DerivaDEX Receives Bermuda Financial License, Becoming the First DAO-Related License According to The Block, DEX Labs CEO Aditya Palepu revealed that DerivaDEX, managed by a DAO, has received a license from the Bermuda Monetary Authority (BMA), marking the first DAO-related license issued by the agency. DerivaDEX is a decentralized derivatives trading platform focused on institutional users and is expected to launch before the end of the year. The protocol was designed by veterans from DRW and Consensys and has received backing from venture capital firms such as Dragonfly, CMS Holdings, Electric Capital, and Polychain.