Derived Set To Launch its Initial Token Offering on OccamRazer and Poolz!

Decentralized multi-chain asset protocol, Derived is planning the launch of its initial DEX offering, popular as IDO, on October 13, 2021. The platform’s token is expected to launch its native token, DVD, on OccamRazer decentralized launchpad and Poolz, a decentralized cross-chain IDO platform, a statement from the team reads. 

Speaking on the upcoming IDO launch on OccamRazer, Bharat Verma, CEO of Derived Protocol stated, 

“We are pleased to work with the Occam.fi team and host our IDO on OccamRazer! Through Occam.fi’s official links with cFund, IOHK, and EMURGO, they are perfectly placed to help our project grow and deliver decentralized trading infrastructure for Cardano.”

Derived is a decentralized synthetic asset protocol that allows users and traders access to stocks, commodities, foreign exchange, or cryptocurrency assets on multiple blockchains. The platform aims to ease decentralized trading of synthetic assets on its platform by reducing fees and allowing cross-chain transfer of assets. 

Once launched, DVD aims to incentivize Derived users to trade, stake, and mint USD-stablecoins tokens on the platform. It will also provide liquidity for users to leverage synthetic assets across multiple blockchains and reduce the fees and costs, providing an improved global decentralized marketplace for cross-chain synthetic asset trading. 

Derived leverages Polkadot’s ecosystem of parachains to connect leveraged trading across multiple chains. The decentralized exchange (DEX) optimized leveraged trading by providing users with unlimited liquidity and no slippage. By leveraging the power of smart contracts on Polkadot, Cardano, and other multiple chains, users can now trade derivatives, enjoy leveraged staking, and trade a range of assets on the global platform. It bridges the complex traditional derivatives market with the growing digital finance world of cryptocurrencies. 

Elliot Hill, Head of Communications at Occam.fi said;

“At Occam.fi, we’re delighted to leverage our experience of the Cardano ecosystem to catapult Derived to success, in parallel with the growth of the DeFi ecosystem on Cardano”

Once launched on Occam.fi’s and Poolz, DVD will be used as an incentive to reduce the fees on the DEX and increase traders’ adoption rates on the platform. Furthermore, the token will be used for staking and minting purposes, fee generation, and protocol governance within the Derived ecosystem. The derivatives trading platform is working on launching more features in the future, the statement added. 

Users can connect Derived on multiple blockchains including Binance Smart Chain, Ethereum, Polkadot, Avalanche, and Cardano. The executive dev team expects more blockchains to be added once the token’s IDO launchpad is complete. 

For now, users can use leveraged minting positions of up to 3X for its native USD stable coin, xUSD, and earn staking rewards in the process. Derived is the first-ever DEX allowing leveraged minting of hybrid assets in both the crypto field and traditional finance market, trading binary options, and other global native currencies on its platform.

   
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