Crypto Derivatives Platform Delta Exchange Announces Launch Of New Exchange Tokenbr>
Digital asset derivatives exchange Delta Exchange has announced the debut of its native token DETO alongside the launch of the first centralized Automated Market Maker (AMM) pool for crypto derivatives.
Delta Exchange is pioneering the sphere of stablecoin-settled contracts and supplying one of the largest markets for Altcoin Futures. The company’s mission is to provide efficient ways for retail and institutional investors to participate in derivatives trading. It is dedicated to helping clients leverage high-quality derivatives investment opportunities.
According to the exchange, DETO will launch with an initial supply of 500 MN tokens; of this 100 MN will be given away as rewards for liquidity mining, trade mining or referral mining in the first year. DETO earned by participating in these activities will be released on a daily basis.
The Exchange will use 25% of the fees earned on the platform to buy-back DETO tokens. These tokens will be contributed back to the rewards pool, which will be further used for providing rewards for liquidity mining and for other activities in the Delta Exchange ecosystem. DETOs earned can be used to pay fees on the exchange and will be accepted as collateral in the future.
“Delta Exchange is hosting a private sale of DETO and interested parties can purchase the token by participating in the private sale,” Delta Exchange said. “There will be three rounds, with a total of 175 million tokens to be sold in the private sale. Delta Exchange is backed by leading investors and projects like Aave, CoinFund and Kyber Network; and is looking to onboard more of such partners from the ecosystem via this private sale.”
After launching, liquidity mining for DETO via AMM on Delta will be opened on BTC-USD and BTC-USDT perpetuals, allowing liquidity providers to commit BTC or USDT to pools and earn DETO rewards in addition to returns generated from market making.
“We are excited to introduce DETO and become one of the first centralized exchanges to explore utilizing AMM for increasing liquidity and lowering slippages on the derivatives side,” said Pankaj Balani, CEO of Delta Exchange. “This will open up yield farming for BTC holders and the Bitcoin ecosystem and will set DETO at the heart of it. AMMs on a centralized derivatives exchange for top pairs such as BTC-USD will democratize market making. It will make market-making, which is otherwise capital intensive, accessible to retail customers. Additionally, AMMs will drive liquidity on Delta Exchange’s order books, resulting in an improved trading environment and giving traders a far superior method of evaluating the platform than just looking at trading volumes.”