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DerivaDEX, a decentralized derivatives trading protocol, will launch an insurance mining plan and announce the token model

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The total amount of DDX tokens is 100 million

BlockBeats News, December 2, Decentralized Derivatives Trading Protocol DerivaDEX announced that it will launch an insurance mining plan in the near future, and participating users can get DDX in return.

DerivaDEX Initially capitalizes the insurance fund through a one-year community equity program that distributes the token DDX to participants. The native DerivaDEX token (DDX) allows users to participate in the management and operation of the exchange. Users can jointly start the DDX insurance fund by staking in the insurance mining fund, and at the same time obtain DDX tokens through staking. Supported collaterals include USDT, cUSDT, aUSDT, USDC, cUSDC, aUSDC, HUSD and GUSD. At the start of insurance mining, DDX tokens are not tradable and transferable until the tokens are unlocked through governance.

DerivaDEX Token model overview:

The total amount of DDX tokens is 100 million: 50% are allocated to the team, early investors, and partners; % Provided for Yield Mining: 2.5% allocated for Insurance Mining and the rest over 10 years.

According to Rhythm’s previous report, DerivaDEX Trading platform raises $2.7M in two funding rounds, Polychain Capital, Dragonfly Capital Partners, Electric Capital, Coinbase Ventures, CMS Holdings, Three Arrows Capital, Calvin Liu (Compound's Strategy Director) and Phil Daian (cryptocurrency researcher).