D8X, an institutional-grade decentralized exchange (DEX) for derivatives on Polygon zkEVM, has secured a $1.5 million pre-seed round with support from Polygon Ventures and other notable investors. This funding will enable D8X to launch a decentralized derivatives trading platform in the second half of 2023, offering a white-labeling solution to trading partners seeking access to powerful derivatives products.
The pre-seed round for D8X includes participation from other prominent investors such as Axelar Network, Swissborg Ventures, Cogitent Ventures, Veris Ventures, G1 Ventures, Pragma Ventures, CryptoDiscover, and more. The backing from these investors highlights the growing interest in decentralized finance (DeFi) and the potential of D8X’s platform.
D8X aims to bridge the gap between centralized finance (CeFi) and DeFi by providing a white-label solution to centralized players who want to offer decentralized crypto derivatives to their clients without the need to develop in-house market-making and trading engines. This approach allows partners to act as brokers, running their own front ends powered by the D8X trade engine and shared liquidity, while earning fees.
One of the key advantages of D8X’s platform is its sophisticated on-chain solutions that offer cost-efficient hedging, a crucial element for a highly functional derivative trading space. D8X’s contract trading allows other DeFi protocols to hedge on-chain efficiently, and their perpetuals can be calibrated for a wide range of assets, supporting linear, inverse, and quanto perpetuals. Additionally, D8X will launch a liquidity pool in Lido’s staked ETH (stETH), enabling liquidity providers to earn the Lido yield while participating in the DEX’s earnings.
Built on Polygon’s zkEVM, D8X harnesses the power of zero-knowledge proofs to cut transaction fees, increase security, and scale operations across the Polygon and Ethereum networks. As the first business-to-business (B2B) DEX on Polygon’s zkEVM, D8X is at the forefront of innovation and community in the zero-knowledge space.
D8X follows regulatory guidance from Switzerland’s financial market regulator FINMA, ensuring compliance and trust for institutional investors. The project’s codebase has undergone audits by PeckShield and Hacken, further validating its security and reliability.
With its vision to bring truly decentralized derivatives as white-labeling solutions to institutions, D8X is set to revolutionize the way decentralized derivatives are traded. The support from Polygon Ventures and other investors highlights the growing interest in DeFi and the potential for D8X to drive the future of finance.
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