Detoken is a non-custodial financial platform. That means you are always in control of your money, not us.
Detoken uses the Anyhedge smart contract protocol to create blockchain-based synthetic derivatives, aka futures contracts.
Bitcoin Cash powers all transactions and acts as a cheap and reliable monetary ledger.
You create a Detoken web-wallet to get started. This wallet is non-custodial, which means that you are in complete control of your money. Even Detoken can’t access it, making the whole process “trustless”.
Your wallet is easy to back up . Restore your wallet using seed words, anytime, anywhere. Import any BCH wallet into Detoken.
Your private key is yours. Detoken never sees your unencrypted private key. Detoken's server stores encrypted key for convenience, decryption happens in your browser.
Your wallet is automatically saved by Detoken in an encrypted form. You can access it anytime on Detoken using your email and password to sign in.
Detoken’s futures contracts are powered by AnyHedge. Each contract has two parties: the hedge and the long. You can take either side of a contract, known as a position. Every position is made possible by a smart contract on the BCH blockchain. Always non-custodial and trust-less. Learn more about the specifics of these two positions:
Escape price volatility by locking the value of your crypto with a hedge position.
Hedge
Escape price volatility and stabilize the USD value of your BCH.
Earn
Earn or pay the funding rate for your position side, instantly.
Wait and settle
Walk away with the same USD value of BCH as you started with, no matter what.
Bet that the price of your crypto will grow with leverage using a long position.
Long
Bet that the price of your crypto will go up by taking the Long side.
Earn
Earn or pay the funding rate for your position side, instantly.
Wait and settle
Earn with 3x leverage if the price increases.
Detoken
No. Detoken never has access to your private keys. Detoken only stores an encrypted version of your master private key which is protected with your wallet password.
Your Detoken wallet runs within the browser, just like many popular wallets such as MetaMask. When you Sign in, your encrypted private key is retrieved from Detoken's server and decrypted in your browser using your wallet password.
When you create your Detoken wallet, you will be shown your wallet seed words. These are 12 words implemented using the BIP 39 standard, which allow you to import your Detoken wallet into any BIP-39 compatible wallet.
Yes. Detoken's wallet is the same as any other Bitcoin Cash wallet. It runs in your browser.
Yes. You can see Detoken's client source code on GitLab.
Contracts
Hedge and long positions are made possible by a smart contract on the Bitcoin Cash blockchain, where both parties pay into a Pay-to-Script-Hash (P2SH) address using a custom funding transaction. This funding transaction is made in the Detoken wallet.
There is no order book. Detoken currently uses a private liquidity pool. The start price for a contract is always the current market price for the respective product. Premiums (the cost of funding) are calculated based on the current ratio of hedges and longs. In the future, this liquidity pool may be made public.
The contract fees are fixed to 0.3% of the size of your position. Contract fees are paid during contract creation.
The AnyHedge smart contract was written by General Protocols. You can view the source code on Gitlab.
Currently, you can not cancel an AnyHedge contract. The contract settles either after expiry or price-based liquidation.
You can simulate a contract using AnyHedge's contract simulator, located at the bottom of AnyHedge's "How it Works" page.
Contracts get pricing data using a secure Oracle operated by General Protocols. Price data is sourced from BitPay's price API.