DePerp currently utilizes the Pyth Network:
- Market Data Access: DePerp leverages Pyth's real-time price feeds for a wide range of assets, benefiting from their ultra-low-latency and high-frequency updates.
- Financial Product Optimization: Utilizing accurate and timely market data from Pyth, DePerp enhances its financial products and services.
- Transparency and Quality Assurance: DePerp ensures the reliability of its services by using Pyth's first-party data, minimizing the risk of data inaccuracies.
- Data Consumption Efficiency: DePerp uses Pyth's 'Pull Oracle' model for gas-efficient and on-demand price updates.
- Historical Data Analysis: DePerp incorporates Pyth Benchmarks for informed decision-making and product structuring, based on reliable historical market data
Powered by: Pyth Network 🔗
DePerp Fees vary by market, let's look at some examples below.
Taker (Open) 0.05%
Maker (Close) 0.05%
Metals, Forex, Equity & ETFs
Taker (Open) 0.02%
Maker (Close) 0.02%
There is also an execution fee detailed below which is used to pay for the blockchain network costs.
Funding rates for each market and collateral asset are determined hourly, taking into account the real-time imbalance of open interest. This dynamic calculation allows for a more accurate reflection of market conditions and helps maintain a balanced trading environment.
Funding fee = (Funding Factor- (Open Interest(short) - Open Interest(long)) /(Open Interest(long) + Open Interest(short))) / (365 * 24)
There are two transactions involved in opening / closing / editing a position:
User sends the first transaction to request open / close / deposit collateral / withdraw collateral
Guardians observe the blockchain for these requests then execute them.
DePerp order types are specific instructions that traders give to exchanges to help them buy or sell assets at desired prices and under specific conditions. Understanding and using various order types can help traders execute their strategies more effectively and manage their risk. At the moment, all markets are isolated for the selected collateral.
Buy Market Order
This order type allows you to buy an asset immediately at the best available price. It's executed quickly, ensuring that you don't miss out on a potential opportunity. However, since it's executed at the current market price, you may end up buying at a higher price than anticipated if the market is volatile.
Buy Limit Price Order
With this order type, you can specify the maximum price at which you're willing to buy an asset. Your order will only be executed if the asset's price falls to or below your specified limit. This helps you control the cost of your purchase but may result in your order not being executed if the price doesn't reach your limit.
Stop-limit / Stop-loss
A stop order on a DePerp is a special rule you set to help you trade contracts that don't have an end date. There are two main types: stop-loss orders and stop-limit orders.
This is like saying, "If the price goes down too much, sell my contract automatically." It helps you avoid losing too much money.
This is like saying, "If the price goes down to a certain point, try to sell my contract, but only if I can get a good price for it." It helps you control how much money you might lose.
To use stop orders, follow these steps:
Choose the contract: Pick the trading pair you want to trade on the DePerp exchange (e.g., BTC/USD).
Set a stop price: Decide the price that will trigger your stop order.
Pick the order type: Choose between stop-loss or stop-limit orders based on how much risk you want to take.
Enter the details: Tell the exchange your stop price, and for stop-limit orders, the minimum price you want to sell for. Also, tell them how many contracts you want to trade.
Watch your order: Keep an eye on the market. If the stop price is reached, your order will happen automatically.
Stop orders help you trade more safely. Be careful when choosing your stop prices and amounts, and always watch the market.
Take Profit / Take Limit Price orders
These are orders that allow you to lock in profits when the market moves in your favor. A Take Profit order is essentially the opposite of a stop-loss order. You set a target price above your entry point (for long positions) or below your entry point (for short positions), and if the market reaches that price, your position will automatically be closed, securing your profit.
To use Take Profit orders, follow these steps:
Choose the contract: Pick the trading pair you want to trade on the Deperp exchange (e.g., BTC/USD).
Set a target price: Decide the price at which you want to close your position and take your profit.
Enter the details: Tell the DePerp your target price and the amount position you want to close at that price.
Watch your order: Keep an eye on the market. If the target price is reached, your order will happen automatically, and your profit will be locked in.
These are orders designed to reduce your position size without increasing it. A reduce-only order can be a limit order or a stop order, but it will only be executed if the trade reduces the size of your existing position. If the execution of the order would result in increasing your position size, the order will not be executed or will be partially filled to the point where your position size remains unchanged or reduced.
Reduce-only orders are particularly useful for risk management, as they allow traders to secure profits and limit losses without accidentally increasing their exposure to the market.
To use Reduce-only orders, follow these steps:
Choose the order type: Select whether you want to create a limit order, stop-loss order, or stop-limit order with the Reduce-only option.
Enter the details: Set the necessary parameters for the chosen order type, such as the price and the number of contracts you want to trade.
Enable the Reduce-only option: Make sure to check the box or toggle the switch for the Reduce-only option when placing your order.
Watch your order: Monitor the market and your order. If the conditions are met, your order will be executed, but only to the extent that it reduces your position size.
By understanding and utilizing Take Profit and Reduce-only orders, you can manage your risk more effectively and enhance your trading strategy.
Smart Accounts and Gasless Trading
In an industry-first, Taurus introduces native support for account abstraction in partnership with Biconomy. This feature allows the creation of smart accounts, enabling traders to transact without incurring gas fees and bypassing the need for wallet signatures.
- ERC-4337 Compliance: Biconomy Smart Accounts, adhering to this standard, work seamlessly with Paymasters & Bundlers.
- Modular Design: Supports a variety of customizable modules, allowing the addition of new features with minimal development effort.
- Ease of Upgradation: The minimal storage requirement facilitates secure and easy upgrades for new functionalities.
- Secure Delegation: Designed with 'authorized parties' for easy delegation and automation of authorization.
- Customization: Facilitates the customization of smart accounts to enhance user experience.
- Simplified Onboarding & Authorization: Supports biometric and social login options, reducing wallet pop-ups through session keys.
- Transaction Automation: Allows the creation of parameters for automating certain user actions
Powered by: Biconomy Smart Accounts 🔗
Our insurance multi-collateral vaults serve multiple purposes:
- Earning trading fees
- Assisting traders in opening positions
- Regulating market dynamics
Our insurance vaults are designed to benefit in several key ways:
- Earning Potential through Trading Fees: Investors have the opportunity to earn trading fees by providing collateral assets in these vaults.
- Support for Traders' Positions: These vaults enable traders to open positions in their chosen markets, providing essential financial backing.
- Dynamic Profit and Loss Management: When traders incur losses, these are compensated to the insurance vault. Conversely, the vault pays out profits to traders. This system ensures a balanced financial ecosystem.
- Availability of Earned Commissions: Commissions earned by the vault are always accessible for withdrawal, offering liquidity and flexibility to investors.
- Temporary Freezing of Traders' Losses: Losses incurred by traders are held within the contract for a period of 3 days. During this time, profits are distributed to the traders from these funds.
- Withdrawal Option for Insurers: After the 3-day period, if the profits have not been claimed by profitable traders, insurers have the option to withdraw their deposits along with the profit generated from the unclaimed losses.
- Market Regulation Capabilities: Insurance vaults play a crucial role in regulating market dynamics. They set the maximum open interest overall and for each market individually, as well as the maximum percentage of profit. If these limits are reached, the contract has the capability to automatically terminate a trader's position, ensuring payouts are made in line with risk parameters.
DePerp is excited to unveil our newly developed Guardian Mechanism, a feature designed to optimize the trading process and reward participation. Here's how it works:
- Simplified Order Execution: Users can now execute orders with ease. This process involves simply reading the contract and executing the call function. This user-friendly approach is designed to streamline trading activities, making them more accessible and efficient.
- Rewards for MEV Searchers and Arbitrators: A unique aspect of the Guardian Mechanism is its reward system. Searchers and arbitrators—those who actively seek out and execute these calls—will receive an additional 5% from the fees generated by a completed call. This incentive is aimed at encouraging active participation and ensuring the smooth functioning of the market.
- Enhanced Market Efficiency: By enabling users to fill orders through this direct and simplified method, the Guardian Mechanism contributes to the overall efficiency of the trading platform. It not only benefits individual participants but also enhances the trading ecosystem as a whole.
API & TradingView Alerts
Taurus introduces an independent API and self-custody service. This feature allows direct interaction with the DePerp protocol and seamless integration with platforms like TradingView. It's a game-changer for automated trading, leveraging alerts and advanced analytics.
- Receive and execute market orders based on TradingView strategy alerts.
- Place orders using webhooks from third-party services.
- Supports multiple strategies/markets concurrently.
Set up your API service: DePerp Self-Api on GitHub 🔗
DePerp Perp Dex Addresses
Network Name: Dela Deperp Testnet
RPC Endpoint: https://sepolia-dela.deperp.com
Chain ID: 9393
Currency Symbol: ETH
Block Explorer: https://sepolia-delascan.deperp.com
Dela Bridge TestNet
The Dela Rollup Protocol, it's an advanced blockchain system employing Optimistic Rollups, integrated with a parent blockchain like Ethereum for enhanced security and consensus. Key features include Ethereum-based block storage for maintaining data availability and integrity. A specialized sequencer is tasked with managing block production. The system uses an execution engine and a rollup node for deriving L2 blocks from L1 data. It facilitates seamless ETH or token transfers between layers, allowing for efficient transactions. The protocol's security is bolstered by fault proof mechanisms, which play a crucial role in validating state commitments and ensuring overall system reliability.
Blockchain Infrastructure Development: Focus on creating a robust, secure, and high-speed blockchain framework that can support the demanding needs of DeFi and traditional finance (TradFi).
Cross-Border Transactions for Stablecoins: Develop a system that facilitates efficient peer-to-peer and institutional stablecoin transactions across borders, ensuring fast, secure, and compliant transfers.
Institutional Access to DeFi: Implement mechanisms that allow institutional players seamless and secure access to decentralized finance platforms, bridging the gap between traditional finance and DeFi ecosystems.
Enhanced Security Protocols: Implement advanced cryptographic techniques to enhance security, especially for high-value transactions in DeFi and TradFi.
Scalability Solutions: Utilize layer 2 scaling solutions to increase transaction throughput, crucial for handling large volumes in both DeFi and TradFi sectors.
Regulatory Compliance Tools: Develop tools for regulatory compliance, particularly for cross-border transactions involving stablecoins, to ensure adherence to international financial laws and norms.
Institutional-Grade Interfaces: Create user-friendly, secure interfaces tailored for institutional users to facilitate their entry and participation in DeFi.
Interoperability Frameworks: Develop interoperability solutions to enable seamless interaction between different blockchain platforms, enhancing cross-border transactions and institutional access to DeFi.
Powered by: OPStack
DPRP Multi-Dimensional Governance Token Utility Model (DMD)
The DMD model represents a forward-thinking approach in the world of decentralized finance (DeFi). It's designed to enhance the utility, value, and appeal of the DPRP tokens within its ecosystem. This is achieved through a series of innovative mechanisms and features, each tailored to improve user engagement, market responsiveness, and sustainable growth.
Platform Growth Linked Buyback (PGLB)
- Mechanism: A certain percentage of the platform's profits is allocated to buy back DPRP tokens from the market.
- Impact: This reduces the available supply, potentially increasing the token's value.
- User Growth Correlation: The rate of buyback is directly tied to user growth metrics. As the platform attracts more users, more tokens are bought back, creating a scarcity that can drive up the token value.
Decentralized Affiliate Program (DAP)
- System: Users are incentivized to refer new traders by earning DPRP tokens.
- Reward Structure: The unique aspect here is the scaling of rewards. A user's reward increases based on the activity level of their referrals. This encourages users to not just refer new traders but to support them in becoming active, long-term platform participants.
Customizable Governance Portals (CGP)
- Utility: Token holders are not just passive investors but active participants in decision-making processes.
- Voting Rights: They can vote on a variety of issues, from fee structures to new market listings and feature developments.
- Community Engagement: This feature fosters a deeper sense of ownership and involvement among token holders, potentially leading to a more vibrant and engaged community.
Token-Linked Savings Accounts (TLSA)
- Offering: Users can lock in their DPRP tokens to earn a share of trading fees.
- Dynamic Fee Structure: The fees earned are variable and depend on the platform's overall performance.
- Periodic Voting: Token holders can collectively decide to adjust these fees in response to changing market conditions, ensuring a balance between competitive pricing and profitability.
Liquidity Vaults Endowment (LVE)
- Function: A part of the platform's token supply is locked in a liquidity vault.
- Market Support: This vault provides essential liquidity to the market, smoothing out price volatility.
- Profit Sharing: Profits generated from this liquidity provision are distributed back to token holders, offering an additional stream of passive income.
Platform Expansion Grants (PEG)
- Purpose: Allocates tokens for grants to developers for building new tools or features.
- Innovation and Growth: This stimulates innovation and diversification of the platform's services, potentially increasing user engagement and token demand.
Token-Backed Warranties (TBW) for Trades
- Concept: Trade warranties backed by DPRP tokens provide compensation for losses due to system failures.
- Trust Enhancement: This feature aims to increase user confidence in the platform, thereby enhancing the perceived value and reliability of the DPRP token.
Impact and Sustainability
The DMD model is a holistic approach designed to keep the platform competitive and responsive to market changes. By integrating these diverse utilities and incentives, DPRP tokens become a central element of the user experience. This alignment of the token's value with the platform's performance is a strategic move towards encouraging long-term investment and fostering sustainable growth strategies. It's a model that could potentially set a new standard in the DeFi space, demonstrating the power of innovative token utility in driving platform success.
DPRP is DePerp’s governance token, it allows its holders to govern the protocol. By enabling collaborative control, the DePerp community can work together to improve the platform for its traders.
A total of 100,000,000 DPRP have been minted.
The initial 100% allocation of the total supply of DPRP is as follows:
Community & Governance Treasury 75% (75,000,000 DPRP)
Locked in the Community Treasury contract, are used for governance voting to make protocol-related decisions. This empowers the DePerp community to collaboratively control and enhance the protocol. Governance voting manages this treasury, fostering community control over protocol liquidity.
Foundation Treasury 5% (5,000,000 DPRP)
The Foundation Treasury contract holds funds for influencers and consultants, accessible via team voting. This supports the DePerp protocol's development and growth.
Backers Treasury 20% (20,000,000 DPRP)
Allocated to past venture investors & grants for partners, this treasury recognizes their contributions to DePerp's development and growth, bolstering investor relations.
DeCredit stands as an internal loyalty token within the DePerp ecosystem. The concept is simple yet impactful: Earn $DeCredits and exchange them for $DPRP, our platform's native token. This process is designed to be straightforward and user-friendly, allowing our community members to reap the benefits of their participation seamlessly.
Key Aspects of the Contract:
Token Rewards: Eligible users can claim DeCredits. The contract is also capable of processing rewards from ecosystem partners.
Eligibility Criteria: To earn these rewards, ensure you have an open position in the Promo markest, meeting the minimum required size.
Exclusive Claim: To maintain fairness, each user is entitled to a one-time claim of DeCredits.
Incentivization: DeCredits are designed to reward your active participation, enhancing the vibrancy of our community.
Simplicity in Exchange: Convert your earned DeCredits into $DPRP, our native token, in a straightforward process.
Enhanced Utility: Beyond trading, DeCredits offer a pathway to engage in governance and access unique platform features.
The issuance of "DCredits" is set at 0.5% of the total $DPRP token supply. A reward system designed to incentivize and engage the community. $DeCredit price 0.5 per $DPRP.
Network: Base Mainnet (ERC-20)