Deriswap

 Basics

• Announced on: 23-11-2020
• Mainnet release:

• From the announcement (23-11-2020):

"Deriswap allows for a consolidated, capital efficient market for trading, Options, Futures, and Loans, allowing LPs to keep their exposure and enjoy additional fees and rewards."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on: Ethereum

How it works

• From the announcement (23-11-2020):

"The swap contract is standard Uniswap x * y = k. LPs provide ETH-BTC as liquidity. Traders can swap ETH to BTC and vice versa. LPs earn trading fees.

The above derived values allow us to quote Call/Put options using Black Scholes. These are American options, and can be settled at any point in time. Settlement occurs in the pair assets, so a Call needs to buy the full value, and a Put needs to sell the full value. Full settlement was also selected since the LPs have a perpetual position on the pair itself, if only profits are settled that is a permanent loss, however if the underlying is settled, that is impermanent loss.

Futures extend and simplify off of Options, you pay a premium as well as the underlying and this allows you to settle against the other pair at user defined future date.

Loans extend and simplify off of Futures, you pay a premium as well as the collateral and this provides you the borrowed asset. You can then settle the borrowed asset before the user defined future date, or forfeit the collateral.

Loans, Futures, and Options are all tokenized via Non Fungible Tokens (NFT) that allow the trade/creation of secondary markets."

Oracle Method being used

• From the announcement (23-11-2020):

"The TWAP oracle was expanded to take readings every 30 minutes, this allows us to report realized variance, realized volatility, implied volatility (derived from Realizing Smiles), and price over an arbitrary selected time series."

Upgrades

• After the yEarn and SushiSwap merger (1-12-2020), it was announced that Sushi will now help launch Deriswap.

Roadmap

• Can be found [Insert link here].

Audits

• Bug bounty program can be found [insert here].
• From the announcement (23-11-2020): "currently under audit"

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].
• Andre Cronje; creator