As per the latest reports, Delta Exchange has successfully carried out its native Delta Exchange Token’s (DETO) private sale. As a result of the successful sale, the platform has been able to generate a total of $5 million. Delta Exchange is reportedly one of the prominent platforms that are known for providing cryptocurrency derivatives.
The firm has stated that after seeing such a high influx of investments and sales for the native token “DETO”, it is confident that it will be able to target a wider retail derivatives market for adoption.
It has been confirmed that in the private sale, there were some well-known names that belong to the decentralized finance (DeFi) sector. These names are also one of the reasons that the private sale ended up becoming a success.
Some of the major names from these decentralized entities were BR Capital, LuneX Ventures, Sino Global, Kyber Network, Aave Ventures, and other firms as well.
Ever since the beginning of the year 2021, the decentralized finance (DeFi) has managed to gain significant growth and development. This is the reason why the market capitalization of the decentralized finance (DeFi) has surged in recent months. At the time of writing, the market capitalization of the entire decentralized finance (DeFi) industry is sitting at $88.2 billion.
The growth in the decentralized finance (DeFi) industry can be measured by the amount of growth it has managed to gain in a single day. In a single day (March 30, 2021), the market capitalization of the decentralized finance (DeFi) industry has increased by 12.5%.
It has been confirmed that the native token launch was not the only announcement that was made by the Delta Exchange. While making the announcement of the launch for the native token on Tuesday, March 30, 2021, the firm also made an announcement regarding its mining feature.
The firm announced on Tuesday that it has also enabled trading farming as well as liquidity mining features.
With the launch of the liquidity mining, Delta Exchange has achieved another milestone as this will be for the first time for liquidity pools to be offered through a centralized derivatives platform.
The Delta Exchange has also confirmed the launch of the DETO/USDT trading pair. It has confirmed that as soon as the native token gets launched, the users will have access to the DETO/USDT trading pair.
Just for more clarity, the Delta Exchange Token (DETO) exists as an ERC-20 reward and utility token. Users that have the Delta Exchange Token (DETO) will be able to perform trades and benefit from the services offered through the Delta Exchange using these tokens.
It has been revealed that in order to facilitate liquidity, the token will be utilizing the market-making pools. This mechanism will turn out to be as similar as the automated market makers that currently exist in the decentralized finance (DeFi) industry.