External Custody
Deri V3 adopts a money market protocol as "external custodian" to carry out the following functionalities:
- Holds and secures user capital in one or several base tokens;
- Calculates a total dynamic effective value of the user capital deposited.
For the trading business to better scale, Deri Protocol adopts Venus as the external custodian on BNB Chain. Venus does not just hold capital but also calculates its dynamic effective value.
The support of multiple base tokens is more systematical, as users can choose to deposit any token supported by Venus, e.g. USDT, BUSD, BNB, BTCB, XVS, etc.
When users deposit several kinds of tokens, the real-time total dynamic effective value of the tokens is calculated by Venus Protocol with some built-in functions.
For the trading business to better scale, Deri Protocol adopts AAVE as the external custodian on Abitrum. AAVE does not just hold capital but also calculates its dynamic effective value.
The support of multiple base tokens is more systematical, as users can choose to deposit any token supported by AAVE, e.g. USDC, DAI, WBTC, ETH, LINK.
When users deposit several kinds of tokens, the real-time total dynamic effective value of the tokens is calculated by AAVE with some built-in functions.
Last modified 10mo ago