The decentralized finance (DeFi) industry has grown by leaps and bounds in 2020, with the total value locked in the industry now over $14 billion. With the intention of building off of this momentum, Leverj is introducing a non-custodial decentralized exchange that provides Bitcoin and Ethereum futures, in turn aiming to remove centralized party risk for traders.
“Leverj.io is the first derivatives exchange to crack the self-custody problem,” said Fran Stajnar, CEO of Techemy Capital, adding, “This is a significant piece of the DeFi ‘money lego’ stack.”
Leverj was launched by former JP Morgan and Goldman Sachs traders and engineers, and is built to perform much like a traditional financial exchange. But Leverj is also built on the Gluon.Network protocol, which was designed to facilitate decentralized derivatives trading.
Blockchain Labs, who audited the Gluon.Network codebase for three years, praised Leverj on its decentralized solution for futures. “We’re pleased with the professionalism and thorough approach Leverj has brought to building a protocol that can act as a decentralized clearing house for futures, options and swaps,” said Paul Salisbury, director of Blockchain Labs.
The futures contracts on Leverj are powered by research company Brave New Coin’s data infrastructure. In addition, Coinshares Capital Markets will provide market making and liquidity to the exchange, which will first offer Ethereum and ERC-20 tokens.
Leverj is also supported by several big names in the crypto space, including digital asset investment firm Coinshares, Ethereum software company ConsenSys (which funds an editorially independent Decrypt), stablecoin system Maker, and active investors Techemy Capital.
Each of these companies are also investors in L2, the Gluon.Network’s native governance token.
In addition to the Ethereum and Bitcoin perpetual swap contracts launched today, Leverj aims to launch a third product, the BNC DeFi Index—listed against USDT—in mid January.
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