Deri Protocol

Overview

Deri Protocol is a decentralized protocol for users to trade derivatives on the blockchain. It enables users to trade perpetual futures with leverage, and includes options trading functionalities.

Purpose and Utility

The DERI token is primarily used for governance within the Deri Protocol ecosystem and as a utility token for paying trading fees. Token holders can participate in protocol governance decisions and receive trading fee discounts.

Business Model Evaluation

The protocol's core business model revolves around derivatives trading, specifically perpetual futures contracts and options. The platform generates revenue through trading fees.

Platform Development and Adoption

The protocol maintains active development on GitHub and has deployed on multiple blockchain networks including Ethereum, BNB Chain, and Arbitrum. The platform has processed significant trading volume, indicating actual usage of the protocol.

Key Concerns

The primary concern from an Islamic finance perspective is that the protocol's main utility centers around leveraged derivatives trading and speculative financial instruments that operate as zero-sum games without underlying asset exchange.