Supported by Polygon Ventures, D8X targets institutional users with next-gen DEX engine, innovative features, novel white-label approach
[Zug, Switzerland – Feb. 6, 2024] – D8X, an institutional-grade decentralized exchange (DEX) for derivatives, has launched on Polygon zkEVM, establishing a new benchmark for decentralized finance. With support from Polygon Ventures and other notable partners, D8X reconceives on-chain derivatives, starting from fundamental financial engineering and extending to its novel white-label business-to-business model–a first for Polygon zkEVM.
Until now, users seeking the trading experience offered by D8X have had to resort to Centralized Exchanges or settle for less-efficient, less-flexible and riskier on-chain platforms. D8X’s launch on zkEVM changes that.
Beyond existing DeFi users, the DEX’s powerful new derivatives features aim to attract institutional players who wish to offer decentralized products to their clients without having to develop in-house market making and trading engines.
“D8X offers decentralized derivatives as a white-label product to DeFi and TradFi entities alike. This opens up a bridge allowing legacy finance to leap into Web3—all powered by Polygon zkEVM,” said Polygon Co-Founder Sandeep Nailwal.
D8X Achieves Firsts for DeFi
Leveraging established Traditional Finance derivative pricing theory to underpin the DEX’s automated market making strategy, D8X achieves unprecedented efficiency, variety and risk-conservation. D8X’s on-chain solutions and shared liquidity pool curb costs and offer highly competitive products, such as cost-efficient hedging, a prerequisite for building a highly functional derivative trading space.
“With banks entering the industry, the future calls for DeFi products tailored to banks and degens alike—D8X delivers the answer: an incorruptible financial machine that can be white-labeled,” said D8X Co-Founder Caspar Sauter.
For the first time in DeFi, D8X offers linear, inverse and quanto perpetuals, enabling users to choose their collateral, base and quote currencies to manage their exposure and control their risk.
Diversification From USD Stablecoin Dominance
In a move that empowers users to diversify in the USD stablecoin-dominated DeFi space, D8X is creating a yield-bearing Euro stablecoin pool in partnership with Angle Protocol and Polygon. A EUR/USD perpetual collateralized in stEUR will allow all EUR-based players to hedge their exposure to the USD in a decentralized and secure way—a first in DeFi.
“Angle and D8X are joining forces to bring a groundbreaking innovation to DeFi: a decentralized EUR/USD FX perpetual collateralized in stEUR,” said Angle Protocol Co-Founder Pablo Veyrat.
Traders can also collateralize trades in other assets. In addition to USDC, a liquidity pool in Lido’s staked ETH (stETH) will allow traders to trade with stETH and liquidity providers to earn the Lido yield, while simultaneously participating in the DEX’s earnings.
D8X’s fully decentralized structure follows clear guidance from Switzerland’s financial market regulator FINMA.
D8X’s launch follows a successful $1.5 million pre-seed funding round, with participation from Polygon, Axelar Network, Swissborg Ventures, Cogitent Ventures, Veris Ventures, Pragma Ventures, CryptoDiscover and others.
DeFi users can utilize D8X’s powerful derivatives features on front-ends hosted by partners including d8x.trade, freelyperps.com, omnistrat.trade, decentralized-perps.com and heroX.app, with many more in development.
D8X is a Polygon Ventures-supported institutional-grade perpetual futures DEX with a financial engineering approach that elevates the way perpetual futures can be traded on-chain. Think of a powerful and decentralized trading platform on Polygon zkEVM that offers white-labeling to institutions. D8X’s pricing mechanism adapts to changing market conditions protecting liquidity providers and profitable traders in volatile periods, resulting in superior DeFi trading conditions.
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