Derived, a decentralized multi-chain synthetics trading platform, has announced the details of its Initial Dex Offering (IDO) on the OccamRazer Launchpad, starting on October 13. According to a previous medium post announcement, this IDO will mark a significant milestone for Derived, with the project pioneering the first multi-chain synthetics trading platform.
The OccamRazer launchpad is part of Occam. fi’s suite of DeFi solutions focusing on the Cardano ecosystem. This launchpad is designed to provide DeFi projects like Derived with launchpad capabilities, enabling interested crypto stakeholders to participate through a decentralized funding architecture.
While Derived will launch its IDO on OccamRazor, it is noteworthy that this multi-chain synthetics trading platform supports other blockchain networks, including Ethereum, Polkadot, and Binance Smart Chain (BSC).
Elliot Hill, Head of Communications at Occam.fi noted that,
“Derived are working to deliver fully-featured access to a whole host of assets across multiple blockchains, including Ethereum, Polkadot, Binance Smart Chain, and of course Cardano. At Occam.fi, we’re delighted to leverage our experience of the Cardano ecosystem to catapult Derived to success, in parallel with the growth of the DeFi ecosystem on Cardano.”
Derived IDO on OccamRazor
The Derived IDO will follow Occam. fi’s recently announced final tier structure, which means that interested investors will have to undergo a registration process. According to a publication by Occam.fi, prospective IDO investors have to stake the platform’s native token OCC to make the cut for the IDO registration.
There are five tiers that dictate how much an investor can allocate to a specific IDO. The first tier, also dubbed Everest, requires investors to stake 10,000 OCC while capping the max funding allocation at $3,000. Meanwhile, the second tier requires a minimum staking of 4,000 OCC, with the max allocation capped at $1,400.
Tier 3, which is named after Mt Fuji, has a minimum requirement of 1,000 OCC while the funding allocation is limited to $1,125. As for the fourth tier, prospects can stake 500 OCC and allocate up to $650 towards the Derived IDO. Last but not least, tier 5 requires a minimum staking of 150 OCC, allowing investors to allocate up to $375.
With Derived set to deploy its smart contract soon, the project will also be featuring another IDO on Poolz, a decentralized cross-chain IDO platform whose goal is to assist crypto projects to raise funds before token listing.
A Next Gen Synthetics Trading Platform
The Derived trading ecosystem will feature synthetic assets, allowing users to trade financial instruments such as stocks, commodities, forex and crypto within a one platform. At the core, this project leverages smart contracts to bridge the gap between traditional markets and crypto.
Some of Derive’s native features include leveraged minting, hybrid assets, binary options, native currencies, global platform and unlimited liquidity. The platform will also support multiple chains, including Polkadot, Avalanche, Cardano, Binance Smart Chain and Ethereum.