Our First Month Live!

Seth Rubin
Jul 30 · 3 min read

MARKET Protocol by the numbers:

  • 525 registered users, 2000+ unique website visitors
  • $200,000+ locked in smart contracts over two contract expirations
  • 250+ trades in SBTC and LBTC
  • Traded on two exchanges — MPX and DDEX

Podcasts — Listen to Seth Rubin on Wyre Talks and BlockCrunch

We had some great support on twitter from Erik Voorhees, Andrew Keys, Kieran Daniels and more.

Week 1:

We made a bunch of changes to the GUI to address some of our most common questions about leverage and price. Now traders can easily see max gain, max loss, leverage and implied price via tooltip.

Bitcoin ripped! We nearly breached our Price Cap of $14,000 three days into trading before screaming off of the highs. One savvy trader put on some perfect trades I highlighted in the best trades of week with 35x leverage!

Week 2:

The v2 roadmap was posted in our blog post What’s next for MARKET Protocol. We implemented blocknative to handle web3 connectivity states. We released the first version of MP Tools as an easy way to learn more about LBTC and SBTC. You can see the implied price of bitcoin and how much leverage is implied at different prices.

Week 3:

We had our first expiration go off without a hitch settling bitcoin at $10,330.50. Holders of open positions began redeeming their collateral. Next, we launched on DDEX bringing SBTC and LBTC to a new set of users.

We’ve had over 100 people sign up for our MP rewards program. MKT tokens are currently held by over 250 accounts. Read our v2 roadmap for more information.

v2 Roadmap

Week 4:

We were happy to be part of the first AMA in the DeFi the World Series initiated by DeFi Labs, DOS Network and Hydro Protocol on WeChat alongside with Anton from Kyber Network.

We are also proud to have our first third-party implementation — an exciting project building a BTC hash rate index on top of MARKET Protocol. Please take a look at CarboClan’s Tokenized Synthetic PoW Mining Contract.

We would love to get you trading.

Are you hodling Bitcoin? Use LBTC to get 3x the exposure for the same collateral. Think we’re going down from here? Now you can profit from a decline in price.

We are offering one on one help on trading with leverage or anything else. All we ask for it a little feedback. Reach out on Discord, Telegram or Google Hangouts. Please grab 15 minutes here.

MARKET Protocol

Powering safe, solvent & trustless trading of any asset | marketprotocol.io

Seth Rubin

Written by

Co-founder MARKET Protocol

MARKET Protocol

Powering safe, solvent & trustless trading of any asset | marketprotocol.io

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