Deri Protocol is a derivatives exchange powered by blockchain technology. With it, users can hedge, speculate, perform arbitrage, and trade directly on-chain. The protocol relies on a non-custodial modified automatic market maker (AMM) approach to run trades.

The DERI token serves as the protocol’s native cryptocurrency and drives the wider ecosystem. It is an ERC20 token with a total supply of 469,497,679.

What are Deri Protocol key features and how does it work?

The platform provides trading products and services across three main derivatives categories: Perpetual Futures, Everlasting Options, and Power Perpetuals. Users can also carry out arbitrage trades through Deri Protocol. 

To support these functions, Deri Protocol uses a purpose-built architecture. Specifically, it implements an adjusted version of Proactive Market Making (PMM) called DPMM, or Deri Proactive Market Making. Liquidity comes from liquidity providers who contribute to pools that function as de-facto custodians. After that, traders deposit margins to open futures or options positions.

The system also includes funding and pricing tools for each funding-fee perpetual derivative. In this way, the DPMM helps manage perpetual futures or everlasting options while determining prices. For instance, for perpetual futures, the DPMM uses an algorithm that guides the mark price toward the trade’s direction when a trade occurs; the resulting price shift matches the trade size.

What is noteworthy about Deri Protocol?

Deri Protocol runs its own governance framework called the Deri Improvement Proposal (DIP). Community participants can contribute to the DIP and submit proposals through the DIP Submission Form. Proposals are discussed within the protocol’s Discord governance group, and if the community supports a proposal, it proceeds through on-chain review and voting by the full Deri community. If approved, it is then sent to developers for execution.

What can DERI be used for?

DERI, the protocol’s native token, is used to participate in Deri Protocol governance, and holders receive additional privileges. These include liquidator eligibility and VIP transaction fee discounts.

Where can you buy DERI?

DERI can be traded on the CEXs and DEXs shown here. The most widely used exchanges with the highest liquidity are MEXC Global, Gate.io, and Pancake Swap. DERI’s price changes based on the exchange selected and broader market conditions. For the latest and historical DERI market figures, check the price charts on this page.