The Delphi Podcast

Delta Exchange’s Pankaj Balani: Building a Crypto Derivatives Exchange for Global Scale.

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Host Tom Shaughnessy talks to Pankaj Balani, CEO and co-founder of Delta Exchange. They discuss the differences between derivatives exchanges vs traditional exchanges, market stability, current engineering challenges, and more.

 

Episode Highlights:

  • Pankaj began in derivatives trading in Hong Kong before moving into hedge funds.
  • Pankaj believes his old colleagues view crypto as another asset class and are receptive to it.
  • The reaction has been positive to the recent Supreme Court decision in India to lift the ban on banks handling cryptocurrencies.
  • There has been significant growth in crypto in India in the last 2-3 months, more than many other markets have seen.
  • Even in the US, a lot of the major banks are difficult to work within crypto.
  • More and more people are viewing Bitcoin as a stable investment.
  • Delta’s focus is on retail and professional traders; there is a demand for hedging, but there is more demand for speculation.
  • They have more coins listed with them than any other peer exchange.
  • Delta plans to launch a product that marries DeFi and CeFi 
  • They realized they had to build technology that could monitor as many as 100 coins over every customer throughout the day’s fluctuations.
  • These engineering challenges are comparable to the engineering challenges in video streaming.
  • Pankaj doesn’t attribute the current market fluctuations entirely to coronavirus but it’s certainly a factor.

    •  

    Key Points:

    1. The lack of cooperation from major banks has held the development of crypto back.
  • No one in the derivatives space has truly solved the problem of scale across multiple assets.
  • Trading on futures is necessary in crypto.

    •  

    Quotes

    • “The genesis of derivative products, the need, it basically arose from the fact that people need to protect themselves against price movements.” –Pankaj Balani

     

    • “We are always very available to any kind of discussions. That’s the beauty of working in cryptos—you run a company and you’re interacting with your customers.” –Pankaj Balani

    Support The Show

    • ZenLedger is the official tax software of Chain Reaction for crypto investors and accountants. Get a 15% discount when you use code Chain15.
    • https://bit.ly/3bundEl
  • Visit Delta Exchange For A $10 Welcome Bonus!
    • https://www.delta.exchange/Tom

    Resources Mentioned: 

    • Chain Reaction Twitter: https://twitter.com/chainpodcast
  • Tom Shaughnessy Twitter: https://twitter.com/Shaughnessy119
  • ZenLedger is the official tax software of Chain Reaction for crypto investors and accountants. Get a 15% discount when you use code Chain15.
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