Wrapping up the Detoken Partnership, and Great Things to Come
2021-August-5
December 2020 was a memorable time for both General Protocols and Bitcoin Cash (BCH). Detoken, an adventurous small exchange, was the first to use General Protocols' AnyHedge infrastructure to open a non-custodial derivative pair to the public. It was the culmination of many months of hard infrastructure work by General Protocols and application work by Detoken.
The AnyHedge protocol takes advantage of smart contract capabilities and the reliably low fees on the BCH network. As the first users of AnyHedge, Detoken offered a peek into what BCH is capable of. Being the first of anything comes with unique opportunities and growing pains, especially in such uncharted territories - together with Detoken we got BCH to where nobody has ever been.
Now, the partnership is coming to an end as the Detoken crew pursue other opportunities. We at General Protocols are thankful for the experience and proof of concept that resulted from this partnership - they will prove valuable in our upcoming product releases.
Stay tuned as we crank out more awesome things, both AnyHedge-related and beyond, in the upcoming months. We are aiming high, and definitely not stopping here.
General Protocols Blog
This article forms part of the General Protocols Blog, a collection of cross-platform links showcasing our team's community activity, Bitcoin Cash projects, UTXO development, and general crypto musings.
I like what you guys are doing. I'm thinking about what AnyHedge can accomplish a lot. Let me share some of it with you.
The long and short positions of AnyHedge can enable lending capability for bitcoin cash investors. Basically when you go on the long side of the trade. You can at the same time sell the same amount on the hedge side. And you can go ahead and use what you've sold until the contract is over also the contract can be extended. When the contract ends you have to buy the same amount you sold in USD.
This can be a great tool for investors. They are able to participate in their own economy while keeping their BCH. Also at the same time they are providing a service to people who want to be on the hedge side.
With that mindset I don't think it is crazy to see the hedge side could also receive some interest for hedging. Meaning keeping the value of their money locked in USD or any other local currency.