DerivaDAO (DDX)

DerivaDAO is currently trading at $0.3391, after a price change of 2.24% in the last 24 hours.

Ranked as cryptocurrency #749 by capitalization today, DDX market cap is valued at $8,810,052. DDX trading volume reached $69,303 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on DDX coin price prediction page.

What is DerivaDAO?

DerivaDAO is a decentralized exchange built upon the Ethereum blockchain for derivatives trading. The network supports transactions via its own DerivaDEX operator network. DerivaDAO enables user tap into liquidity of CEX, providing user-friendly interface and the strong security features in decentralized exchanges.

The project’s DAO feature addresses the censorship problems and single point of failure. Deriva DAO combines an order book, off-chain price entries, and on-chain settlements to enhance efficiency. The protocol features an insurance mining interface that manages staked insurance funds. Deriva DAO’s are compliant with an audit by Quantstamp and secure their operations with Ethereum’s proof-of-work algorithm. In the protocol’s layer two sidechain, network security is managed by Raft and checkpoint consensus mechanisms. Code operators validate transactions by sending a hash of the exchange data to the Ethereum network.

DDX is the native token of DerivaDAO. There are 26,094,663.78 circulating tokens from 50,297,306 total supply and a maximum supply of 100,000,000. DDX is a governance token that enables the holders to vote on the key development of the platform. The token also serves staking purposes.

Aditya Palepu and Frederic Fortier are the co-founders at Deriva DAO debuted in 2020.