Oddz Finance: Newsletter
January 2022
2022 began with a slew of exciting events for us. The testnet launch of Options v2 on Avalanche and the number of responses in the program was cosmic for us. Our team’s months of hard work leading up to the launch of this program has been inspiring to our whole ecosystem. Most importantly, the participation by our community and users has been overwhelming. Without further ado, let us look at what we achieved in January 2022.
January Highlights
- Increased Rewards for Stakers
- Oddz Update on reaching a huge milestone in just 3 Months
- Oddz First Anniversary
- Oddz Incentivised Testnet on Avalanche
- Oddz Testnet on Avalanche — Day 1 Statistics
- Weekly Leaderboard Challenges
- Oddz Testnet on Avalanche — Week 1 Statistics
- Oddz Trading Competition on KuCoin
- Oddz Passes the Security Audit by Slowmist
- Oddz Testnet on Avalanche — Week 2 Statistics
- Explore Options Trading with Oddz DEX Integration
- Announcement of Oddz Series of Mainnet Launches
- Token Buy Back and Giveaway
- Oddz Incentivised Options v2 Testnet on Avalanche — END
Partnerships, Announcements and More!
Increased Rewards for Stakers
Keeping our community in mind, we announced the increase in staking rewards for our stakers.
We doubled the rewards to 20,000 tokens that were planned to be distributed daily.
The following structure was announced starting from January 1st 2022.
Oddz Staking pool — 10000 tokens/day
oUSD Staking pool — 7000 tokens/day
BNB-Oddz Staking pool — 3000 tokens/day
Oddz Update on reaching a huge milestone in just 3 Months
We also announced our goal of reaching new milestones in just three months. The following were the updates regarding our ecosystem.
Total Value Locked: $2M
Total Trading Volume: $8.3M
Total Premiums + Fees: $204K
Total Premiums: $190K
Net Revenues (Fees): $14K
Options Acquired: 1,661
Unique Buyers Addresses: 172
Oddz First Anniversary
We celebrated our first anniversary. From significant partnerships to essential listings, from BSC to Polkadot, Ethereum, Polygon and Avalanche, from a massive Community Distribution to astounding Token Buy Back, from Mainnets to the mystical Oddzverse, we have a long road travelled and thus we shared the joy with out community.
Oddz Incentivised Testnet on Avalanche
We officially launched our testnet on the Avalanche network. Activities like airdrops, bug bounties, and leaderboard challenges with massive rewards upto $30,000 . We also laid a guide that explained how things will work in the testnet to ease the trading experience of our users.
Oddz Testnet on Avalanche — Day 1 Statistics
We announced our Day 1 stats for the Avalanche testnet program. The following were the figures:
Participants: 10k+
Total Options Bought: 1813
AVAX Options: 696
BTC Options: 431
ETH Options: 686
Options Buyers: 604
Stakers: 1126
Liquidity Providers: 204
Transaction Fees Collected: $57,970
Premium Collected: $1,214,613
AVAX Volume: $34,254,959.31
BTC Volume: $ 58,077,338.0616
ETH volume: $18,319,042.35
Weekly Leaderboard Challenges
We also announced weekly leaderboard winners for a span of 3 weeks with their addresses and twitter handles. The top 20 were chosen every week and their details were shared through the announcements made by the team.
Oddz Testnet on Avalanche — Week 1 Statistics
We also announced our 1st week testnet stats along with the following figures:
Participants: 10k+
Total Options Bought: 8633
AVAX Options: 3759
BTC Options: 1750
ETH Options: 3124
Options Buyers: 2272
Stakers: 2640
Liquidity Providers: 370
Transaction Fees Collected: $1,27,996
Premium Collected: $5,041,596
AVAX Volume: $146,350,989
BTC Volume: $220,776,598
ETH volume: $104,768,260
Top Performing Pools:
1. Default Pool: $6,37,320
2. AVAX Put Pool: $1,47,008
3. BTC Put Pool: $84,722
Top Performing Strategies:
1. PnL = 16.23%
Pools with shares:
BTC Put 1 Day — 20%
AVAX Put 1 Day — 80%
2. PnL = 13.77%
Pools with shares:
AVAX Put 1 Day — 70%
ETH Put 1 Day — 30%
Oddz Trading Competition on KuCoin
Oddz trading competition on KuCoin was announced with rewards worth more than $40,000. The top traders and participants were eligible for the rewards. The program started on Jan 20, 10:00 (UTC) and concluded on Jan 27, 10:00 (UTC).
Oddz Passes the Security Audit by Slowmist
Oddz also passed the slomist audit for the Avalanche network integration. A detailed guide and the audit report was shared by us for the due diligence of the users.
Oddz Testnet on Avalanche — Week 2 Statistics
We announced our 2nd week testnet stats along with the following figures:
Participants: 10k+
Total Options Bought: 13744
AVAX Options: 5522
BTC Options: 2587
ETH Options: 5635
Options Buyers: 3415
Stakers: 3729
Liquidity Providers: 555
Transaction Fees Collected: $21,64,542
Premium Collected: $44,256,946
AVAX Volume: $1,252,271,834
BTC Volume: $273,032,275
ETH volume: $121,662,934
Top Performing Pools:
1. AVAX Call: $81,215
2. AVAX Call 7 days :$26,052
3. ETH Put: $17,323
Top Performing Strategies:
1. PnL = 230.10%
Pools:
BTC Put 1 Day ATM
AVAX PUT 1 Day
2. PnL = 201.40%
Pools:
AVAX Put 1 Day
ETH Call 1 Day
Explore Options Trading with Oddz DEX Integration
We also announced the Oddz DEX integration package. This move was aimed at motivating other DEXs to employ Oddz options trading UI into their ecosystem. Click to read.
Announcement of Oddz Series of Mainnet Launches
We also announced the debut of Avalanche, Polygon, and Arbitrum mainnets. This drew a great response from our community. Stay tuned for more!
Token Buy Back and Giveaway
In wake of our Avalanche testnet, we announced the buyback of Oddz token which will be distributed as staking rewards accordingly.
Oddz Incentivised Options v2 Testnet on Avalanche — END
Finally, we announced the conclusion of our Avalanche testnet program with joy and excitement. We saw AVAX trading volume exceeding $5.8 billion, with BTC and ETH volumes above $600 million.
A Message from Our CEO
‘2022 got off to a terrific start for us, with our Avalanche testnet attracting over 15,000 users from all around the world. The figures were massive, and they are all represented above. With all of this good thinking, we’d like to notify you that February will be the craziest month for us, with the launch of the Avalanche, Polygon, and Arbitrum mainnets for Oddz. We also have a lot more in the pipeline, and we’d just tease you with all of this. ’
Aishwarya Shivakumar Haroshivanahalli, Co-Founder and CEO, Oddz Finance
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, Avalanche, Binance Smart Chain, Polkadot, Polygon 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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