InsurAce partners with Deri Protocol, a DeFi solution to trading derivatives on the chain.
Additionally, with Deri Protocol, trades are executed under the AMM paradigm, and positions are tokenized as NFTs, highly composable with other DeFi projects.
Furthermore, having provided an on-chain mechanism to exchange risk exposures precisely and capital-efficiently. Deri Protocol has also 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.
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. The platform will be offering Smart Contract cover to protect users against hacks, bugs, and exploits.
Features of Deri Protocol
- Real DeFi: Deri Protocol 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 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!
- External Custody: The user capital, upon deposit, will be stored in a money market protocol, which is proven by time and scale. Liquidity Provider and Traders earn additional yield – interest and also the protocol’s liquidity mining rewards. (v3 pools)
- Dynamic mixed margin: Deri Protocol implements a new margin system. Accepts multiple base tokens at the same time! With such a system, traders can choose one or more from the supported range of base tokens to post a margin.
- Dynamic liquidity providing: 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).
Furthermore, with the introduction of “external custody”, Deri Protocol V3 supports multiple base tokens. 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. 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
InsurAce insurance options are KYC-free. Can save users up to 80% compared to other DeFi insurance protocols. Using portfolio-style of coverage to protect all their bags across 140 protocols on 20 different public chains that the platform cover.
ABOUT Deri Protocol
Deri Protocol is the DeFi way to trade derivatives: to hedge, speculate, arbitrage, all on chain.
InsurAce.io is a decentralized multi-chain insurance protocol, to empower the risk protection infrastructure for the DeFi community. InsurAce.io also 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.