Singapore, Singapore–(Newsfile Corp. – May 11, 2022) – Friktion Labs, Solana’s leading portfolio management protocol, is partnering with Paradigm to bring institutional liquidity to DeFi options and perpetuals markets.
Friktion Partners with Paradigm to Bring Institutional Liquidity to DeFi
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Paradigm – the leading CeFi options liquidity network for traders – is connecting their marketplace to Friktion. As a liquidity partner, Paradigm will enable access to an expansive network of 700+ counterparties who account for nearly 30% of daily global crypto options flows. This is the largest Institutional DeFi integration the Solana chain has seen to date. This serves to unlock deeper liquidity for Friktion’s auctions and deliver superior pricing to users.
“Our partnership with Paradigm will further unlock efficient price discovery and execution for Friktion auctions while preserving the non-custodial DeFi guarantees we value. Bringing the largest CeFi options liquidity network to Solana is the first step in our plan to scale liquidity across venues for Friktion,” said Uddhav Marwaha, CEO Friktion Labs.
Building for long-term DeFi yield generation
With the recent launch of a perpetuals-based basis strategy on Mango Markets, Solana’s leading perpetuals trading venue, Friktion aims to tap into Paradigm’s deep marketplace to deliver an innovative DeFi/CeFi integration that has not been possible on other L1s.
“Friktion has been at the cutting edge of innovation since their launch and we are delighted to help support their incredible pace of product innovation with our best in class liquidity and automated RFQ workflows,” said Anand Gomes, CEO, Paradigm.
Auction mechanism design and optimization is a topic deeply researched in building out the auction engine behind Friktion which has traded nearly $2bn in volume since the launch in December 2021. With Paradigm joining the liquidity network, a new scale of counterparties will seamlessly be able to access the DeFi options market.
Friktion is Solana’s leading protocol for risk-managed yield strategies. Friktion’s core products, known as Volts, are becoming building blocks of DeFi portfolios that can perform across market cycles. Their platform, launched in December 2021, has amassed over 15,000 users and done nearly $2bn in volume since, hitting. The protocol’s mission is to enable access to long-term sustainable DeFi yields. Learn more at app.friktion.fi
Paradigm is an institutional liquidity network for crypto derivatives traders and crypto protocols across both CeFi and DeFi ecosystems. The platform provides traders and crypto protocols unified access to multi-asset, multi-protocol liquidity on demand without compromising on execution preferences, costs and immediacy. The firm’s mission is to create a platform where traders can trade anything, with anyone and settle it anywhere.
Paradigm has the largest network of institutional counterparties in crypto with over 700 institutional clients trading over $10B per month including Hedge Funds, OTC Desks, Lenders, Structured Product Issuers, Market Makers, and prominent Family Offices.
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