Delta Exchange Announces $50M Trade Farming Program
Delta Exchange, a crypto derivatives trading platform, announced a $50 million incentives program for traders today.
The program will last through next year, and users can deposit assets and use certain contracts to take advantage of the farming program.
The stated goal of Delta Exchange is to boost derivatives markets’ participation in the cryptocurrency space.
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Delta Exchange has announced today a $50 million trade farming program with the hopes of incentivizing further participation in derivatives markets.
Incentivizing Derivatives Trading
Delta Exchange, which specializes in digital asset derivatives, has announced the launch of its trade farming program, which is offering $50M worth of rewards to traders. The program began on Dec. 6 and will run through 2022. Traders on the digital asset derivatives exchange can acquire a portion of up to $50 million in total rewards available by depositing assets and being active in Delta Exchange contracts.
Delta Exchange, founded in 2018, offers derivatives such as futures and perpetual swaps for BTC, ETH, and over 100 other altcoins, as well as options contracts available for BTC, ETH, SOL, ADA, BNB, XRP, LTC, and others. It also offers more basic spot trading. It is an exchange meant to offer solutions to both retail and institutional investors for derivatives trading.
Delta Exchange has several major backers that include Aave Ventures, CoinFund, and Sino Global, as well as Kyber Network. The platform is seeing usage climb rapidly, with a tenfold increase in trading volume and a twentyfold increase in active users over the past six months. It currently boasts over $400 million in daily volume and $12 billion in monthly volume, which represent all-time highs.
The stated goal of Delta Exchange, as well as these trade farming rewards, is to boost derivatives markets’ participation in the cryptocurrency space. CEO Pankaj Balani said:
“Derivatives are an imperative part of the cryptocurrency ecosystem and the overall industry. We believe our rewards program will be the catalyst for even more traction and the onboarding of new users within the space.”
The $DETO exchange token, an ERC-20 utility and rewards token, allows users to participate in several features, including trade and yield farming, and to take advantage of robo-trading strategies.
Disclosure: At the time of writing, the author of this piece held BTC, ETH, and several other cryptocurrencies.
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