Mini-App FAQ

What is the Deri mini-app/bot?

The mini-app/bot is a version of the Deri platform adapted to Telegram for mobile users. It is a combination of a Telegram bot (a messaging interface that responds to your commands) and a mini-app (a mini-browser inside Telegram).

How can I quickly access the Deri mini-app?

If you haven’t interacted with the Deri mini-app yet, go to https://t.me/DeriTradingBot, or search for "@DeriTradingBot" or "Deri Trading Bot" in the Telegram search box to start a conversation with the Deri Trading bot. Make sure that you are indeed interacting with the bot with the handle "@DeriTradingBot" as some malicious actors could try to copy our bot in order to scam users.

Once you've interacted with the bot, it will appear in your conversation list. To make it even easier to find next time, you can pin the conversation with the Deri Trading bot or create a folder (e.g., "App") and add the Deri Trading bot to it.

Do I need to share my private key to use the Deri mini-app?

No. Unlike many Telegram mini-apps that require you to submit your private key or mnemonic phrase, the Deri mini-app never asks for such sensitive information. (We don’t agree with those practices either.) Instead, the mini-app generates a "smart account" for you.

So, do you control the private key of the "smart account" you generated for me?

No. "Smart accounts" are smart contracts and therefore do not have private keys. Your smart account acts as an affiliated proxy of your linked wallet address. Its role is to trade and hold positions on behalf of your wallet address (i.e., on your behalf).

Can you or anyone else access the funds in my smart account?

No. The code of the smart account ensures that the funds within it can only be used to trade derivatives on Deri or to be withdrawn back to your linked wallet address. The funds cannot be transferred elsewhere.

What happens if your server gets hacked like those at centralized exchanges? Will my funds be lost?

No. Your funds are stored in your smart account, not on our servers or in our account. The smart account’s code guarantees that the funds can only be sent back to your linked address, nowhere else. Even in the unlikely event that our server is hacked (which, for the sake of argument, we assume could happen), your funds remain safe.

Can I change the linked address associated with my smart account?

No. Once created, a smart account is permanently bound to its linked address, which cannot be changed. If you want to use a different linked address, you would need to delete the current smart account and create a new one.

What if I lose access to the linked address? Can you recover the funds in my smart account?

If you completely lose control of the linked address (e.g., you lose your wallet and cannot recover it with the mnemonic phrase), then you lose access to the funds in the smart account as well. Unfortunately, there is nothing we can do in this case.

If someone else gains control of your linked address (e.g., an attacker steals your private key), they can access the funds in your smart account. Again, there's nothing we can do to prevent this.

Remember, the smart account is an affiliated account to your linked wallet address, meaning control of the linked address equals control of the smart account.

What’s the difference between trading via the Deri mini-app and via the website deri.io?

Trading via deri.io follows the standard Web3 style, requiring you to confirm every action with your wallet (e.g., MetaMask). In contrast, trading via the Deri mini-app ressembles centralized exchange trading—no wallet confirmation is needed (Web2 style). However, since the smart account executes trades on your behalf, your funds remain nearly as secure as with the standard DeFi approach. You don’t have to worry about the risks associated with centralized exchanges, such as scams/fraud (like FTX) or hacks (like Mt. Gox).

In short, trading via the Deri mini-app offers the convenience of Web2 with the security of Web3.

Is my smart account tied to the current blockchain? Can I switch to another blockchain for trading?

Yes, your smart account is linked to the blockchain where it was created, and this cannot be changed. To switch to another blockchain for trading, you’ll need to delete your current smart account and then create a new one, choosing the desired blockchain during the creation process.

What are the costs of trading on the Deri mini-app?

You’ll incur transaction fees and gas fees. The transaction fees work similarly to those on centralized exchanges. The gas fees cover the cost of executing your transactions on the blockchain. However, unlike when you execute transactions yourself and only ETH is accepted for gas, Deri mini-app smart accounts support multiple gas tokens, such as ETH, USDC, and others. Typically, all tokens accepted as collateral for trading are also accepted as gas tokens.