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[Press Release – Zug, Switzerland, August 4th, 2023]
D8X’s pre-seed spherical options Polygon Ventures, Axelar Community, Swissborg Ventures, and others
D8X, an institutional-grade decentralized trade (DEX) for derivatives on Polygon zkEVM, introduced a $1.5 million pre-seed spherical with assist from Polygon Ventures and different notable traders. The capital will assist D8X launch a decentralized derivatives buying and selling platform within the second half of 2023 that gives a white-labeling resolution to buying and selling companions in search of entry to highly effective derivatives merchandise.
The pre-seed spherical for D8X contains further participation from Axelar Community, Swissborg Ventures, Cogitent Ventures, Veris Ventures, G1 Ventures, Pragma Ventures, CryptoDiscover, and others.
“DeFi is reshaping the way forward for finance. Tasks like D8X are constructing the infrastructure that may assist legacy finance to leap into web3,” mentioned Polygon Co-Founder Sandeep Nailwal.
Bridging CeFi to DeFi
D8X’s founders guess on centralized gamers wanting to supply decentralized crypto derivatives to their purchasers with out having to rent specialists to develop in-house market-making and buying and selling engines. D8X gives a white-label resolution to companions who act as brokers and earn charges by operating their very own entrance ends powered by the D8X commerce engine and shared liquidity.
Monetary Engineering On Chain
D8X’s subtle on-chain options curb prices and supply merchandise which might be aggressive with centralized exchanges, equivalent to cost-efficient hedging, a prerequisite for constructing a extremely purposeful by-product buying and selling area. Contract buying and selling permits different DeFi protocols to hedge on-chain effectively. Their perpetuals might be calibrated for a variety of property and assist—as a primary in DeFi—linear, inverse, and quanto perpetuals. At launch, a liquidity pool in Lido’s staked ETH (stETH) will allow liquidity suppliers to earn the Lido yield whereas concurrently taking part within the DEX’s earnings.
D8X is the primary business-to-business (B2B) DEX constructed on Polygon’s zkEVM, harnessing the ability of zero-knowledge proofs to chop transaction charges, improve safety and scale operations throughout the Polygon and Ethereum networks.
“D8X is a part of a driving power of innovation and neighborhood in Polygon’s 2.0 zero-knowledge area,” mentioned Polygon Director of Development Hamzah Khan.
D8X is a totally decentralized DEX following regulatory steerage from Switzerland’s monetary market regulator FINMA.
“We thank all our traders for believing in D8X’s imaginative and prescient to convey actually decentralized derivatives as white-labeling options to establishments. With best-in-class monetary engineering and danger administration, D8X is altering the best way decentralized derivatives are traded,” mentioned D8X co-founder Caspar Sauter.
The manufacturing codebase of D8X was audited by PeckShield, and an earlier model was audited by Hacken.
About D8X
D8X is a Polygon Ventures-supported institutional-grade perpetual futures DEX with a monetary engineering strategy that elevates the best way perpetual futures might be traded on-chain. Consider a robust and decentralized buying and selling platform on Polygon zkEVM that provides white labeling to establishments. D8X’s pricing mechanism adapts to altering market circumstances defending liquidity suppliers and worthwhile merchants in risky durations, leading to superior DeFi buying and selling circumstances.
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