Huobi Ventures Weekly Insights
Insight provided by Alex Dong of Huobi Ventures
Decentralized Derivatives: The Next Wave of DeFi’s world
In the new round of DeFi market growth, decentralized derivatives have become a hot track. Data shows that on August 27th, dYdX’s 24-hour trading volume surpassed Coinbase for the first time. According to CoinGecko data, as of the date of publication, dYdX’s 24-hour trading volume was $4.56 billion, and Coinbase’s 24-hour trading volume was US$3.78 billion.
At present, there is still a big gap in the volume of on-chain derivatives agreements compared with CEX derivatives. According to data from Coingecko, the daily trading volume of Binance derivatives exceeds USD 83 billion, OKEx exceeds USD 23 billion, and FTX exceeds USD 12 billion. This means that not only DEX spot trading volume occupies a small proportion compared with CEX, derivatives markets are also dominated by CEX.
However, as major countries such as China, the United Kingdom, and the United States have increasingly strict regulations on crypto asset derivatives trading, CEX has been subject to greater restrictions in its derivatives trading business and faces potential risks. Since the beginning of this year, more and more centralized exchanges have announced their suspension of operations in certain countries. Trading platforms such as Coinbase have also suspended their futures trading business.
The expansion of the regulation brings an unprecedented opportunity for the on-chain derivatives protocols. With the further development of blockchain performance and DeFi ecology, the possibility of users migrating to decentralized derivatives trading on a large scale increases. For example, Starkware and StarkEx provides a safe solution for decentralized derivatives trading, which could complete customer transactions off-chain and transmit the transaction results to the chain. Considering the fact that derivatives now have 20x times over spot in the global financial market, as the layer2 solution grows and matures, we could expect the prosperity of decentralized derivatives in the near future.
Huobi Ventures Latest Update
Huobi Ventures and Republic Team Up on Cross-Border Crypto Accelerator.
Huobi Ventures has partnered with financial services company Republic to launch a cross-border crypto accelerator to give startups exposure to global investors and equity.
The companies say the accelerator will be a full-stack solution for launching digital assets, combining the advisory services and early stage incubation of Republic’s Crypto business with the strategic capital of Huobi Ventures, including liquidity support and centralized exchange relations strategy. Huobi told CoinDesk the company has committed $30 million to the accelerator.
Portfolios Weekly Status
Wormhole has created NFT bridge allowing users to send NFTs cross-chain between S olana, Ethereum and BSC. The NFT is now listed on SolSea. Details
Animoca Brands partnered with MADworld. Details
Antimatter perpetual options launched. Details
CoFiX v3.0 new plan. Details
· Working with Chinese blockchain Conflux, McDonald’s China launches first NFT to commemorate 31 years in mainland market. Details
· The Conflux Ecosystem Grants Program offers up to $100,000 USD per project in funding to community to build on Conflux Network. Details
Cyclos is hiring for a full stack developer. Details
$FINA token is live on PancakeSwap. Details
Dexguru achieved $400M in trading volume. Details
dForce and Uprets partner to Onboard Real-World Assets backed Loans. Details
Announce the $DIVER pre-staking initiative. Details
$HCT listed on MEXC/ZB/MDEX/Gate.io/BitMart. Details
· Tranchess has been partners with InsurAce. Details
· InsurAce is now on the List of supported platforms on DeBank. Details
· Pangolin partners with InsurAce to bring decentralized insurance to Avalanche. Details
Linear DAO Forum & LC Nominations are live. Details
The liquidity of Mercurial is aggregated on Jumpiter. Details
Multiverse on board Brandon(formerly at Samsung) to grow their team in Korea. Details
Pacific x Parasset reached cooperation to open Phase 4 INO. Details
Check out the 5 powerful pillars standing tall in SEED’s very ecosystem. Details
SubDAO will participate in Polkadot’s first round of parachain auctions and will officially launch the parachain network-Starfish. Details
· NAOS integrates with Coin98 Wallet. Details
· NAOS listed on BitMart. Details
About Huobi Ventures
Led by Huobi CFO Lily Zhang, Huobi Ventures is a wholly-owned subsidiary of Huobi Group focusing on Huobi global investment. Composed of four divisions — strategic M&A, strategic investment, asset management and global cooperation, Huobi Ventures has already launched three funds targeting typical fields: Blockchain, HECO and NFT. We aim to empower further growth of Huobi Global, and create a global community with our partners for mutual benefits.