Oddz Finance: Newsletter

April 2021

oddz finance

Published in

oddz finance

6 min readMay 3, 2021

Welcome to our first newsletter!

For those new to Oddz Finance, here is a brief introduction to what Oddz Finance is and why we created Oddz!

The existing DeFi derivative solutions have portrayed a massive demand for trading financial contracts, and the DeFi industry has witnessed a gigantic rally involving the surge in trading and executing on-chain derivatives agreements.

With over 80% of the traded on-chain derivative instruments constituting options this space has gained considerable traction in trading conditional tokens and futures contracts. There are several DeFi projects that already cater to the users’ needs in the trustless derivatives markets but lack optimal products that fit the user needs in totality.

The absence of specific features resulted in barring users from unleashing the true potential of DeFi. In addition to the high transaction costs on the Ethereum blockchain to low latency due to network congestion, multiple concerns have hampered the mainstream adoption of on-chain option trading agreements. This compelled us to enter this space and develop Oddz — a multi-chain options trading platform that will allow both beginners and experienced options traders to execute the call and put options contracts, conditional trades, and futures, on a single platform. Oddz Finance focuses on building solutions that can propel the DeFi ecosystem by simplifying derivatives trading and enhancing the user experience.

As more and more big players in the blockchain space started resonating with our vision, Oddz Finance was able to collect $2.6 million in its seed and private rounds, from industry leaders like Woodstock Fund, AU21 Capital, GBV Capital, Krypital Group, X21, Amesten Capital, NGC Capital, EX Network, Altonomy, Lotus Capital, Lumen Capital, Maha DAO, DAO Ventures, Fire Protocol and more.

April Highlights

Partnerships and Announcements

The month of April saw Oddz Finance announcing multiple Liquidity Provider (LP) programs and partnerships with leading blockchain projects in the DeFi ecosystem.

Introducing Oddz on Binance Smart Chain — BEP20

Remember we mentioned that we wanted to make DeFi accessible to all? We took our first step towards multi-chain interoperability by creating a bridge between ERC20 and BEP20. Bringing Oddz on the Binance Smart Chain (BSC) would help all users of Oddz Finance to get exposed to collaborate with different players, considering the low transaction cost, ease of use and lack of latency issues in the BSC ecosystem. To know more about our Token Utilities, do check this blog.

ODDZ Staking Rewards Program on PancakeSwap Syrup Pool

Our first partners on the Binance Smart Chain is PancakeSwap. Users could stake CAKE to earn ODDZ tokens! The duration of this Syrup Pool is 60 days and will end on June 5, 2021, at 3 pm (SGT). In addition to earning ODDZ tokens, users of PancakeSwap can also stake ODDZ BEP20 tokens to earn CAKE as rewards!

Oddz forms a Strategic Partnership with Dafi Protocol to introduce a New Staking Model using Synthetics

Our partnership with Dafi means that we can now create a better and more sustainable staking model for ODDZ tokens. The partnership would help us to use Dafi’s synthetic token protocol for creating a new staking model that would benefit $ODDZ holders.

Oddz Partnered with Biconomy to Provide Zero Gas Fee Model to Users

One of the main reasons why many people have not been able to use DeFi is because of the high gas fees charged on Ethereum. Our collaboration with Biconomy ensures that our users would not have to pay gas fees for any transaction!

Oddz Integrates Chainlink’s Implied Volatility Data Feeds

One of the most significant partnerships, that also got featured by several media outlets, including CoinGape, is that with Chainlink. We now use Chainlink’s Implied Volatility Data Feeds for all the options contract on our platform. This partnership is very important as the contracts created on Oddz Finance need to be tamper-proof, dynamic and resistant from all sorts of manipulation.

Oddz Partnered With UniLend Finance to Provide Flash Loan Functionality for $ODDZ Tokens

We also partnered with UniLend Finance to provide Flash Loan functionality for ODDZ tokens which included airdropping 40,000 ODDZ tokens among LPs on UniLend Finance. These tokens were more than $100,000 at the time of announcement.

Oddz Finance Partnered With Raze Network to Promote Privacy on DeFi

The strategic partnership between Oddz Finance and Raze Network has been formed to help devise ways in which the personal information of the traders can be protected. Both protocols will be collaborating in the future to work towards the common goal of information protection.

Options Trading on Oddz Finance

Trading in options requires people to first predict the market direction and once they do that, they need to use multiple strategies to hedge their risks or speculate to make money in different markets.

Options trading is not as easy as it seemed to be, but Oddz Finance will soon change the way we look at options trading!

The month of April also saw the announcement of Easy Options — a simple user interface designed in such a way that traders do not need to understand any complicated jargons of Options Trading. We also announce Customised Options for the experts who can use their tried and tested strategies to maximize their profits — with an added advantage of paying extremely low transaction fees. Please note that the most important benefit of trading options on Oddz Finance is that you do not need an options writer who will sell the contract to you!

Events and Community

Adding to the announcements and partnerships, we also saw huge turnouts during the Weekly Prediction Competitions conducted every week. Winners every week would receive $50 worth of ODDZ tokens for predicting the closest price of the underlying asset on a given date and time.

Our Co-Founders, Aishwarya Shivakumar Haroshivanahalli and Shreedhar K Shreenivasa also joined AMAs (Ask Me Anything) of AscendEX and UniLend Finance to interact with their community and users and also to explain to everyone how Oddz Finance aims to help in DeFi mass adoption.

Listings

Oddz Finance got listed on AscendEX (Formerly BitMax) under the trading pair of ODDZ/USDT. This listing was also accompanied by a reward worth 15,000 USDT.

You can now exchange ODDZ tokens on PancakeSwap, Bilaxy, Hoo and AscendEX.

Message from the CEO:

I would like to thank the community for constantly showing faith in Oddz. The journey in the coming months looks very exciting. We will be partnering with Layer 2 blockchains and DeFi protocols along with launching several competitions for our community members.
Make sure you follow us on all our social media handles. We will soon be launching our Incentivised Testnet and Bug Bounty program with lots of prizes to be won!
Aishwarya Shivakumar Haroshivanahalli, Co-Founder and CEO, Oddz Finance

Hope you enjoyed reading about us!

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