The significant shift towards decentralized derivatives exchanges, like Bitoro Network, is driven by a combination of factors rooted in the core values of the crypto community: transparency, security, and autonomy. The unfortunate collapse of FTX certainly acted as a catalyst, but it is crucial to recognize this shift was underway due to growing awareness and demand for decentralized solutions as users seek platforms where they retain control over their assets.
Bitoro, branded as an ecosystem for on-chain perp liquidity, has already exceeded $3 billion in volume and attracted over 50,000 traders since its launch at the end of March 2024. The recent announced development of a brand-new liquidity layer built on ZKsync's Elastic Chain suggests Bitoro's strategic commitment to enhancing decentralized derivatives and providing more robust trading solutions to its users.
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