Oddz, a platform devoted to derivatives, is deployed on the Binance Smart Chain. It is the first options trading protocol made available on the complementary but independent system to the existing Binance Chain. The team behind it offers to open up the sector making use of reduced costs and improved architecture. Will crypto derivatives meet the heights some say they deserve is still to be seen, however, Oddz is clearly not shying away from betting on the possibility.
A Well-Guarded Hunt
In traditional finance, global gross notional amounts of derivatives represented $600 trillion at the end of 2019, or jaggedly 10 times the value of their underlying assets. This ratio falls to 1/3 in the cryptosphere, for an estimated 2000 billion… with such a margin of progress, it is not astounding to note that the cravings are becoming stronger.
Derivatives trading is not new to decentralized finance. Many exchanges have by now showed up in the sector, such as Binance or FTX. It can be observed, nevertheless, that a majority of “novice” investors shy away from it, for now, disheartened by the surrounding complexity and technical requirements. By providing an ideal and instinctive solution, Oddz hopes to make a good place in the hearts of the general public.
A Single Credo: Democratization
The fully on-chain platform will mainly offer options, futures or perpetual contracts, and futures. These derivatives are simply bets on the value that an underlying product will have at a later date. With these assets, profitability requires a solid theoretical foundation and adequate financial means. Oddz has nevertheless decided to democratize its approach through a series of innovations.
- Fractional transactions: The setup will allow users to transact in trading with the use of fractions or small amounts of currencies.
- Transparent calculation of premiums: Options trading embraces and works with the payment of “premium” and its calculation may seem ambiguous at times. Oddz is betting on change, backed by unparalleled transparency.
- Editor of personalized options: This noteworthy tool bids to inevitably personalize your option premiums according to your contributions.
- The integrated Oracle Oddz: In order to facilitate real-time information retrieval, the cohesive oracle facilitates procurement of precise and prompt data, promoting quick decision-making and fluidity of transactions.
The Means of Ambition
The Oddz tokens are the fuel of this mechanism. You can earn or buy them for staking, governance, or bond purposes. They are also subject to a series of enticements to attract liquidity providers to the protocol. Thanks to an augmented and controlled metric, they will allow the taking of massive positions while guaranteeing a very low slippage.
Thanks to the choice of BSC, economical and ascendable, the platform is powerfully scalable to allow the development of dApps. Oddz even offers you transaction fees, reducing costs to just commissions. The protocol is envisioned to be cross-chain and already announces full compatibility with Ethereum and Polkadot.
It is in fact through the crowdfunding of Polkastarter that Oddz completed its IPO. The private sale had previously raised some $2.6 trillion from the biggest crypto investment funds: NGCVentures and Woodstock topped the list.
