What is DerivaDAO? DerivaDAO is the DAO (Decentralized autonomous organization) that manages DerivaDEX, a Coinbase-backed decentralized DEX for derivative contracts built on Ethereum. As Kriptokoin.com, we will look for an answer to the question What is DerivaDAO in this article. In addition, we will also touch on other questions about DerivaDAO.
What is DerivaDAO?
DerivaDAO is an Ethereum protocol that powers Deriva DEX, a decentralized exchange for Derivatives contracts. It has an open order book. It uses matching engines and liquidation operators to ensure fast and efficient transactions of synthetic assets.
Who is the founder of DerivaDAO?
DerivaDAO was founded by Duke University graduate Aditya Palepu, a former software engineer. Apart from Palepu, another successful software engineer Frederic Fortier and eight other people work on the project. However, DerivaDAO has received support from many investors. Among the supporters of the project, which raised $2.7 million in funding during the fundraising process, are well-known investment companies such as Polychain Capital, Coinbase Ventures and Three Arrows Capital.
What is Deriva DEX?
It is a crypto derivatives exchange that combines the performance of centralized exchanges with the autonomy of decentralized exchanges. It is built on Ethereum. It is managed by the community. Additionally, it uses a special liquidity mining token system to put the user in control.
What is DDX token?
The cryptocurrency of the project is DDX. It is an ERC-20 governance token built on the Ethereum network. It allows token holders to participate in the management of Deriva DAO. In addition, DDX can be used to pay low exchange fees within the platform. However, DDX holders also have the opportunity to stake the token.
What is the total supply and current price of DerivaDAO?
According to Coinecko data, DerivaDAO’s maximum supply is 100,000,000 DDX. However, the total supply amount of the project is $53,213,523 and the circulating supply amount of the project is 26,094,663 DDX. Additionally, the last 24-hour trading volume of the project is $418,257 while its market cap is $28,070,464. DDX is currently trading at $1.07 on cryptocurrency exchanges. However, in August 2021, it rose as high as $15.28 and broke its own price record.
What is DerivaDAO? How to get DDX?
The project is currently traded on a small number of cryptocurrency exchanges. Users who want to invest in the project should open an account on one of the exchanges where DerivaDAO is traded. The exchanges that the project is currently trading are as follows: Coinbase, Uniswap, Sushiswap. People who want to invest in the project should open an account in one of these exchanges we have listed. Additionally, investors can deposit USDT etc into their wallets. must add a cryptocurrency.
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