Over the course of the last few years, decentralized finance (DeFi) platforms have exploded in popularity. And not only that, the mechanisms involved in trading are becoming more and more sophisticated. However, one facet of the DeFi market that has lagged behind is the derivatives market. A key factor preventing decentralized derivatives from realizing their full potential is the current lack of projects that sufficiently both understand what a healthy derivatives market requires, and also can conceptualize how to facilitate such a market in the realm of DeFi. Enter: Qilin Protocol.
Qilin Protocol is a decentralized and permissionless, perpetual trading protocol for crypto assets. Their team is well-equipped to implement solutions to the current problems faced by derivatives markets. And today, PARSIQ is happy to announce a partnership with Qilin Protocol.
Qilin Protocol
Qilin Protocol is a decentralized derivatives trading protocol on Ethereum that allows for customized composable derivative contracts based on any asset and risk-adjust contract pricing based on LP risk. It launched a ETH-USDC perpetuals contract market in April of 2021, when it introduced a suite of innovative features, such as rebase funding rates and peer-to-pool liquidity provisions. Qilin Protocol is scheduled to launch its V2 to bring a fully permissionless perpetuals market to DeFi in the upcoming month. On Qilin V2, users will be able to create perpetuals markets for any trading pair and provide liquidity in any asset. This permissionless design is aimed to scale DeFi derivatives to thousands of perpetuals pairs. We are excited to see what their team can accomplish!
PARSIQ + Qilin Protocol
PARSIQ offers real-time monitoring of blockchain data. With the development of decentralized and permissionless derivatives trading, data analytics solutions of the kind PARSIQ offers become more important than ever. Decentralized derivatives markets bring with them an extra layer of complexity, so it is essential to have an accurate and up-to-the-second picture of the state of the blockchain. With PARSIQ integrated into Qilin’s permissionless perpetuals marketplace, liquidity providers and users will be able to receive trigger warnings from on-chain events such as liquidations, long orders, short orders, and rebase events, to mention just a few.
What sets Qilin apart from other DeFi derivatives protocols is the scope of their vision and their understanding of the market’s landscape. Based on the services they offer, and on the capabilities of their technology, the vision of Qilin is to become the analog to Uniswap for derivatives. Until now, there has not been a decentralized derivatives market that comes close to offering a permissionless, Uniswap-level scaling solution capable of expanding the derivative market. Yet, with PARSIQ providing essential data infrastructure, this is what Qilin has the potential to become.
About Qilin
Qilin is a decentralized derivatives trading protocol on Ethereum that allows for customized composable derivative contracts based on any asset and risk-adjust contract pricing based on LP risk.
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About PARSIQ
PARSIQ is a blockchain monitoring and workflow automation platform connecting on-chain and off-chain applications in real-time, providing transaction notifications for end-users. With PARSIQ you can connect blockchain activity to off-chain apps and devices, monitor and secure DeFi applications, and build custom event triggers and power real-time automations.
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