Introducing Oddz 2.0 — Crypto Options Trading, As Simple As it Can Get
A closer look at our new application and the thoughts that went behind
The Oddz app, launched in 2020, opened the eyes of many crypto traders who were previously wary of derivatives to their beauty and power. On Oddz, you’re not just hedging your portfolio against market volatility.
With the right techniques, you’re taking advantage of it as well — regardless of where the market is headed. The application went on to prove that crypto volatility can be used to the favor of a portfolio, especially during the drawn-out winter that took the market down a wild cascade. Oddz wouldn’t have reached the masses without its excellent usability and accessibility that lowered the entry barriers to crypto derivatives trading.
But we think it’s time for Oddz 2.0.
Over the last years, we have added a long line-up of features and upgrades to the platform. The current application doesn’t provide space to fit them all in, without disrupting its flow. The clutter is overwhelming for a new user. Stepping into 2023, we have been working on refining the backend, frontend, and theme of the application to give users the best crypto derivatives trading experience in the market. The new version keeps in line with our principle to stay ahead of time.
Oddz 2.0: What Stays and What Goes
Here is a preview of Oddz 2.0 and the thoughts that went behind the new design.
Simple, Sophisticated & a Refreshing Look!
Oddz 2.0 features a new theme that is easy on the eyes. We revised the white and blue color scheme to maintain the brand identity of blue and black. The new color scheme is not only appealing, but it also reduces the stress associated with long hours spent in front of a screen.
The communication points now feel more organic and human.
Easy and Custom Options Now Combined!
We have combined Easy and Custom options under “Trading” to simplify user experience. While the features will continue to work as before, you may now directly buy option contracts from easy options as well as customize option contracts from a single screen.
To make things easier, we’ve introduced option chain specifying OTM and ITM options alongside a price chart section that highlights option premium and its relative change with low and high mentioned.
Strategies are now Vaults!
We have replaced Strategies with Vaults. Vaults are easier to understand and use, as compared to Strategies. You just need to choose a vault based on the asset basket, option selling strategy and your risk appetite. The Vault deposits will be used to make options markets on your chosen asset basket through writing (selling) short/medium term options contracts.
We have added multiple option selling strategies under Bullish, Sideways, and Bearish vault strategies. Some of the strategies include selling naked PUT/CALL contracts as well as the short straddle strategy.
Depositing into vaults will earn you option premium collected from writing options contracts. To deposit into the Oddz market maker vaults, select any vault and input the deposit amount and complete the transaction in your wallet. Upon a successful deposit, you will be prompted to stake the oUSD LP tokens in order to earn additional APY in the form of ODDZ tokens.
So, you earn vault APY (option premium) and extra APY for staking oUSD LP tokens.
Social Trading but for both Option Trading & Vaults!
Social trading is much more simplified and enhanced. Not only can you copy trade top option buyers, but you can also mirror top performing vaults. This upgrade is dedicated to all users who intend to improve their DeFi options skills. It allows you to mirror the strategies employed by our top participants and improve your profitability.
The feature will display the trading position and profitability of fellow community members. With a click, you can copy the strategy and employ it in your portfolio. The method saves time and helps you hone your portfolio over time.
Crypto Options Trading is Now Simpler
We can’t wait to show you how easy options trading can be — we’re super thrilled about the Oddz 2.0 launch. The new UX & UI and the refined features will help more users take their dive into crypto trading and manage their risks better. We’re eagerly awaiting your review of the new theme and features like community trading and vaults that will immensely help people looking to take advantage of the market volatility.
Oddz 2.0 will continue to evolve, keeping in line with our goal to simplify options trading for crypto users. We will keep you posted as we integrate more features and upgrades.
We couldn’t have done this without the passion and creativity of our team and the valuable feedback from our community. Thank you for joining our journey and believing in us. You inspire us to march ahead, revolutionizing DeFi.
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, Arbitrum, 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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