Introducing Oddz Options v2: Enabling More Utility and Flexibility
Oddz v2 is packed with amazing features that are assured to provide users with several benefits.
We are happy to present our Oddz options v2 features aimed to benefit Oddz users and traders. Options v2 is a game changer for us and the community since it is bundled with amazing features. So, without further ado, let’s go through each of them.
Snapshots
- Introduction to the secondary market
- Developed strategies for liquidity providers
- Enabling auto exercise feature
- Enabling options trading for more altcoins
- Introducing dynamic APY as boosters for our stakers
The first feature of our Oddz options v2 will be the introduction to the secondary markets where investors and traders may trade option contracts they currently possess with others. Here, the option contracts are not only traded with the platform but also outside the ecosystem (secondary markets). This allows all option types to be bought, sold, or exchanged outside of the ecosystem. Options that have been deemed secondary market-eligible can also be exercised. Even the expiration will occur as usual and all of this will be handled by the graph protocol aggregator.
This is only one side of the story in which option holders can sell outside of the Oddz ecosystem. We have, however, provided an extra functionality that will also allow option buyers to bid in the secondary market, offering more flexibility.
Moreover, Oddz is also enabling an extraordinary feature for our liquidity providers. We have devised various options strategies for our liquidity providers. These strategies will help traders to make right decisions while trading. All of the high-performing options strategies will be presented to the LPs up front, along with the possibility to shift liquidity from one strategy to another.
Also, option writers may now build their own strategies in the same way that option buyers do. We recognise that everyone’s risk-to-reward ratio is distinct, which is why we’re always exploring innovative ways to keep our platform users safe while also improving their earnings.
In addition, we are also providing auto exercise functions that will help consumers if they forget to exercise a ‘in the money’ option by doing it for them. This would be available just to Oddz stakers. Besides that, we will also enable options trading for other altcoins on several blockchains. Our internal IV setup with gVol will give us an advantage over our competition in this arena. We already have $1.5 million in locked liquidity in our protocol, which would be plenty for altcoins like Avalanche, BNB, Matic, and many others.
Oddz options v2 is going to be a game changer for our users. As a result of the new features, liquidity providers can also enjoy greater APYs, which brings us to the fifth benefit. Since users have to deal with the same APY across all the pools, we have introduced dynamic APY as the remedy. How does it work? If the liquidity pool for one day expiration of ethereum call is utilized 90%, all the LPs for this pool can enjoy higher yields compared to other pools whose utilization is less than 90%. In summary, the APY for oUSD stakers would be dynamic, with numerous multiplier boosters based on future use.
The long wait has come to an end. Our objective with Oddz options v2 is to benefit users and give them total decentralised freedom. The options v2 will not only focus on giving additional benefits, but will also keep the notion of DeFi alive. Users are our first focus, and we work hard to offer them with value. Oddz options v2 is only the start of many amazing things to come.
Stay tuned!
About Oddz
Oddz is a trustless on-chain derivatives 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, Binance Smart Chain, Polkadot, Polygon, Elrond Network and Chromia to unleash the potential of a decentralized derivatives market. It focuses on building solutions that can propel the DeFi ecosystem by simplifying derivatives trading and enhancing the user experience.
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