Derived Development Update

4 min readJan 13, 2022


derived development update

The last two months have been busy for us building the Derived protocol. While our team has been continuously working on background on making sure the smart contracts are foolproof, we have just completed our first iteration of the UI of our protocol. This means we are inching closer towards the integration of smart contracts and going LIVE in the first half of 2022. We are also continuously expanding our team as we start the new year.

Technical Update

Here is a recap of all the technical developments we had in the last couple of months

  • Implementation of ERC1155 token standard for creating prediction markets on real-life events and asset prices.
  • Development of Staking contract and supporting UI/UX where the users can stake DVDx and mint the USDx which they can use to bet on prediction markets/trade assets
  • Enhancing the current MVP on binary options to include more details like payout, long/short skew while creating the options
  • Enhance the UI to support Binary options (Predict on Assets / Predict on Real-life events)
  • Development of contract to control the staking emission curve of the DVDx tokens
  • Development of Minting / Burn / Debt pool / Collateral contracts
  • Development of Inverse derived assets. These assets will serve as a hedge against the debt pool.
  • Preliminary design review for the development of Leveraged minting and hybrid assets.
  • Integration of oracles with the core protocol.

Sneak peek of our core protocol UI:

Let us walk through some of the important components of UI. Remember, we are continuously changing the UI as we speak and there will be definitely an enhanced/optimized UI will be shared to the community on testnet before we go LIVE on mainnet.

The following are the important components as you can see on UI

  • User Dashboard
  • Trade the synthetic assets
  • Staking the Derived tokens and minting the USDx
  • Farming of Derived Tokens
  • Binary options (Prediction market for real-life events/assets)
  • Inverse Assets (To be added in the next iteration)


The Dashboard of our protocol will show the important details on protocol level like TVL, DVDx staked, outstanding debt and so on. It will also show the transaction history of the users.

Dashboard or quick glance


When you click on the trade button, you can use it to swap between synthetic assets / USDx and synthetic assets and so on. Part of the trading fee will go to the protocol stakers.

The no slippage DEX


This is an important aspect of the protocol. Here users can deposit and stake. Mint USDx, withdraw or burn USDx to pay back the debt. The dashboard also will show the user debt, the number of staked tokens and amount of USDx minted. Please note that leveraged minting will be added on top of this.

Staking UI

Binary options

We are going to implement ERC1155 token-based conditional contract which was inspired by Gnosis for our prediction market. This facilitates the reward payout, redemption and everything else makes it easier to use with the help of ERC1155 tokens. We are working on improving the same and with each iteration, you will get the best of the results.

Binary Options 2.0

We have some of the most exciting things to share as we near the completion of our protocol and the next post will be done at the end of January to provide a track of our development.

Until then, stay tuned!!

About Derived Finance

Derived is a Decentralized Multi-Chain Asset Protocol giving users access to trade Stocks, Commodities, Forex, or Crypto on a single platform. Derived offers several unique features such as leveraged minting, hybrid tokens, and binary options.

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