Derify Protocol Brings the Much-Awaited Innovation to DeFi and BSC Ecosystem
DeFi, or Decentralized Finance, was one of the most exciting stories on web 3.0, however, the craze has faded since the summer of 2021, amid a lack of innovation.
One of the most promising project on the market, Derify protocol is built and designed by a experienced market making team that works for some of the largest crypto exchanges, Derify protocol not only brings innovative ideas to the DeFi system, but builds a revolutionary version of derivative DEX with technical and operational solutions that differ from any of the predecessors or competitors.
Derify is a fully on-chain, non-custodial derivative DEX that allows you to trade derivatives fairly, safely and cost-effectively, traders can trade with leverage on any decentralized exchanges based on this protocol.
Originally built on Ethereum and now migrating to BSC and other EVM compatible chains (including Polygon, xDai, Avalanche), you trade with high performance and lightning speed, significantly reduced gas fees on Derify.
Derify has no cheating, manipulations or scamming issues like traditional CEXs, mitigates traditional Funding Fees, slippage cost or impermanent loss, provides a good experience and performance comparable to the best CEXs.
Innovative ideas can be found everywhere on Derify,
Derify uses hAMM as its market making mechanism, it is an improved version of the AMM model. It does not have an active price discovery mechanism and price feed comes from oracles. The core is to balance long and short positions instead of discovering prices, achieving slippage-free trading in the process.
Position mining is a liquidity incentive method designed for hAMM. It directly incentivizes all position holders, because in Derify’s model, holding position is equivalent to providing liquidity. Position Mining improves from the traditional LP mining system, with a better capital utilization rate and higher system security.
Derify adopts the four-layer risk control mechanism, include Position Change Fees (PCF), dynamic mining rewards, insurance pool and bonds.
For typical DeFi yield farmers, Derify also has a special Two-Way position that allows users to do position mining with minimal risk. The yield farming rewards APR can be 1000% or higher.
The great scalability of Derify protocol enables anyone to create any derivatives freely (as long as proper Oracles exist). It supports all types of derivatives (based on price index), e.g. on-chain assets like ERC-20 tokens, or off-chain assets like gold and crude oil.
The operation and governance model of Derify is also extraordinary, it adopts a fully decentralized model that Brokers and community independently participate in the operation and BD of the project. The work of promotion and user development is done by brokers. Anyone can become a broker and receive broker rewards.
For all those who hold our governance token DRF, firstly they can stake DRF to obtain eDRF tokens to obtain brokerage rights and governance rights, secondly, all profits obtained from Derify smart contracts will remain in the contract and be used to buy-back DRF Tokens, because the trading business is profitable in the long run, all token holders can share those profits.
Starting on March, 2021, Derify protocol and its developers made huge progress and multiple upgrades has been made, now the Derify Exchange, the first derivative DEX using Derify protocol has its beta version up and running, with billions of dollars worth of token has been traded every day on the testing app.
Derify protocol’s native governance token: $DRF will be launched on March 28 on BSC network, the auction sale and public sale will be followed by listing on popular AMM DEXs, enabling the whole BSC community to gain access to the token.
Important Links & Docs:
- Security Audit : https://www.certik.com/projects/derify-protocol
- Website: https://derify.finance/
- Whitepaper: https://docs.derify.finance/whitepaper/
- Testnet Website: https://derify.exchange/
- Twitter: https://twitter.com/DerifyProtocol
- Github: https://github.com/derivationlab
- Telegram: https://t.me/derifyprotocol_official
- Discord: https://discord.com/invite/kSR6tz2pdm
