The InsurAce team are ecstatic to inform the community that we have now partnered with Deri Protocol, a DeFi solution to trading derivatives on chain.
With Deri Protocol, trades are executed under AMM paradigm and positions are tokenized as NFTs, highly composable with other DeFi projects. Having provided an on-chain mechanism to exchange risk exposures precisely and capital-efficiently, Deri Protocol has minted one of the most important blocks of the DeFi infrastructure. Since its launch, Deri Protocol has gone through two major version iterations and has been supporting three major derivative types: Perpetual futures, Everlasting Options and Power Perpetuals. As of today, it has been deployed on multiple blockchain networks to serve traders’ hedging and speculating demands and processed a total trading volume of over 20 billion USD. Statistics show that Deri Protocol has become one of the most used DeFi derivative protocols per trading volume.
InsurAce.io has listed Deri Protocol on the InsurAce app (app.insurace.io) with an annual premium of just 2.8%. Smart investors are already using Deri as a trading solution, a partnership with InsurAce is the next logical step as our two leading protocols help to improve the DeFi ecosystem. We will be offering Smart Contract cover to protect users against hacks, bugs, and exploits.
As the solution to decentralized derivative exchange, Deri Protocol is designed with all the defining features of DeFi and financial derivatives in its nature
- Real DeFi: Deri Protocol is a group of smart contracts deployed on the Ethereum blockchain, where the exchange of risk exposures takes place completely on-chain.
- Real derivative: The PnL’s of the users’ positions are calculated with mark price updated by oracle, which ensures precision; positions are maintained by a margin, which provides built-in leverage.
- Composability: Positions are tokenized as non-fungible tokens (NFT), which can be held, transferred or imported into any other DeFi projects for their own financial purposes (as blocks in their own “lego game”).
- Universality: One trading pool of Deri V3 can simultaneously support different funding-fee-based perpetual derivatives! Consequently, the trading pools do not have to be organized by derivative types. Instead, liquidity could be organized in ways better serving the trading demands.
- External Custody: The user capital, upon deposit, will be stored into a money market protocol, which are proven by time and scale. Liquidity Provider and Traders earn additionally yield – interest and also the protocol’s liquidity mining rewards. (v3 pools)
- Dynamic mixed margin: Deri Protocol implements a new margin system, which accepts multiple base tokens at the same time! With such a system, trader can choose one or more from the supported range of base tokens to post a margin.
- Dynamic liquidity providing: Allows liquidity providers to choose one or more from the supported range of base tokens to provide liquidity. Also just like the margin value, the provided liquidity provided is dynamic too.
- Multiple trading symbols in one pool: Multiple trading symbols can be traded in one pool. This is to further enhance the capital efficiency, since different symbols are sharing the same liquidity hub.
- Simplicity: Deri protocol adopts an extremely simple trading process.
- Openness: anybody can launch a pool with any base token (but usually with a stablecoin, e.g. USDT or DAI). That is, the protocol does not enforce any specific “in-house chip”.
- Intercompatibility: The Deri Token is intercompatible and supports three different Blockchains through our unique Cross-Chain Deri Bridge. (Ethereum, Binance Smart Chain, and Huobi Eco Chain). Deri is also supported on Polygon, a 2nd layer blockchain scalability solution for ETH.
With the introduction of “external custody”, Deri Protocol V3 supports multiple base tokens with substantially higher scalability and capital efficiency. Also, the DPMM of Deri V3 universally supports the funding-fee-based perpetual derivatives. Consequently, it can more flexibly organize liquidity for derivative trading across different types. Derivative innovations are thus made much easier under the v3 framework. Deri Protocol V3 is a defining project of DeFi 2.0 that will bring the “lego gameplay” of DeFi projects to a new level.
“With a background as a CTO at one of Asia’s largest derivatives exchanges, I’m personally very excited about this partnership with Deri Protocol. It is fantastic to see such great projects entering the space and thriving. It is my honour that our team at InsurAce can offer protection against Smart Contract vulnerabilities to users of Deri Protocol to help make crypto safer for everyone.”
Oliver Xie, Founder, InsurAce.io
Our insurance options are KYC-free and can save users up to 80% compared to other DeFi insurance protocols when using our portfolio-style of coverage to protect all their bags across 140 protocols on 20 different public chains that we cover.
ABOUT DERI PROTOCOL
Deri Protocol is the DeFi way to trade derivatives: to hedge, to speculate, to arbitrage, all on chain. With Deri Protocol, trades are executed under AMM paradigm and positions are tokenized as NFTs, highly composable with other DeFi projects. Having provided an on-chain mechanism to exchange risk exposures precisely and capital-efficiently, Deri Protocol has minted one of the most important blocks of the DeFi infrastructure. Since its launch, Deri Protocol has gone through two major version iterations and has been supporting three major derivative types: Perpetual futures, Everlasting Options and Power Perpetuals. As of today, it has been deployed on multiple blockchain networks to serve traders’ hedging and speculating demands and processed a total trading volume of over 20 billion USD. Statistics show that Deri Protocol has become one of the most used DeFi derivative protocols per trading volume.
ABOUT INSURACE.IO
InsurAce.io is a decentralized multi-chain insurance protocol, to empower the risk protection infrastructure for the DeFi community. InsurAce.io offers portfolio-based insurance products with optimized pricing models to substantially lower the cost; launches insurance investment functions with flexible underwriting mining programs to create sustainable returns for the participants and provides coverage for cross-chain DeFi projects to benefit the whole ecosystem.
At the time of writing, InsurAce.io has provided coverage to 138+ protocols, safeguarding over $343M+ DeFi assets on 20+ public chains.
InsurAce.io is backed by DeFiance Capital, Parafi Capital, Alameda Research, Hashkey Group, Huobi DeFi Labs, Hashed, IOSG, Signum Capital, Long Hash Ventures and a dozen of other top funds.
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