Introducing dTrade and the special features of the project

• Overview of the dTrade . project
• What is the dTrade project?
• Highlights of the dTrade . project
• Products of dTrade
• Roadmap of the dTrade . project
• dTrade developers, investors and partners
• Overview of dTrade tokens
• Potential of dTrade . project
• summary

Overview of the dTrade . project 

What is the dTrade project?

dTrade is a decentralized derivatives exchange (DEX) with the fastest transaction speed on the DeFi platform, as measured by settlement times and the highest amount of TPS (Transaction-Per-Second). At the same time, this exchange is secured by the main chain Kusama and AnyTrust. 

While dTrade is a decentralized derivatives exchange on Kusama, Firefly is a similar platform implemented on Polkadot. Firefly is designed to increase transaction speed, scalability, and transparency. These two platforms exist with a common vision to bring open finance to millions of users, by combining the best of CeFi with the advantages of DeFi. CeFi's low latency, liquidity, and low costs combined with DeFi's transparency, aggregability, and openness make dTrade and Firefly compelling alternatives to exchanges. concentrate.

However, on November 3, 2021, the dTrade development team decided to stop this project and completely focus on developing Firefly on the PolkaDot ecosystem. Below are reference information about the dTrade project that has been oriented to develop on Kusama.

Community-led dTrade with technical capabilities comparable to Firefly. However, dTrade will have a faster development cycle than Firefly. Specifically, token mining programs will be accelerated. In addition, time-management parameters allow for faster upgrades. Furthermore, dTrade's goal is to test and validate new features and add-ons by actual testing.

Run by a decentralized autonomous mechanism (DAO) , dTrade aims to capture a piece of the billion-dollar DeFi market. In addition, the economic model behind the dTrade platform's DTX token has been carefully designed to provide sustainable rewards for traders, while also launching a decentralized governance ecosystem for traders. related parties of dTrade. The DTX tokens will be directly transferred back to the traders to facilitate the process of decentralized management on the exchange.

Highlights of the dTrade . project

• Thanks to high-throughput transactions with low latency, micro-gas fees, and interoperability between networks, dTrade will provide traders with a derivative DEX that is both efficient and secure.
• dTrade also offers one of the most efficient user experiences in the DeFi market with processing times under 450 milliseconds.
• dTrade will be the first decentralized derivatives exchange (DEX) on the Polkadot network, supporting staking of derivatives of the linked DOT token or staked as collateral. Initially, USDT will be the only collateral supported. Additional assets will be added through the protocol's decentralized governance.

• In order to encourage new traders and users to join dTrade and the Polkadot ecosystem, the development team makes it easy to lower the barriers to entry. MoonRiver's compatibility with Metamask will make it easier for a large number of existing users of these utilities to access dTrade.
• dTrade will support staking derivatives USDT and DOT tokens as collateral for open positions. Derivative staking modules will help the Polkadot community unlock liquidity from staked DOT tokens. The staked amount can then be used as collateral for trading on dTrade. This opens the door for DOT token investors to be able to hedge or speculate on the price of crypto assets while still earning Polkadot staking rewards or crowdloan rewards.
• dTrade uses aggregations for near-instant transaction settlement on the exchange, thereby providing an optimal user experience with instantly updated balances, efficient liquidity, payment penalties lower management and higher leverage. 
• The on-chain fund of the dTrade DAO will cover gas fees for users. If the DAO does not fund the fee in perpetuity, dTrade will work with Moonbeam to enable payment of gas fees in USDT. 
• With the implementation on Moonbeam, dTrade not only has access to the Polkadot main chain and parachain assets through XCMP, but also access to Moonbeam's native ecosystem assets. Finally, any asset on Moonbeam is backed as collateral on dTrade, allowing for the creation of more complex derivatives and new financial experiments. 
• In terms of security testing, the project regularly tests and re-evaluates its products for vulnerabilities in the code and business logic. The development team partnered with PeckShield and Halborn to test the contracts as well as the ability to penetrate the entire system. They have also partnered and scheduled a test with Trail of Bits starting December 2021, which includes all existing contracts, as well as some new features and contracts added. The project has also outlined a roadmap for the launch of TestNet and the Bug Bounty Program to optimize community input and transparency. Upon completion of Trail of Bits testing, the code will be made open source and the Bug Bounty Program will begin to be deployed. 

Products of dTrade

Currently, dTrade is launching a trial version, so there are not too many derivative products launched. However, there are still a few points to note about dTrade.

dTrade has 2 ways of working:

Statistical

Market makers (MMs) are market participants who place buy and sell orders for a number of tradable assets. MM provides several essential services to the market, allowing traders to smoothly open and exit positions at a reasonable price. In turn, MMs capture the spread or bid spread from traders' activity. 

To understand how it works, imagine an XYZ/USD market where the fair price for asset XYZ is $100. Let's say MM sets the latest bid (buy order) at $99 per XYZ and the last sell price (sell order) at $101 per XYZ. If both orders are executed by other market participants then after ignoring fees, MM will make a profit of 2 USD per unit of XYZ.

Accident insurance

The second way to make a market is to copy the price from another exchange with a higher spread. Example: When bid price for XYZ on Binance is 99 USD and ask price is 101 USD, MMs will quote bid price of 98.5 USD and offer XYZ for 101.5 USD on dTrade. Whenever someone bids 98.5 USD on dTrade, MMs will immediately sell on Binance for 99 USD. 

Likewise, whenever an investor raises an offer of $101.5 on dTrade, MMs will buy XYZ for $101 on Binance. Assuming a $0.50 spread including trading fees on two exchanges, MMs pocket a risk-free profit and stay neutral to market movements thanks to the balanced spread.

Insurance fund

In addition, dTrade has an insurance fund that provides a capital reserve to keep the exchange stable and fair. The insurance fund capitalization is an expense that is shared among all traders in a debt settlement situation. In turn, traders have the peace of mind knowing that they will always get the returns they deserve. 

On dTrade, payments will be made in stablecoin USDT. The insurance fund is a tool to protect traders and is not owned by anyone. In the event of a risk when the insurance fund runs out, automatic write-off of the insurance debt is the last resort to protect traders.

Details of Insurance Funds: Basics of Insurance Funds. This article will review the loss… | by dTrade | dTrade | Medium

Roadmap of the dTrade . project

Information is being updated.

dTrade developers, investors and partners

Development team

Following the precedent set by Kusama and Polkadot, dTrade is implemented by the Firefly team. dTrade Exchange will launch on Moonriver and be secured by the Kusama mainchain, while Firefly will be available on Moonbeam and connected to the Polkadot mainchain. The canary rollout creates an environment for bold experimentation, where new products and features are introduced and new frontiers are opened. 

Here is the Firefly development team that has been building dTrade Exchange:

Investors

The project has raised 22.8 million USD for MM fund with the participation of many large investment organizations in the market such as Hypersphere, Polychain, DeFiance, Alameda, CMS, Divergence, MGNR, Altonomy… Committed capital dedicate an on-chain loan to MMs who will provide liquidity to order books on dTrade. Community members and interested parties can also participate in this online program after the launch of dTrade, which is expected to take place after the Kusama Parachain auctions.

Partner

Information is being updated.

Overview of dTrade tokens

Currently the project has not launched the token yet.

Potential of dTrade . project

dTrade, a decentralized exchange with high performance, low fees and going live with deep liquidity backed by some of the biggest market makers (MM) in the Crypto market. It is also the first derivatives exchange on Polkadot, namely Kusama. With the goal of pushing the limits of DeFi by making DeFi faster, less expensive, more accessible to evolving technology than ever before. The platform aims to attract millions of users to open finance in the next 5 years and empower all Internet users with easy access to the DeFi marketplace. 

summary

dTrade is a decentralized exchange powered by Substrate and Rollups, designed to function as a completely decentralized public utility, and owned and controlled by a community of investors. project tokens. This was once a potential project that promised much success in the future, however, after analyzing the feedback from the community and operating costs, the development team decided to stop developing the project and switch to focus on the Firefly project on Polkadot.

For more information about the dTrade project, visit the following communication channels:

Website | Twitter | Telegram | Discord | Medium

• Derivatives exchange dTrade raised $6.4 million