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D8X Launches on Polygon zkEVM, Targets Institutional Grade Investors

D8X, a decentralized exchange (DEX) specializing in derivatives, has been unveiled on Polygon’s zkEVM with the aim of delivering a top-tier platform tailored for institutional investors in the realm of decentralized finance (DeFi).

In a recent press statement, the firm revealed its debut on Polygon’s zkEVM, outlining strategies, utilization scenarios for institutional clientele, on-chain resolutions, and the integration of multiple stablecoins as part of its initiative to introduce alternatives to USD-centric assets.

As per the announcement, the platform is backed by Polygon Ventures, aiming to revolutionize user engagement with decentralized exchanges by enabling institutional investors to seamlessly trade perpetual futures using on-chain resources.

The platform harnesses various interoperable functionalities, including white-label collaborations that will enable companies to connect their traders to D8X and garner commissions through the revenue-sharing mechanism.

Traders are also provided with classical perpetuals, featuring no rollover or borrowing fees, applicable across a diverse array of assets.

In the automated market maker (AMM) options, liquidity providers can earn fees, benefiting from a risk management framework akin to those employed in enterprise-wide risk management and clearing houses.

“Liquidity provision, liquidations, and order execution are decentralized. With our white-label model and robust on-chain governance, institutional professionalism and decentralization are seamlessly integrated.”

By leveraging traditional financial derivative pricing theory, D8X mitigates risks and expenses while optimizing efficiency.

D8X Aims for Steady Growth

Casper Sauter, the co-founder of D8X, highlighted the evolution of DeFi, noting the entry of banks and other financial institutions into the space, positioning the platform as the solution for providing an incorruptible financial infrastructure.

“For the first time in DeFi, D8X offers linear, inverses, and quantity perpetuals, allowing users to select their collateral, base, and quote currencies to manage exposure and mitigate risks,” the statement elaborated.

Sauter informed CryptoNews that the company anticipates approximately 5,000 trades per month during the zkEVM phase in February and March.

In Q2 2024, D8X anticipates doubling its size compared to the first quarter, following the activation of the zkEVM and the launch of the X1 mainnet.

Diverse stablecoin offering

D8X is strategizing to diversify away from the dominance of USD stablecoins by introducing a EURO stablecoin pool. This initiative aims to provide investors with yield-bearing opportunities in collaboration with Polygon and Angle Protocol.

The introduction of a EURO stablecoin pool will enable EUR-based users to hedge their exposure to the dollar. Pablo Veyrat, the co-founder of Angle Protocol, emphasized that both companies are pioneering a groundbreaking innovation in DeFi with the introduction of EUR/USD FX perpetuals collateralized in stEUR.

“Traders will also have the option to collateralize trades using other assets. Alongside USDC, a liquidity pool featuring Lido’s staked ETH (stETH) will permit traders to transact with stETH and enable liquidity providers to earn the Lido yield while concurrently participating in the DEX’s revenue stream.”

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