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Delta Exchange, a crypto derivatives exchange, has raised $5 million from industry-leading investors in a private sale for Delta Exchange Token (DETO), the platform’s native token. Participating investors include Sino Global, Aave Ventures, CoinFund, Kyber Network, Spartan, QCP Soteria, LuneX Ventures, gumi Cryptos Capital, BR Capital etc.
Delta Exchange is pioneering the sphere of stablecoin-settled contracts and supplying one of the largest markets for Altcoin Futures. It offers Perpetual Swaps, Futures, and Options on Bitcoin and over 60 altcoins with up to 100x leverage. The exchange also offers advanced derivatives products such as interest rate swaps and calendar spreads on Bitcoin and is the first to launch a marketplace for retail traders to discover and subscribe to battle-tested algo trading strategies. The combination of these robust features promotes accessibility among traders allowing them to participate in fast-paced crypto markets without complexities.
DETO is an ERC-20 utility and rewards token that powers trading on the Delta Exchange platform. It utilizes liquidity mining via market-making pools, the first liquidity pools developed by a derivatives exchange, which resemble those of existing DeFi AMM pools with key differences. Delta’s liquidity pools have a fixed capacity and will not absorb capital beyond a certain threshold.
“The completion of DETO’s private sale builds on to the great year Delta is having. We have seen an increase in revenues, trading volumes, customer acquisition and have added a number of new products and features to the platform. We look forward to an exponential growth in the coming months,” said Pankaj Balani, CEO of Delta Exchange. “DETO is integrated across the value chain of the exchange. It will help boost liquidity via liquidity mining, it will help increase volumes via attractive cashback and it will help build customer loyalty as DETO can be used to pay trading fees, at higher of market price or MSP (minimum support price). These features will boost the platform’s growth which will in turn boost DETO.”
Investments into decentralized finance startups have become more widespread, with Spartan Capital recently leading a funding round for Alchemix, and Aave’s founder joining Variant Fund as a venture partner. The investment into Delta Exchange is important because it is the first-of-its-kind derivatives exchange that is integrating DeFi practices such as the first liquidity pools for crypto derivatives, launching in tandem with this round.
“The Delta team has experience in creating compelling financial products for both institutions and retails, including being the first centralized exchange to offer crypto interest rate swaps and the first to list many perpetual swap products,” said Kelvin Koh, CIO at Spartan. “We’re excited for Delta’s unique positioning in India, an increasingly important market in crypto, and are thrilled to support the team.”