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Anyhedge to Launch Blockchain-Enforced Synthetic Derivatives for Bitcoin Cash


Anyhedge to Launch Blockchain-Enforced Synthetic Derivatives for Bitcoin Cash

Developers from the organization General Protocols have announced the launch of a synthetic derivatives platform built on Bitcoin Cash. The project Anyhedge aims to be the first decentralized finance (defi) protocol on any branch of Bitcoin and the platform will launch in cooperation with Cryptophyl’s new non-custodial exchange, Detoken.

Decentralized Finance on Bitcoin Cash

Bitcoin Cash fans were recently introduced to a decentralized hedge solution against arbitrary assets on the BCH network. Similar to other defi concepts, Anyhedge aims to “mitigate volatility through trading of risk in a peer-to-peer, non-custodial, blockchain enforced, fully collateralized way.” The creators of Anyhedge include well known BCH developers such as John Nieri (emergent_reasons), Jonathan Silverblood, Eric Teng, and Imaginary_username. “We believe that Bitcoin Cash and all crypto has a volatility problem that holds back adoption,” the Anyhedge devs wrote on the read.cash blog. “Anyhedge is a trustless (except for a price oracle), synthetic derivative that we created to mitigate the stability problem using the incentives of speculation.” The white paper states: Read More...

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