Alameda Research and Multicoin Capital Invests into Fully Decentralized Orderbook-Based Derivatives Exchange on Solana
- Written by Newsfile
01 Exchange is Launching this Month as the First Derivatives Exchange to Support Orderbook-based Perpetual Futures and Powers on Solana
Panama City, Panama--(Newsfile Corp. - February 5, 2022) - 01 Exchange[1], a DeFi Alliance supported protocol, is set to launch the first fully-decentralized derivatives exchange to support orderbook-based perpetual futures and power perpetuals on Solana on January 27th.
01 Exchange
To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/8203/112487_18fda89004ecc9d4_001full.jpg[2]
01 Exchange is a full-suite derivatives exchange, offering everything a centralized exchange offers, and more, but through a fully decentralized protocol. The exchange features an on-chain limit orderbook through deep integration with Project Serum[3], cross-collateralization, cross-margining, and yield-earning deposits, all without compromising on decentralization.
01 recently raised $2.2M in a seed round co-led by billion-dollar trading firm Alameda Research, and early Solana investor, Multicoin Capital. 01 is also backed by Solana Ventures, Ledger Prime, Pattern Research, Finlink Capital, Inscribed Ventures, Smile Asia, and Dropout Syndicate. Angel investors also include Chris McCann and Edith Yeung, general partners at Race Capital and early seed investor in FTX and Solana, Alfred Cheung, also general partner at Race Capital and co-founder of BEA Systems, and Lily Liu, co-founder of Earn.com and advisor to the Solana Foundation.
"The next dFTX will take everything a CEX offers, and plug it into fully decentralized infrastructure. For that reason, we're very excited to partner with 01 Exchange and help them build the most powerful, liquid, and feature rich derivatives DEX for traders," said Kyle Samani, Managing Partner, Multicoin Capital.
"The goal has always been to take the best of centralized exchanges, and fully decentralize them. That's why we're incredibly excited to offer a true limit orderbook experience with zero compromise on decentralization, with full-suite cross-collateralization and cross-margining," said Ryu, co-founder, 01 Exchange. "01 was built with scalability in mind. That's why we'll be able to support multiple collaterals and multiple different derivative markets."
Traders will be able to trade perpetual futures up to 20x leverage and, for the first time on an orderbook, power perpetuals, an entirely new asset class, first introduced by Dave White and Dan Robinson, from Paradigm.
Power perpetuals are perpetual futures indexed to the power of the underlying. This pricing function provides traders with global option-like exposure without the need to select strikes, or expiries. The unique properties of this instrument allow for impermanent loss hedging in liquidity pools, and new vault strategies for yield generation.
"Power perpetuals are going to disrupt the derivatives industry, and we can't see it better implemented than on a fully decentralized orderbook model like 01 Exchange's," said Brian Lee, Partner, Alameda Research.
01 will also act as a lending borrowing platform, where borrowers can take out loans from 01's deep liquidity pool, which generates passive APY for traders and depositors.
01 plans to launch on Mainnet January 27th.
To learn more about 01 Exchange, please visit:
01 Exchange Website: https://01protocol.com[4]
01 Exchange Twitter: https://twitter.com/01_exchange[5]
About 01 Exchange
01 Exchange is a fully decentralized orderbook-based derivatives exchange on Solana, supporting perpetual futures and power perpetuals. It features an on-chain limit orderbook through a deep integration with Project Serum, cross-collateralization (i.e. the ability to collateralize multiple positions using different tokens), powerful cross-margining (i.e. sharing leverage across all positions under a single account), and yield-earning deposits, all without sacrificing on decentralization. To learn more about 01 Exchange, please visit https://01.xyz/[6].
About Alameda Research
Alameda Research was founded in October 2017. We manage over $1 billion in digital assets and trade $1-10 billion per day across thousands of products: all major coins and altcoins, as well as their derivatives. We have a full-scale global operation with the ability to trade on all major exchanges and markets.
About Multicoin Capital
Multicoin Capital is a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies. Crypto networks and companies will create trillions of dollars of value over the next decade. But investing in tokens is fundamentally different than investing in companies. New tools, heuristics, and security measures are needed to responsibly invest in this ecosystem. We leverage our deep understanding of blockchain technology and crypto markets to deliver exceptional returns. For more information, visit: https://multicoin.capital[7].
To learn more about 01 Exchange you can visit their website: https://01protocol.com[8]
Media Contact:Company name: 01 ExchangeContact name: StratosCompany address: Via Espana, Delta Bank Building, 6th Floor, Suite 604D, Panama CityWebsite URL: https://01protocol.comPhone: 510-542-1542[9]
SOURCE: 01 Exchange
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112487[10]
References
- ^ 01 Exchange (www.newsfilecorp.com)
- ^ https://orders.newsfilecorp.com/files/8203/112487_18fda89004ecc9d4_001full.jpg (orders.newsfilecorp.com)
- ^ Project Serum (www.newsfilecorp.com)
- ^ https://01protocol.com (www.newsfilecorp.com)
- ^ https://twitter.com/01_exchange (www.newsfilecorp.com)
- ^ https://01.xyz/ (www.newsfilecorp.com)
- ^ https://multicoin.capital (www.newsfilecorp.com)
- ^ https://01protocol.com (www.newsfilecorp.com)
- ^ https://01protocol.com (www.newsfilecorp.com)
- ^ https://www.newsfilecorp.com/release/112487 (www.newsfilecorp.com)