Deri Protocol has secured an investment under the Binance Smart Chain $1 billion growth fund as BSC increases its involvement with decentralized derivatives.
History Repeating
The decentralized derivatives exchange Deri Protocol has won an investment from the Binance Smart Chain $1 billion growth fund. The news follows a similar investment the fund made in the decentralized derivatives exchange MCDEX this October. For that reason, this most recent investment conjures up a strong feeling of deja vu, as Binance Smart Chain investments re-live another Groundhog DEX.
From the perspective of Deri Protocol, the investment presents a huge opportunity for continued sustainable growth.
“With BSC’s support we aim to scale Deri for mass adoption,” stated 0xAlpha, Co-founder and CEO at Deri Protocol in a November 9th press release.
Gwendolyn Regina, Investment Director at Binance Smart Chain, also weighed in on the news.
“The on-chain exchange of risk-exposures makes Deri a vital infrastructure in the upcoming financial revolution,” she said. “BSC’s $1B Growth Fund solely focuses on projects with high utilization and scalability. Deri protocol with its cross-chain derivative features tops the list.”
As BSC News previously noted Binance has had a torrid time with regulators in the derivatives market, facing challenges in South Africa, Australia, Singapore, Japan, Ontario, and the UK among others. The derivative exchanges which Binance Smart Chain is investing in are less easy to regulate thanks to their decentralization.
While the exact sum of the investment wasn’t revealed, BSC News previously reported that awards of up to $1 million can be claimed for individual projects. With Deri Protocol and MCDEX able to capture value in markets that Binance cannot reach there is every reason to suppose that these derivative exchanges may have secured the full amount.
Source : bsc.news
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