The development in the decentralized finance sector amongst the altcoins has been quite a major headline for this year. Currently, hundreds of billions of dollars in crypto holdings have been set onto protocols across quite a few networks of blockchain- which have been earning their yield for their holders.
What simply came into existence after a simple swap interface based on Ethereum has seemingly exploded into a huge ecosystem that is filled with yield farms, decentralized exchanges, staking platforms, and lending protocols.
As the development of altcoins continues, leading to older protocols turning out to be more established, there have been several new projects which have come up to incorporate newer pieces from the traditional financial realm into the arena of DeFi as the technology of the digital sphere is slowly transforming the entire global system of financial institutions.
Decentralized derivatives trading of altcoins
Several altcoins derivatives exchanges have been the target for a multitude of regulators, and what were once defiant exchanges like Binance and BitMEX have finally found themselves bending to them, and going about modifying their practices of operation as they move about looking for a more legitimate standing.
This has definitely increased the necessity for crypto traders to move for similar services without the target which is a centralized institution for regulators.
One of the altcoins that have a solution to this problem is DyDx. This is a non-custodial perpetual trading platform that has been created on a layer-two protocol that usually operates on the network of Ethereum and allows users access to up to ten times more leverage on futures contracts for close to twenty different cryptocurrencies.