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Andre Cronje Shares Info On New DeFi Protocol Deriswap

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Andre Cronje shares more info on the new Defi protocol Deriswap that combines several DeFi services in one single contract as we are reading more in today’s latest crypto news.

Andre Cronje shares info on the Deriswap DeFi protocol that focuses on capital efficiency which is an aspect of DeFi that Cronje has his mind on. He is the creator of the popular Yearn Finance DeFi protocol and the most expensive crypto-YFI. The YFI creator now aims to change the current segmented liquidity that only allows users to choose one of the swaps like Bancor, Sushiswap, or Uniswap, the loans like Aave, DyDX, and Compound, and also the Options like Hegic, Opyn, and Deribit.

He described Deriswap as a protocol that combines multiple services like Options, Swaps, and loans into one efficient single contract. According to the developer, this allows the interaction between these assets which make up the pair. For Swaps, Cronje explained that Deriswap will utilize the standard Uniswap formula.  Suppose Liquidity Providers provide ETH-BTC liquidity, the protocol will be able to let traders swap while using the oracle’s time as the weighted average price.

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He noted that Deriswap uses the Black Scholes option model to quite options. While the Futures are only an extension of Options, Loans are an extension and simplification of Futures. In order to get a loan, the user will pay a premium and collateral to access the borrowed assets. The markets can be tokenized via Non-Fungible tokens to create a secondary market. as with other DeFi protocols, it is expected that Deriswap will have its own token and a limited supply. However, the protocol is still under audit so there’s no official token yet.

Since its success, Andre Cronje became a prominent player in the Defi ecosystem and now the developer is always exploring new products even though some cost quite a bit because of exploits. Despite the failure of the Eminence protocol, Cronje’s last project Keep3r Network and its token KR3R rallied by 2000% with the price moving from $10 to $200 in just a few days.

top trader, bullish, eth, ethereum

As previously reported, DeFi developer Andre Cronje’s new Ethereum-based project has surged by 15,000% in almost 12 hours as he started testing it earlier this month. The project was Keep3r Network which is a decentralized marketplace where projects can post for jobs and users can take them in exchange for a fee paid in the new KPR token.

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Source: https://www.dcforecasts.com/altcoin-news/andre-cronje-shares-info-on-new-defi-protocol-deriswap/

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