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D8X, a decentralized exchange (DEX) for derivatives, has been launched on Polygon’s zkEVM, aiming to deliver an institutional-grade platform for participants in decentralized finance (DeFi).
In a recent press announcement, the firm revealed its debut on Polygon’s zkEVM, outlining plans, use cases for institutional clients, on-chain solutions, and various stablecoin integrations as it seeks to establish alternatives to USD-based assets.
The announcement indicated that the platform is backed by Polygon Ventures to transform how users engage with decentralized exchanges, enabling institutional investors to trade perpetual futures effortlessly using on-chain tools.
The platform incorporates several interoperable features, including white-label partnerships that will connect firms’ traders to D8X, allowing them to earn a commission through the revenue model.
Traditional perpetuals are also available to traders without rollover or borrowing fees, applicable to a broad spectrum of assets.
Liquidity providers can earn fees through the automated market maker (AMM) options, featuring a risk management framework akin to those utilized in “enterprise-wide risk management” and clearing houses.
“Liquidity provision, liquidations, and order execution are decentralized. With our white-label model and our robust on-chain governance, institutional professionalism and decentralization go hand in hand.”
By applying traditional finance derivative pricing principles, D8X minimizes risks and expenses while enhancing efficiency.
D8X Aims for Steady Growth
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Casper Sauter, the co-founder of D8X, noted that the advancement of DeFi has prompted banks and other financial institutions to enter the sector, positioning the platform as a solution that offers an incorruptible financial system.
“For the first time in DeFi, D8X provides linear, inverses, and quantity perpetuals, allowing users to select their collateral, base, and quote currencies to manage their exposure and control their risks,” the statement indicates.
Sauter informed CryptoNews that the company anticipates around 5,000 trades per month during the zkEVM phase in February and March.
In Q2 2024, D8X expects to double its size compared to the first quarter following the activation of the zkEVM and the “go-live of X1 mainnet.”
Diverse stablecoin offering
D8X intends to introduce diversification to the dominance of the USD stablecoin by launching a EURO stablecoin pool. This initiative will provide investors with yield-bearing opportunities developed in collaboration with Polygon and Angle Protocol.
This strategy will enable EUR-based users to hedge their exposure to the dollar. Pablo Veyrat, the co-founder of Angle Protocol, mentioned that both companies are bringing a pioneering innovation to DeFi with EUR/USD FX perpetuals collateralized in stEUR.
“Traders can also collateralize trades in other assets. In addition to USDC, a liquidity pool in Lido’s staked ETH (stETH) will allow traders to engage with stETH and enable liquidity providers to earn the Lido yield while also participating in the DEX’s earnings.”
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