Delta Exchange Launches $50M Trade Farming Rewards Program

Program backed by Sino Global, Aave Ventures, CoinFund, Kyber Network, Spartan and others

article-image

Delta Exchange co-founders; credit: Delta Exchange

share

key takeaways

  • Delta Exchange has seen high demand in options, particularly on names such as Solana and Binance, company CEO says
  • The platform has surpassed $400 million in daily volumes, and monthly volumes hit an all-time high of $12 billion

Delta Exchange, a digital assets derivatives-based exchange, has launched its trade farming program that gives traders $50 million of rewards.

The platform is backed by a handful of investors including Sino Global, Aave Ventures, CoinFund, Kyber Network and Spartan.

Users who deposit and participate in trading activity for any contracts on the exchange platform will be eligible for rewards, according to the company. Its platform has futures and perpetual swaps available for bitcoin, ethereum and more than 100 other altcoins, as well as spot markets, markets on future-spreads and options for bitcoin, ethereum, solana, cardano, binance, ripple, litecoin and others.

The trade farming program will run from now through 2022 and rewards will be calculated and distributed on a daily basis, according to Delta CEO Pankaj Balani. The daily reward pool is divided amongst traders in proportion to their fee paid.

“We have seen high demand in options, particularly on names such as Solana and Binance,” Balani noted. “We have seen over 20 times growth in options traders in the last six months and expect this trend to continue.”

Delta Exchange’s platform has surpassed $400 million in daily volumes, and monthly volumes hit an all-time high of $12 billion, the company said. 

Derivatives are an imperative part of the cryptocurrency ecosystem and overall industry, Balani said. 

“Institutional players need a liquid derivatives market to hedge themselves against volatility and downside,” Balani said. “Without liquid derivatives, the crypto market will not see sustainable institutional participation.”

The exchange plans to expand its options offerings by adding contracts on more underlying assets along with more strikes and maturities, Balani said.

Tags

Upcoming Events

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

MON - WED, MARCH 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience:  Attend expert-led panel discussions and fireside chats  Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts   Grow your network […]

recent research

Pyth Cover.jpg

Research

Pyth is a low latency pull-based oracle. In a future that looks increasingly high frequency, with various alt L1s and L2s that have significantly shorter block times than Ethereum, and an explosion of “high-frequency” protocols such as oracle or CLOB perp DEXs, Pyth’s low latency oracle product looks much better positioned to capture a significant amount of market share in comparison to competitors.

article-image

Can an ERC-20 token fix science? Coinbase’s Brian Armstrong hopes so

article-image

Roughly $65 billion worth of assets remain on Binance after the exchange agreed to pay, forfeit $4.3 billion Tuesday, Nansen data shows

article-image

The HTX exchange has been hit by a security breach, similar to the recent Poloniex hack

article-image

We have the answers for the usual barrage of questions stuffed with preconceived judgments about Web3, crypto and blockchain

article-image

NFT data will be integrated into CoinGecko APIs in second quarter of 2024, having bought Zash for an undisclosed sum

article-image

Binance and its former CEO have pleaded guilty to federal charges of over $4.3 billion