Oddz Finance: Investor Spotlight with Woodstock Fund
Woodstock Fund is a leading multi-chain investment firm investing in early distributed ledger technology startups and companies. It is striving towards value creation with an investment focus in DLT, DeFi, Web 3 protocols and Tokenization. It is backed by a strong team and core values of openness, integrity & contribution towards the ecosystem.
Here’s a brief interview with Woodstock Fund
1. Why did you invest in Oddz Finance?
As the crypto industry expands, more and more functionalities from the centralized world are flowing into the blockchain ecosystem. The crypto-derivatives space is booming, and we witnessed a volume of US$ 2.89 trillion flow through these financial instruments in Jan-2021, more than the spot trading volumes of US$ 2.34 trillion. However, the space is still in its nascent stages and there are plenty of opportunities to capitalize on the growing interest in crypto-derivatives, which is why we are excited to back Oddz.
Strong Founders
Aishwarya has been an options trader for over 3 years and has identified gaps between traditional and crypto options trading experiences. We are confident that she will be able to shape Oddz into the perfect platform for traders.
Shreedhar carries 9+ years of developer experience and he was working at Uber’s San Francisco office before starting Oddz. He has also worked with industry leaders like Flipkart, Practo, Clear Trip, and his product-building skills are an invaluable addition to the Oddz team.
Early Mover Advantage
The crypto-derivatives space is still new and there are very few projects building a platform that is multi-chain and decentralized
By leveraging their experience, the Oddz team can capture a substantial market share as this space grows
Solid Roadmap
Traders use multiple financial instruments to deploy their investment strategies. Starting with crypto-options, Oddz will offer different products like leveraged tokens, perpetuals, and conditional tokens. They aim to become a ‘one-stop-shop’ for decentralized derivatives trading and have aligned their roadmap with this vision
2. In order to fuel DeFi adoption, what issues need to be addressed in the derivatives space?
Derivatives need to cover assets beyond BTC, in order to support the entire DeFi ecosystem. Furthermore, transparent pricing will be an important component for derivatives, which in turn will depend on robust data sources.
Non-custodial services will give traders full ownership of their assets and having multiple financial instruments in one platform will allow them to deploy complex trading and risk management strategies.
3. What are the three aspects to be addressed to fuel DeFi adoption?
The three aspects that need to be considered for fueling DeFi adoption:
Affordable transaction fees and quick confirmations
Easy cross-chain transactions and asset transfers
Digital/on-chain ID to tackle KYC
4. What kind of value does your fund bring to the founding teams on the strategic front?
From the due diligence process itself, the team at Woodstock Fund works to identify the value additions we can bring to a project. We start with an exhaustive due diligence process which helps projects clear out any thought bottlenecks or problem areas in their project. Once the project is a part of our portfolio, we actively make connections for them within our ecosystem of portfolio companies, investors, PR professionals. We also help them with their hiring requirements and developer access from some of the top institutes in India.
5. What is the investment mantra that you adhere to?
At Woodstock Fund, we seek out strong teams, solving challenging problems. We explore the business use case for the projects and have an extensive technical due diligence process. We look at 4 Ts in our evaluation process — Team, Technology, Traction, and Timing.
About Oddz Finance
Oddz Protocol is a trustless On-Chain Option 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, and Polkadot to unleash the potential 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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