Bitget, the largest crypto copy trading platform, has announced that it will be listing the IPOR Protocol on its Innovation Zone of the spot market. This move is aimed at bridging the gap between DeFi and TradFi by providing risk management tools, including interest rate derivatives and indices for the emerging DeFi credit markets. Deposits for digital assets will be available from 7 AM on March 22nd, 2023 (UTC), with trading set to commence at 12 PM (UTC) on the same day.
With its unique offerings, IPOR Protocol is a decentralized interest rate derivative exchange that utilizes the Inter Protocol Over-block Rate (IPOR) index. The protocol is ranked as one of the top 5 derivative platforms by TVL, totaling over $40 million, and the top 2 on Ethereum. Its team, comprising members who have been in the crypto industry since 2011, includes three PhDs, quants with over 20 years of experience in fixed income, enterprise software developers with over 15 years of experience, and advisors for Cardano and the founder of 1inch.
The interest rate derivative market in TradFi is enormous, with a notional value of between 450 and 600 trillion. However, it remains untapped in DeFi. IPOR Protocol aims to fill the void by providing non-custodian on-chain interest rate swaps through the IPOR Index, IPOR AMM liquidity pools, and Asset Management smart contracts. This will enhance stability and make fixed-income investments more attractive to traditional finance players.
Bitget’s Managing Director, Gracy Chen, said, “As a leading crypto exchange in futures trading and copy trading, expanding the product offerings is our major strategy this year. Even in the bear market, we are happy to support more promising projects in our fast-growing spot trading market, and we believe that IPOR’s unique features will attract both DeFi and TradFi players, bringing DeFi to a wider audience.”
Bitget, established in 2018, is the world’s leading cryptocurrency exchange with futures trading and copy trading services as key features. It serves over 8 million users in more than 100 countries and regions and is committed to helping users trade smarter by providing a secure, one-stop trading solution. It also inspires individuals to embrace crypto through collaborations with credible partners such as legendary Argentinian footballer Lionel Messi, the leading Italian football team Juventus, and official eSports events organizer PGL. According to Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.
In summary, the listing of IPOR Protocol on Bitget is a welcome development for the emerging DeFi credit markets. With Bitget’s vast reach, the protocol’s unique offerings will attract both DeFi and TradFi players, expanding the adoption of DeFi to a wider audience.