News
02 July 2020

As DEX volume explodes, a new competitor enters the market for decentralized derivatives

DerivaDEX, a recently announced decentralized exchange for derivative contracts, unveiled its plans to launch this quarter. The project was incubated by Polychain Capital and recently raised $2.7 million from them along with Dragonfly Capital Partners, Coinbase Ventures, CMS Holdings, Three Arrows Capital, and others. DerivaDEX looks to distinguish itself by being decentralized from the start and will enable token holders to govern the network. There will also be a variety of opportunities to earn DDX tokens through testnet competitions and liquidity mining. Why it matters - Volumes on decentralized exchanges have surged in the last few weeks reaching all-time highs of half a billion in weekly volume. This demonstrates a growing demand for non-custodial trading, however, the derivative market is becoming increasingly saturated as projects such as dYdX and Futureswap offer decentralized perpetual swaps. - Liquidity mining is all the rage since Compound first began theirs a few weeks ago. DerivaDEX plans to utilize similar incentive mechanisms but believes it will be “sane” compared to existing options.

The developers behind CryptoKitties, Dapper Labs announced a new $12 million fundraising round which includes several high profile NBA players like The Brooklyn Nets' Spencer Dinwiddie and Garrett Temple, the Miami Heat's Andre Iguodala, Los Angeles Lakers' JaVale McGee, and Aaron Gordon from the Or...
The oracle problem is one of the most well known problems in crypto. How do blockchains bridge the gap between the on and off-chain worlds? In theory oracles will occupy a critical role in sending and receiving data between smart contracts and the real world. However, while the need is clear, the ad...
Uniswap experienced a record-setting month this past July on multiple accounts. On July 27 Uniswap trading volume reached $120 million and the decentralized exchange saw nearly day-over-day growth of liquidity provided to the platform. Additionally, people are searching for Uniswap like never befor...

3 coins to keep an eye on 👀