Oddz Finance: Newsletter

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oddz finance

5 min readFeb 2, 2022

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

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.

Oddz Finance: Newsletter

Written by oddz finance