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oddz finance

How Oddz Is Making Defi Options Easily Accessible To All?

Options are an integral part of the traditional economy. They allow you to diversify your portfolio while limiting the risks and maximizing the returns. Thanks to DeFi, options are now more popular than ever in the crypto economy, too. DeFi simplifies options trading for inexperienced users and makes it feasible for investors with low initial capital. DeFi widens the scope of options.

Then again, the entry of options has been a game-changer for the DeFi industry too. You will find many options protocols in the market that are reinventing how options are understood and used. They motivate traditional investors to try their hands on DeFi and see what it has to offer. We take pride in being one of the key players in the DeFi options market. Despite the novelty of the asset, Oddz Options captured a wide user base a few months into entering the market.

In this article, we analyze what sets apart Oddz Options and how our latest update hones our competitive edge.

Why Oddz Options

Most investors have a hard time grasping the underlying concept of derivatives. As you go deeper, it gets even more difficult. There are different derivative assets and each of them can be again divided into an array of classes. Options are no different. For this reason, most investors take their time to get acquainted with these sophisticated tools.

With DeFi, the goal is to make the learning curve less demanding. However, most of the early projects in the options market failed to deliver this. DeFi in itself is intimidating with its hard-to-crack technical concepts. The poor UI of the websites worsened the hassle. Users have to go through multiple steps to trade options. There are limited resources to help them get on board. Apart from the technical barrier, the often stringent entry requirements were a challenge.

Oddz Options addresses these problems. We want to help more people understand how DeFi options can step up their crypto strategy.

The Ultimate Sophistication is Simplicity

We decided early in our product designing phase that simplicity would mark off our product in the market. It remains our key unique selling point. We believe that it is important to build a wide market not just for our platform, but also for the DeFi industry as a whole. Now, a simple product is not necessarily a plain product. Oddz Options is a feature-rich multichain platform that helps you unlock the opportunities of crypto options using advanced tools and resources. It allows the creation, maintenance, execution, and settlement of trustless option contracts in a fast, secure, and flexible manner.

And our latest update brings new features and functionalities, keeping in line with the new demands in the market.

For example, we introduced Deviation Based Pools where you can provide liquidity to pools with assets that have deviation. The term “deviation” here refers to the difference between the strike and the current price of an underlying asset. Oddz also launched a P2P (peer-to-peer) marketplace where you can buy and sell options at any desired amount. It allows you to place bids based on the asset’s strike price, quantity, and expiration date, as well as the amount you are ready to pay for that option. The goal is to give option sellers the opportunity to minimize their losing positions while also allowing buyers to get options at a lower price.

We made staking available on Options v1 where you could stake your ODDZ, oUSD, and ODDZ-BNB pair token to earn interest. However, with options v2, we have changed things a little and made them better. Stakers can now earn compound interest on their tokens without having to continually manage their deposits. We have automated the entire procedure for you.

We also introduced Strategies as a wrapper around liquidity pools to manage liquidity easily and measure user strategy decisions individually without the need for external bookkeeping. Although the idea is the same, the number of pools in Strategy can vary from one pool to a maximum of ten pools. Simply put, liquidity pool (Oddz v1) was where you provided liquidity to one single pool and strategy is where you can provide liquidity to a maximum of ten pools. Another key feature in Options V2 is auto-exercise. It allows a trader or investor who forgot to exercise their “in-the-money” options to have their positions settled by Oddz on their behalf.

Conclusion

With each new update, we aim to simplify the options trading experience for you. As we mentioned before, this is our key strategy for bringing more people to DeFi options. Evidently, it has worked. While the general DeFi market collapsed from $250B to $150B, DeFi protocols with unique visions and robust execution have been performing remarkably well — Oddz Options being one of them. Even in the bearish market, we continue to provide an industry-best APY of 14.2% on oUSD staking. This is made possible by setting aside a portion of the premium, transaction fees, and interest for incentivization.

So, if you are looking for exciting means of generating income, you know where to head.

Check out Oddz Options

About Oddz

Oddz is a trustless on-chain options trading platform that expedites the execution of call and put options contracts, conditional trades, and futures. It allows the creation, maintenance, execution, and settlement of trustless option contracts, conditional tokens agreements, and futures contracts in a fast, secure, and flexible manner.

It employs the synergies of Ethereum, Avalanche, Binance Smart Chain, Polkadot, and Polygon to unleash the potential of a decentralized options market. It focuses on building solutions that can propel the DeFi ecosystem by simplifying options trading and enhancing the user experience.

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oddz finance

oddz finance

Multi-chain Derivatives Trading Protocol built on Binance Smart Chain, Polkadot ,Polygon and Ethereum.