am a Physics BS from Peking University, Physics Ph.D. from Rice University. We have a diverse team with backgrounds of tech and finance.
I have worked in Wall Street on derivative pricing/trading/structuring/risk management in Deutsche Bank, HBK hedge fund, Goldman Sachs. Co-founded a quantitative hedge fund focused on traditional and crypto derivatives. The rest of the team are professionals in the fields of economics, quantitative trading and solidity programming.
Q3: Why did you and your team decide to build Deri Protocol?
0xAlpha: As the DeFi market continues to expand, it will definitely enter a more complex zone to deal with risk in the future.
The core tool invented by traditional finance to manage risk is financial derivatives. Based on the status of risk management in the entire modern financial system, we can say that derivatives are the jewel in the crown of modern finance.
Derivatives are created to efficiently and accurately control financial risks with lower capital costs. I believe that everyone can also see one of the most obvious opportunities for derivatives to bring DeFi to the field. A larger subsection of crypto traders are paying attention to derivatives and I believe it will accelerate soon.
Q4: Can you share with us your tokenomics? And what are some of $DERI use cases?
0xAlpha: Ultimate Total Supply (Fully Diluted Total Supply) = 1,000,000,000 . This is the number of DERI after all the mining tokens are mined out (in decades)
Initial Total Supply = 400,000,000. This is the number of DERI minted at DERI’s genesis block. These are the non-mining part and are distributed to the team, investors and foundation (project treasury). Among them, 360,000,000 are locked for the team and investors.
Currently, the mining rate of DERI is around 1M per week, including 3 parts:
1. Liquidity mining in trading pools by providing base tokens
2. Liquidity mining with the DERI-USDT SLP staking in Sushiswap’s Onsen pool and Pancake’s Syrup pool
3. Mining by trading (0.01DERI per contract or distributed per volume weight if breaching the hourly upper limit)
https://docs.deri.finance/tokenomics has all the info and breakdown.
Q5: Then where can we buy $DERI?
0xAlpha: DERI is being mined on 3 networks: Ethereum, BSC and HECO. DERI is currently on SushiSwap and Pancake Swap. You can find the swap link on our website https://deri.finance/
Q6: The next question is about audit. Does $DERI get audited?
0xAlpha: Sure, security first in Deri! With launch of Deri Protocol V2, security audits from Peckshield and Certik were carried out to reduce the threat of direct protocol vulnerabilities. The reports are available on our website https://docs.deri.finance/code-audits
Q7: Can you share a little about your roadmap? What can we expect in the next 3 months and in 2021 as a whole?
0xAlpha: With launch of Deri Protocol V2 last Friday, we believe that Deri Protocol will provide the extreme capital efficiency with new features: dynamic mixed margin, dynamic liquidity providing and multiple symbols in one pool.
And in the coming weeks, we will be onboard Polygon to expand Deri community , meanwhile, we will support more base token on Deri Protocol V2
In the second half year, we will provide everlasting option and support more trading symbols on Deri Protocol
Q8: Where can we find out more about Deri Protocol?
0xAlpha: Medium: https://deri-protocol.medium.com/
BSCdaily – Admin: With this we are now at the end of our AMA session with Deri Protocol
Time for wrapping up, any last words you would like to say to our community? @im0xAlpha
0xAlpha: Please come and try out Deri! Hope you guys can enjoy trading and mining here!
BSCdaily – Admin: Thank you so much for spending time with our community & all the very best for Deri Protocol