Fintech North America

LEVERJ and Brave New Coin Partner to Launch First Scalable Decentralised Derivatives Exchange

Wall Street veterans behind LEVERJ introduce fast, secure derivatives products while partnership with Brave New Coin secures a full product pipeline

Digital asset data infrastructure company Brave New Coin has announced a partnership with LEVERJ to roll out a full pipeline of innovative exchange traded products for, the world’s first scalable decentralised derivatives exchange. Launched by Wall Street veterans from J.P. Morgan, Goldman Sachs, and Credit Suisse, LEVERJ is a decentralised cryptocurrency derivatives trading platform created to perform like traditional financial exchanges while maintaining the critical function of security. LEVERJ is completely self-custodial by design, meaning that users always control their private keys and funds.

Interest in Decentralized Finance (“DeFi”) is skyrocketing, with trading on decentralised exchanges topping $4 billion in July 2020. To cater to strong customer demand, LEVERJ has built a high-frequency, multi-currency spot and futures trading platform. For DeFi pundits, it represents one of the industry’s most anticipated launches of the year as it brings feature parity to the DEX world. LEVERJ will work with Brave New Coin to introduce several derivatives products, starting with an ETH-USD and BTC-USD perpetual swaps. The two companies are also working together to introduce sub-sector specific tradable products like a DeFi index, privacy coin index, volatility indices and much more.

Centralised cryptocurrency exchanges have faced challenges with security and performance, often falling short of the standards set by traditional financial exchanges. As a result, investors and traders have lost hundreds of millions worth of digital assets due to exploits, mishandling, and misappropriation. LEVERJ solves these challenges with their Gluon sidechain, a mathematically rigorous protocol preventing fraud, compromise, and collusion to provide all the benefits of blockchain without the limitations. Gluon is an advanced, fully operational Ethereum Layer 2 chain, giving LEVERJ high-transaction, low-latency throughput similar to centralised exchanges. Added to this, developers can also build decentralised applications using Gluon, including their own decentralised exchanges.

Gluon has been in development for over three years and is currently the only Layer 2 solution purpose built for high-capacity trading, that has instant-finality, strong composability and conventional API’s for sophisticated traders to feel like they are using a regular centralised exchange without the counterparty risk of one.

“Most exchanges self-index, which introduces unnecessary risk. While LEVERJ and Gluon are decentralised, we fully take into account the importance of safe product design when it comes to derivatives,” said Bharath Rao, co-founder of LEVERJ. “By partnering with Brave New Coin, we give our users more transparency in the benchmark methodology and instrument design process as well as a greatly expedited product roadmap. It’s our goal to bring the best practices of capital markets into the DeFi space, thus attracting new institutions who wouldn’t trade anywhere with vague rules.”

All methodologies will be fully transparent and published on both companies’ websites. The partners have created an index steering committee to lead a quarterly review of design and constituents. BNC having operated the first ever ChainLink node and consulted to a number of Oracle providers over the years, has a great deal of experience in the area of Decentralisation of index calculation. Leverj is fully native to decentralised technology solutions. The two parties are also firmly committed to decentralising the indices and their infrastructure further over time.

“We first envisioned decentralised derivatives back in 2015, but only in the past few months has the ecosystem’s infrastructure finally become strong enough. LEVERJ’s Gluon is representative of this and is a real breakthrough,” said Fran Strajnar, CEO of Brave New Coin. “This technology will coalesce several DeFi applications into a single interoperable layer. If someone wants to iterate on LEVERJ’s UX or features, they can build their own exchange and still tap into the liquidity on Gluon as integrating the Gluon smart contracts will be straightforward and come with incentives for market makers and developers alike.”

Brave New Coin’s 3rd generation (“V3”) crypto index infrastructure has been in high demand since its launch in early 2020 from companies including BTSE and the Toronto Futures Options and Swaps Exchange (tFOSE). BNC provides data and index solutions for several partners including Refinitiv, Amazon Alexa, Dow Jones Factiva, NASDAQ, and many more. When you ask Amazon’s Alexa for the price of any cryptocurrency, her answer comes from Brave New Coin’s data engine.


  • Editorial Director of the The Fintech Times

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