Derivable - 1st truly AMM-DEX for perpetual futures

Dora Grant DAO
1

Intro

Derivable is the 1st AMM-DEX protocol that tackles the challenges of perpetual and futures exchanges head-on. We’re here to revolutionize the DeFi space, offering a secure, decentralized, both onchain and offchain efficient protocol that opens up new opportunities for traders, market makers and liquidity providers alike.

To accelerate our development and deployment, we’re seeking a $50,000 USD grant from the Dora GrantDAO. This grant will bring our vision to the market and transform the way people engage with perpetual futures trading in decentralized manners.

Problems & Derivable’s solution

Uniswap solves the spot DEX problems. Derivable solves the perpetual futures DEX problems.

Perpetuals and futures exchanges (both CEXs and DEXs) have been struggling with position liquidation and counter-party risks, along with the complexity of computing premium and funding rates, as they depend on many independent factors, including price volatility, funding time, and market balance. Derivable introduces a novel derivatives pricing method based on our invention of asymptotic power curves. These curves allow us to construct an innovative AMM model for perpetual swap of any index value with NO risks of liquidation or under-collateralization.

Derivable protocol can efficiently run on Ethereum mainnet without any permissioned role or centralized backend service. It allows perpetual pools of any token pair to be created, and anyone can take sides as either liquidity providers or long-short traders. In Derivable’s pools, long and short “positions" are tokenized as fungible tokens with no risk of liquidation and will deleverage themself as they approach the pool reserve.

Derivable’s Main Features

  • FREE & PERMISSIONLESS: on top of Derivable AMM, any one can create any perpetual pool of any spot-trading pair, participate as liquidity providers or long-short traders.
  • NO LIQUIDATION: traders don’t need to worry about liquidation for all their positions.
  • INFINITE LIQUIDITY: like Uniswap’s AMM paradigm, Derivable’ liquidity reserve per pool is never run-out, although it may very small. This thanks to asymptotic power curves constructing Derivable’s pools. Thus, Derivable’s perpetual pools are everlasting with NO risk of under-collateralization or bank-run.
  • INTEREST RATE is applied for long-short positions to compensate LPs.
  • PREMIUM FEE is an optional configuration for pool creator to prevent imbalanced market and manipulation, hence protecting LPs from unfavourable loss.
  • FULLY DECENTRALIZED: utilizing decentralized oracle price-feed, Derivable is automatically and fully decentralized AMM-DEX for perpetual futures trading with NEITHER backend service NOR centralized role.

Derivable Team

Tuan Anh Pham - Founder, Architect, senior blockchain developers

Paven DO - R&D Lead, Co-founder

  • Former CTO & Co-founder of Spores
  • Head of Development of FPT Blockchain Lab, FPT Corp
  • PhD candidate at Hong Kong University of Science and Technology

Max Rogue - COO

  • Head of Product at NGS Corp
  • Co-founder of Blockchain community with 100k members

Krist Pham - CMO

  • Former Head of Vietnam Marketing at Huobi

Berlin Pham - Smart-contract Dev

Anh Quang Nguyen - Smart-contract/Fullstack Dev

Khanh Pham - Smart-contract/Front-end Dev

Milestones

  • December 2022: demo release
  • March 2023: completed mathematical formalization for asymptotic power curves
  • July 2023: tentative Beta Production launch on L1 & L2 mainnets

Use of Grant

The grant provided to Derivable will be utilized for:

  1. Product development & deployment $15,000 USD

  2. Contract & protocol audit $20,000 USD

  3. Marketing and go-to-market activities $15,000 USD

At Derivable, we head to complete the DeFi space by an innovative AMM-DEX for perpetual swap and derivatives. We eagerly anticipate a positive response and continued support from the DoraHacks community.

Big Thanks,

Derivable Team.
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