Deribit plans to expand its offerings with Spot Trading at zero fees
Deribit has announced plans to expand its offerings by introducing Spot Trading at zero fees starting April 24, 2023, at 1 pm UTC. There will be no fee on the taker and maker, allowing users to seamlessly buy and sell their assets while managing risk via derivatives.
The three pairs that are scheduled to go live under Spot Trading are:
Zero-Fee Spot Trading gives clients a simple solution at no additional cost for exchanging collateral. It further mitigates the requirement of seeking asset conversion from external sources. The zero-fee structure is aligned to further the mission of fostering a liquid market and minimizing the hurdles for takers.
However, there is a slight disadvantage that a section of the Deribit community has come across. The zero-fee structure comes with a string attached to it, removing volume discounts and sharing offered to affiliates & partners.
Despite that, the model is expected to thrive, for it widens the range of offerings that traders can look up to on the crypto options exchange platform. Bitcoin, Ethereum, and USDC remain the three basic currencies at Deribit to support the existing offerings, namely options, futures, and inverse & linear perpetual. The basic currencies empower investors to not only manage the risk but also hedge their investments.
Luuk Strijers from Deribit has stated that the company decided to launch Spot Trading after leading the market of crypto derivatives trading. Moreover, the level of security and transparency had an equal role to play when Deribit took a call to proceed with zero-fee Spot Trading. The Chief Commercial Officer of Deribit has added that the platform is now able to provide a complete experience in the offering of an exchange service, catering to every type of trader.
Deribit launching Zero-Fee Spot Trading service comes days after the launch of BTC-DVOL futures. It is basically a contract that has been constructed on top of DVOL, short for the Deribit Bitcoin Valley Index. DVOL is majorly tasked with facilitating Bitcoin volatility trading. The announcement for DVOL was made on March 17, 2023. The same is now live effective March 27, 2023, exclusive on the platform.
As for the recent happenings at Deribit, the venture has experienced an increase in the activity of investors to bring over $20 billion to the platform as of March 30, 2023. The open interest, per the official announcement, is at an all-time high in Deribit.
Deribit deals in options and futures as a centralized and institutional-grade crypto derivatives exchange. Deribit is based in Panama City with a state-of-the-art infrastructure that excels in offering price discovery. Deribit is highly regarded for its unique set of features that includes low latency trading, risk mitigation service, and deep liquidity.
The feature of deep liquidity, specifically, is backed by top-tier market makers. Deribit is led by a team comprising members who have experience in options trading. What keeps the venture holding high standards in the industry is its robust proof of assets & liabilities procedures.