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Delta NewsOctober 13, 2018

Delta Exchange: The What, Who, Why, and How

Jitender Tokas
Chief Business Officer
October 13, 2018
What's in this post?

    We launched Delta in August with a single BTC-USD Futures contract listed on the exchange. Since then we have made significant strides — we listed Futures on ETH, XRP and XLM, launched our referral program and started to offer option to hold USDT in Delta wallet. In this backdrop, we believe now is an opportune time to articulate Delta’s raison d’être, our values, vision, mission and plans for the future.

    What is Delta Exchange

    Delta is a cryptocurrency derivatives exchange. We currently offer Futures contracts that have cryptocurrencies as underlying (e.g. BTC, ETH, XRP and XLM) and are settled in BTC.

    Cryptocurrencies are geography agnostic and so are we. We want to be able to serve traders all over the globe and that’s why we have taken the strategic call to not have any fiat interaction on Delta. All derivative contracts on Delta are and will always be settled in cryptos.

    Delta Exchange Trading Terminal
    Who’s behind Delta

    Founding team: is comprised of three IIT-educated engineers who in the past have worked with bulge-bracket investment banks and have built and scaled venture-funded tech startups.

    Pankaj Balani (CEO): has spent over 6 years in derivatives trading in Hong Kong and India at wall street giants like UBS. He has deep experiences in derivatives, quantitative finance and Asian equity markets. Pankaj also helped build and grow an e-commerce business in India which went on to raise Series C round of financing.

    Jitender Tokas (CBO): has worked with Citigroup in India and GIC in Singapore. In his 8+ years career in financial services, Jitender has been both an institutional investor and equity research analyst and helped two Indian Internet companies raise money from public markets.

    Saurabh Goyal (CTO) is a serial entrepreneur and a seasoned tech leader. He first cofounded which went on to raise money from Softbank. Saurabh then built and sold a FoodTech company, TinyOwl that scaled to 1.5mn users, 1200 employees and raised USD ~25mn from the likes of Sequoia, Matrix and Nexus. Saurabh was also the Director of Engineering at Hostar — a video streaming platform which has over 20mn users and handles ~5mn concurrent users.

    Advisory Team: The founding team is ably mentored and supported by a group of current and ex entrepreneurs, leading academics and Wall Street veterans.

    Prof Bhagwan Chowdhry: is a Professor of Finance at UCLA Anderson since 1988. He has served on the editorial boards of several finance and economic journals and advises a number of fintech companies including Stellar.

    Stani Kulechov: is the founder and CEO of Aave and ETHLend. He is a seasoned entrepreneur with extensive experience developing technology in the crypto, blockchain, and fintech space. Stani is also a mentor to many founders and advisors of ICOs and blockchain projects.

    Jitendra Gupta: is the MD of PayU , India’s leading payments company. Previously, Jitendra founded Citrus Pay which raised over USD 30mn and was acquired by PayU.

    Dan Clarke: is currently the CMO of Taiwan’s largest digital asset exchange, MAX. He has worked in finance for the last 20 years, with his most most recent roles being the Taiwan country head for both Barclays and Macquarie.

    Why Crypto Derivatives Matter

    Derivatives are an important segment of global financial markets. Derivatives offer various types of risk protections, enable innovative trading strategies and are key contributors to the well-being and stability of the financial system.

    The building blocks of fiat-led financial markets are currently being created in the crypto ecosystem. We believe derivatives is one such piece that will continue to gain prominence as both crypto markets and investors mature.

    It is worth noting that there’s more to derivatives than just leveraged speculation. Derivatives have the potential to serve as important risk management tools for long-term HODLers, miners and even day traders.

    Well-functioning crypto derivatives markets will lead to lower volatility (as traders can go both long and short), higher liquidity and will make the currently rampant market manipulation harder.

    Why another Crypto Derivatives Exchange

    Currently derivatives are available only on a handful of crypto exchanges. While there’s ample liquidity in Futures on top coins, there’s significant discontent in the trader community due to questionable practices of some of the trading venues and wide-spread market manipulation.

    The crypto derivatives community is looking for alternatives that provide a fair, reliable and safe way to trade crypto derivatives. We aim to be this alternative. We are and will always be a #TradersFirst exchange and will always do right by our customers.

    What do we stand for

    Our Mission: To accelerate the advancement of the cryptocurrency financial system

    Our Vision: To build the most liquid and trusted global cryptocurrency derivatives exchange that can ably to serve both retail and institutional traders.

    Our Values: Fairness, Integrity and Transparency are the trinity of values that guide all our business decisions and keep us on the path of realising our vision.

    • Fairness: we are committed to providing a fair trading venue to all our clients, irrespective of their size or significance.
    • Integrity: we are committed to be honest in all our dealings with our clients, business partners and vendors.
    • Transparency: we are committed to be transparent and consistent about various exchange policies (matching engine, risk management) to ensure a predictable and reliable trading experience.
    How do we plan to achieve our goals

    Customer focus: As an exchange, our responsibility is first to our traders. We are laser-focused on providing the traders on Delta the best possible and fair trading experience.

    Financial Innovation: We have a well-defined pipeline for augmenting the financial products listed on Delta. This includes Futures contracts on leading altcoins, Perpetual contracts, settlement in multiple cryptocurrencies and Options.

    Tech leadership: Our trade matching engine has been built in-house from scratch, for scale. It is supported by robust risk engine, strong APIs and Enterprise-grade security. We are striving to make 24/7 availability, reliability and liquidity the defining features of Delta.

    Originally publishedhereon our Medium blog.

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