Derived Set to Launch IDO to Kick Off Leveraged Staking

Decentralized multichain synthetic assets platform, Derived, is launching a double initial DEX offering (IDO) this Wednesday. The native token, DVD is set to launch on Poolz and OccamRazer decentralized launchpad this Wednesday. 

Announced Thursday, Derived, a multi-chain synthetics assets trading platform, will carry out its initial decentralized exchange (DEX) offering, or IDO, of its native token, DVD. The platform aims to enhance leveraging of multiple assets in both the traditional and digital finance market across multiple blockchains, including Ethereum, Avalanche, and Binance Smart Chain. During the pre-IDO sale, Derived welcomed several investors to take part in the sale, including AU21 Capital and Nabais Capital. 

As an active participant in guiding projects through launchpads and presales, California-based AU21 Capital aims to bring strategic value to Derived founders and the community through the planned IDO launch. The fund has participated in several IDO launches in the past, including The Graph, Polkadot, Casper Labs, Covalent, Cere, Elrond, and more. Other early investments include Binance, Huobi, OKEx, and

European-based crypto VC, Nabais Capital, also formed a strategic alliance with Derived aiming to disrupt synthetic assets leveraged trading in digital finance. Headquartered in Lisbon, Nabais Capital will support and build Derived into a billion-dollar project, helping its portfolio projects grow and go to market. 

The native DVD token will enable users to leverage their staking and minting positions once launched. Additionally, users staking DVD will earn a passive income from the platform’s trading fee and can also take part in the governance of the platform.

Users will be able to stake DVD tokens in order to mint the xUSD, also known as Synthetic stable coins. This xUSD token will be the sole stable coin that can be used to access all of the platform’s features. The network is able to run and maintain liquidity thanks to the staking of DVD tokens and the minting of xUSD. By staking DVD tokens and minting xUSD, users will be able to earn the staking rewards directly in their wallets.

Once minted, users can trade the xUSD and access various features and assets on the platform, including the Synthetic DEX, lending and borrowing, trade hybrid assets and binary options, etc. Users are charged a 0.3% fee for each transaction which is then distributed to users staking DVD hence incentivizing the platform users even when staking rewards stop.

Finally, Derived is a completely decentralized platform and will allow DVD holders and the community to have a say in the running of the platform. The holders of the DVD tokens will be able to participate in the governance and vote on proposals on the platform. Holders of DVD tokens would vote on governance, so the more DVD tokens a person has, the more power they will have over voting.

About Derived

Cardano-based Derived is the first-of-its-kind decentralized multichain synthetic assets trading platform that leverages interoperability qualities of Polkadot to provide cross-chain services on multiple blockchains including Ethereum, Polkadot, Cardano, Avalanche, and Binance Smart Chain, etc. 

Users of the Derived platform can benefit from leveraged minting (up to 3x). It will also be the first platform to provide its user’s unique features such as the ability to build Hybrid Tokens and access to binary options, numerous native currency support, 0% Slippage, and infinite liquidity, among other things.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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