The options platform aims to provide simplified derivatives trading for DeFi users who want a low-stress interface.
Against the Oddz
Oddz Finance is billed as the world’s first multi-chain options platform, catering for on-chain trustless derivatives trading on Binance Smart Chain, Polkadot, Polygon, Elrond, and Ethereum. Oddz Finance can be utilized to execute call and put options contracts, conditional trades, and futures, and aims to simplify the experience of trading derivatives.
The project is now gaining momentum with the launch of its incentivised public testnet program which is live on Binance Smart Chain. Participants in the testnet will be eligible for a special airdrop of $ODDZ tokens with further rewards available in the form of a bug bounty program and leaderboard challenge.
-Multi-chain options trading on Binance Smart Chain, Polkadot, Polygon, Elrond, and Ethereum
-Call and put options contracts, conditional trades, and futures
-Transparent premium calculations showing all relevant metrics
-Diversified option premiums support for multiple cryptocurrencies across various blockchains
-Intuitive, easy to use interface
-Community governance rights
-Zero gas fees making all transactions economical and viable
-Incentives and rewards including as a data curator and by staking Oddz tokens
What is Oddz Finance?
Oddz Finance is an on-chain trustless options trading platform which allows users to trade derivatives in a decentralized manner. Oddz Finance enables the creation, maintenance, execution, and settlement of trustless option contracts, conditional token agreements, and futures contracts in a fast, secure, and flexible manner. Although Oddz was initially deployed on Binance Smart Chain, the protocol has expanded to incorporate Polkadot and Ethereum. As part of the package of in-built features Oddz Finance also has its own oracle to help in retrieving real-time market data.
Incentivized Tesnet Program on BSC
Participants in the testnet program will be eligible for a share of $30,000 worth of ODDZ tokens. To be eligible users must have participated in the Leaderboard Challenge of the incentivised testnet, buying at least one options contract or adding the test USDC tokens to the liquidity pool on Oddz. The testnet launched on June 7th and is still open for users to participate. Participants must submit their feedback form by July 6th, with the feedback form address to later be shared in the Telegram announcements chat. The airdrop announcement will be made just a few days later on July 9th. Full terms and conditions can be found on the Oddz medium page.
The $ODDZ Token
The native token of the Oddz Finance ecosystem is $ODDZ which can either be earned on the platform itself or purchased at an exchange. The $ODDZ fulfils a number of use cases within the Oddz Finance ecosystem., which are listed below.
Staking: Users can stake the $ODDZ to potentially gain higher yields than would otherwise be possible.
Governance: The token also confers voting rights allowing the community to shape the future direction of the protocol.
Transactions: The $ODDZ token can be used to facilitate transactions.
Referral rewards: Users who refer friends and family will receive their bonuses in $ODDZ.
– Integration with Polkadot network
– Oddz oracle launch
– Oddz options on wallet dApps
– Conditional markets
– Perpetual markets
– Options trading platform for European options
With some governments cracking down on centralized derivatives platforms such as Bybit, including Japan and the UK, the team at Oddz Finance has picked a serendipitous moment to launch their tesnet. With customers from a number of geolocations locked out from centralized exchanges, there should be more than a few crypto traders shopping around for alternatives. If the team at Oddz Finance can persuade users that their platform has the right mix of benefits and features wrapped up in an easily navigable and intuitive design, then the options trading platform could be destined for big things in the future.
Source : bsc.news
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