DerivaDEX (DDX)

 Basics

• Founded in:
• Mainnet release:
• Based in:
• DerivaDEX is a decentralized exchange for derivative contracts built on top of Ethereum. It’s a community-owned exchange with a liquidity-mining token model that puts control directly in the hands of users.

Token

Utility

• Allows (2-7-2020) users to participate in the governance and operations of the exchange. 

Tech

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

Transaction Details

• Capacity (TPS):
• Latency:

How it works

• From their announcement (2-7-2020):

"Centralized exchanges have strong UXes and lots of liquidity, but they have weak security and cumbersome regulatory constraints. On the other hand, you have decentralized exchanges, which provide cryptographic security, but offer few products, are very illiquid, and have terrible UXes.

We think there is a third way. By leveraging trusted hardware and garnering our decentralization on the base layer, DerivaDEX will be a next-generation exchange. We have three key properties above derivative platforms today:

1. Decentralized autonomous organization (DAO): solves for censorship-resistance and single point of failure concerns.
2. Open order book, no AMMs; on-chain settlement: offers traders a familiar, performant, and capital-efficient UX, as opposed to the common automated market maker (AMM) design used by most DeFi projects. Off-chain price feeds, matching engine, and liquidation operators solve for speed and efficiency, allowing us to synthetically represent any asset and offer a tighter bid/ask spread.
3. Liquidity-mining: carefully-engineered and robust model highly incentivizes participation in the governance and operations of DerivaDEX."

Roadmap

• Can be found [Insert link here].
• From their announcement (2-7-2020):

"While we are launching in Q3 of this year, in the coming weeks we will be sharing deep dives into our framework’s economy, technical architecture, and roadmap."

Audits

• Bug bounty program can be found [insert here].
• Scored a 31% on DeFi Safety (18-2-2021). With the comment: "because they won't publish their GitLab address on their site or docs. This drives their audits to zero. Just add a link.."

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].

• From their announcement (2-7-2020):

"I’ve spent the majority of my career as an institutional quant trader at DRW (home of Cumberland, for all you crypto folk), trading pretty much everything under the sun. My co-founder has been running his own biotech and crypto fund for the past 10 years."

Funding

• From their announcement (2-7-2020):

"We’ve raised $2.7 million through two rounds of financing and recruited an all-star team of backers — Polychain Capital, Dragonfly Capital Partners, Electric Capital, Coinbase Ventures, CMS Holdings, Three Arrows Capital, Calvin Liu (strategy lead at Compound), and Phil Daian (cryptocurrency researcher)."

Partners 

• Participated in the DeFi Alliance’s accelerator program (18-9-2020).