Deepwaters EU, and its parent company Vatnforn Inc., announced today that the long-awaited Deepwaters exchange will be publicly launching on the 14th of February, 2023. After over a year and a half of development, Deepwaters will be the first exchange in any asset class where the fraud, failures, and corruption that led to the collapse of FTX, Voyager, 3 Arrows Capital, Celsius, and others, are quite literally impossible. Already (before launch), the Deepwaters testnet boasts over 140k unique accounts and was the fastest growing unreleased project in the entirety of Web3 in November 2022 (compared to projects on DappRadar and ICOdrops).
SAN FRANCISCO, Feb. 7, 2023 /PRNewswire-PRWeb/ -- Deepwaters EU, and its parent company Vatnforn Inc., announced today that the long-awaited Deepwaters exchange will be publicly launching on the 14th of February, 2023. After over a year and a half of development, Deepwaters will be the first exchange in any asset class where the fraud, failures, and corruption that led to the collapse of FTX, Voyager, 3 Arrows Capital, Celsius, and others, are quite literally impossible.
In partnership with projects including NEAR, Wormhole, and Ava Labs, the Deepwaters team has brought together veterans of Jefferies, Goldman Sachs, and KPMG, along with real experience building high-frequency trading systems, managing hedge funds, and writing government policy. With a novel application of proven technologies, this team has placed an extreme emphasis on compliance, transparency, auditability, and reliability.
What is Deepwaters?
Deepwaters is a novel 'hybrid' exchange leveraging both centralized and decentralized technology. The platform is compliant, highly performant, and trustless. It guarantees enforceable integrity, accountability, and transparency; all of which are provable while maintaining the speed, efficiency, and low cost that users have come to expect from top-end centralized trading platforms. Key highlights include:
- Zero MEV/Front-running
- Zero Gas Trading
- Zero Internalization (& Internal Netting)
- Zero Slippage
- Zero Payment for Order Flow (PFOF)
- Zero Custodial Violations
- Zero Rehypothecation
This is the first exchange that preserves confidentiality and integrity of order flow from origination to fulfillment - ensuring that rehypothecation, custodial violations, and fraud (even on the part of the exchange itself) are impossible.
- The technology (code) itself prevents anyone, including Deepwaters, from viewing or manipulating the trade flow. All trades are completely confidential to all parties (immune from PFOF, internal netting, etc.) until published to a public order book - thus ensuring that no party gains informational advantage over any other.
- You don't need to trust our claims; you have absolute control and transparency into how trades are executed. Trading and customer asset management rules are public, and anyone can audit and validate that:
- All operations (trades) being executed confidentially, equally, and under the publicly defined trading rules.
- Custody is protected against non-trading related transactions, rehypothecation, and other malfeasance; users may choose to trade non-custodially at their own discretion, without penalty.
- Highest possible standard of third-party auditing and assurances. In addition to the ability for customers and exchange participants to validate the integrity of order-flow and custody, Deepwaters is partnering with FYEO for code audits and Fireblocks for additional asset security. Deepwaters will also be voluntarily introducing publicly monthly financial reviews, and quarterly audits from one of the "big four" firms in the next year - surpassing even the highest current standards of financial accountability.
Deepwaters already boasts over 140k unique users on testnet, and has secured over $5m in funding from firms including Avalanche, LD Capital, and Big Brains Holdings. The Deepwaters exchange public beta will go live on February 14th, followed by rigorous testing and rolling out of the full suite of auditing and transparency-focused functionality in the coming months. Avalaunch will be leading the public token sale on the 15th of February.
Media Contact
Michael Callahan, Deepwaters, 1 3157516893, [email protected]
SOURCE Deepwaters
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