Zug, Switzerland, August 4th, 2023, Chainwire
D8X’s pre-seed spherical options Polygon Ventures, Axelar Community, Swissborg Ventures and others
D8X, an institutional-grade decentralized alternate (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 extra 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,” stated Polygon Co-Founder Sandeep Nailwal.
Bridging CeFi to DeFi
D8X’s founders wager 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 supplies a white-label resolution to companions who act as brokers and earn charges by working their very own entrance ends powered by the D8X commerce engine and shared liquidity.
Monetary Engineering On Chain
D8X’s refined on-chain options curb costs and supply merchandise which might be aggressive with centralized exchanges, similar to cost-efficient hedging, a prerequisite for constructing a extremely purposeful spinoff buying and selling area. Contract buying and selling permits different DeFi protocols to effectively hedge on-chain. 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 facility of zero-knowledge proofs to chop transaction charges, enhance safety and scale operations throughout the Polygon and Ethereum networks.
“D8X is a part of a driving drive of innovation and group in Polygon’s 2.0 zero-knowledge area,” stated Polygon Director of Development Hamzah Khan.
D8X is a completely 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 deliver 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,” stated 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 gives white-labeling to establishments. D8X’s pricing mechanism adapts to altering market situations defending liquidity suppliers and worthwhile merchants in unstable durations, leading to superior DeFi buying and selling situations.
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