Delta Exchange, a cryptocurrency derivatives platform, has successfully concluded a $5 million private sale of its native DETO token, setting the stage for wider adoption of its retail derivatives marketplace.
Some names in DeFi, or decentralized finance, participated in the private sale, including Aave Ventures,and Kyber Network. Sino Global, LuneX Ventures, BR Capital and others also participated in the sale.
At the time of writing, the total market capitalization of DeFi projects was $88.2 billion, marking an increase of 12.5% on the day.
In addition to the token launch, Delta announced Tuesday that it has activated its liquidity mining and trade farming features, supposedly marking the first offering of liquidity pools on a centralized derivatives platform. The DETO-USDT trading pair will go live immediately after the token launch.
DETO is an ERC-20 utility and rewards token that powers Delta Exchange. It utilizes market-making pools for liquidity, making it similar to existing DeFi automated market makers, albeit with some important differences.
Pankaj Balani, Delta’s