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01 What is DerivaDEX?
02 What is the DDX economic model?
50 million DDX genesis supply distribution and release
68% of the Genesis supply 34,020,405 DDX was allocated to the DerivaDEX team as well as the DAO Foundation.
31% of the Genesis supply 15,719,595 DDX is allocated to investors with a linear unlock of 1 year.
The 260,000 DDX in the Genesis supply is allocated to advisors on a 2-year linear unlock.
50 million DDX liquidity mining supply distribution and release
As part of the insurance mining program, 2,500,000 DDX in the liquidity mining pool will be released linearly over 1 year (1.189117199391172 DDX per block, totaling 2,102,400 blocks).
47,500,000 DDX will be minted through a liquidity mining program including transaction mining over 10 years.
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03 How to unlock the allocated DDX?
Investors will receive 8.33% immediately on December 24 according to the 1-year linear unlock schedule, and then receive 8.33% every month until the full amount is obtained.
Advisors receive 4.17% of their total quota immediately on December 24th, followed by an additional 4.17% each month, on a 2-year linear unlock schedule until the full quota is earned.
The team's DDX distribution unlock cycle is 3 to 4 years;
The foundation's DDX distribution will be used for ecological incentives, etc., and distributed through community governance.
04 How to mine the insurance fund?
Length of time: 2,102,400 blocks, approximately 1 year
Users can deposit stable coins USDT (ERC20), cUSDT, USDC, cUSDC, HUSD and GUSD through the website to participate in obtaining DDX, and support for other assets will be added through community governance;
1. 189117199391172 DDX will be continuously released in proportion to the pledged principal of participants in each block. By the end of the program, approximately 5% of the 50 million DDX liquidity mining supply will be released (release ratio may change through governance).
Steps:
Browse and log in to the DDX insurance mining website: https://insurance.derivadex.com
Click on the upper right corner of the browser to connect to your Ethereum wallet (there are 4 options: MetaMask, Fortmatic, Coinbase, and WalletConnect)
Choose the currency you want to pledge from the 6 stablecoins USDT, cUSDT, USDC, cUSDC, HUSD, and GUSD. For the first operation, you need to unlock the selected currency, sign the transaction in the wallet, and pay the Ethereum Gas fee
Pledge: Then enter the amount of stablecoin you want to pledge, sign the transaction with your wallet, and pay the Ethereum Gas fee
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Note: Another note is to leave a small part when extracting. For example, if you see that you can extract 1.285, you can extract 1.2. Later, the front-end update can solve this problem, don't worry.
Unstake: After selecting the currency, click the "Unstake" card, enter the amount of stablecoins to be unstaked, click the button, and the wallet will sign the transaction to unstake. It should be noted that you have to pay 0.5% of the total unstaked fee (stable currency billing)
The extracted DDX can currently be used for both DerivaDAO governance voting and transaction transfer
DDX insurance mining smart contract address:
https://etherscan.io/address/0x6fb8aa6fc6f27e591423009194529ae126660027
DDX token address:
https://www.coingecko.com/en/coins/derivadao
Audit Report:
https://certificate.quantstamp.com/view/deriva-dex
Debank link:
https://debank.com/projects/derivadex
DefiPulse link:
https://defipulse.com/derivadex
05 About DerivaDEX
