Oddz Finance: Newsletter — July Edition
BTC bouncing! ETH pumping! Merge coming! Oddz Loading-New Features & Products!
We’ve been hard at work building, and this month of July has been quite fruitful for us. We’ve made considerable progress in both adding new items to our enhanced roadmap and delivering the best we could on our current plan. Here’s a recap of everything we accomplished this month.
Decoding DOVs — DeFi Option Vaults
We walked over a basic Twitter thread on DOVs. It’s the latest trend/tech (I’m not sure whether the narrative is already dead) that has shown enormous potential in attracting users. In fact, option vaults are built into the majority of protocols listed under “options” on DeFiLlama. Certainly a DeFi revolution!
Simplifying Hedging with Oddz — An Exclusive Blog
We covered the topic “Why hedging with options is a great investment strategy?” in our exclusive blog. We discussed why it’s the best strategy and discipline in finance/crypto and how it’s possible to hedge with Oddz options. We covered a lot of ground!
Read more about it out here — Hedging with Oddz
Extending Options League Leaderboard Challenge
With rising user interest, we announced the continuation of our options league for four more weeks. However, we relaxed the conditions by lowering the minimum spending amount to $150 and the minimum number of options purchased to three.
The league is still active — Trade Now!
Introducing the Oddz Chain on Our Extended Roadmap
We announced the inclusion of Oddz Chain on the roadmap. Oddz chain will be a standalone blockchain based on Cosmos SDK and Tendermint consensus. It will facilitate cross-chain trading, especially derivative market trading.
1. On-chain orderbook
2. Matching engine
3. Native Automated Market Makers
Learn more — Oddz Chain
Social Trading — Explained
We discussed the basics of social trading. The Twitter thread discussed what social trading is, its benefits, and how to use it on Oddz. By far the most underappreciated/underutilized aspect of DeFi is social trading. Oddz is one of the few protocols to introduce social trading in DeFi and that too in the derivatives space.
Oddz x Frontier Integration
We announced the successful integration of Oddz DEX with Frontier wallet. Our easy options feature is now available on the Frontier Wallet App for traders. Furthermore, we had an AMA with Ravinder, the CEO of Frontier, and Shreedhar, the CTO of Oddz. The spaces explored the journey and future of this collaboration and gave a lot of potential alpha for users.
Learn more about the Integration — Easy options on Frontier
8% APY on $USDC Deposits
Oddz strategies are yielding upto 8% APY on $USDC deposits. Stablecoin yields are almost zero in this bear market, but Oddz offering such returns is something degens are losing out on. You may still earn up to 8% APY on your $USDC and further boost it by staking the LP $oUSD tokens in our $oUSD staking pool (up to 16% APY).
Here’s a guide for you — High APY for Degens
830+ Options Bought — And Running
The total number of options purchased on the Oddz — Avalanche network has surpassed 830. We’re thrilled to see numbers rising despite the current bear market in which DeFi activity has been at its lowest. Thanks to the community and users for their ongoing support. We are looking forward to giving our best!
Oddz is a trustless on-chain options 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, and Polygon to unleash the potential of a decentralized options market. It focuses on building solutions that can propel the DeFi ecosystem by simplifying options trading and enhancing the user experience.