Oddz partners with Elrond
Building the first Options trading platform on the Internet Scale blockchain
Adding another feather to its cap, Oddz integrates with Elrond — A highly scalable, fast, and secure blockchain platform for distributed apps, enterprise use cases and the new internet economy, taking its unique options trading experience to a whole new level.
This integration will enable us to add Elrond to our multichain network that includes major blockchains such as Ethereum, Polkadot, Polygon and Binance Smart Chain, enabling the expansion of Oddz finance’s abilities in the multi-chain space.
It gives us immense pleasure to share with our community that Oddz will be the first decentralized options trading platform to have integrated Elrond network into its product. This will surely give us an early mover advantage in the opportunity space created by the highly efficient and secure ecosystem developed by Elrond network.
Message from the CEO
“The Elrond DeFi ecosystem seems prepared for take-off because of the imminent launch of their Maiar decentralized exchange. We are looking forward to complementing the regular trading activities happening there with our own options trading, which will provide Elrond asset owners with a complete set of advanced trading tools” said Aishwarya Shivakumar Haroshivanahalli, Oddz Finance (Founder and CEO).
Key Advantages of building on Elrond
- Adaptive state sharding : An optimal approach to blockchain sharding that takes into consideration the advantages from all three sharding types such as State, transactions and network. Thereby, improving communication inside the shards and increasing the performance exponentially.
- Secure Proof of stake : A robust consensus mechanism deployed by Elrond network. Compared to Ethereum, Elrond eliminates both energy and computational waste from PoW algorithms, by implementing a Secure proof of stake consensus, while enabling transaction parallelism via Adaptive state sharding.
- EVM : The Elrond Virtual Machine is a dedicated smart contract execution engine built on WASM. It expands the family of languages available to smart contract developers to include Rust, C/C++, C#, Typescript. This means you can write smart contracts in whichever language you’re familiar with, compile it with WASM and easily debug its WAT human readable format.
- Maiar Wallet : Maiar is a completely decentralized and a non-custodial digital wallet and global payments app that allows its users to exchange and securely store money on your mobile phone.
Message from the CEO
“Advanced trading options will allow market actors to better hedge against risk and thus commit more capital, which in turn generates more liquidity and trading volume, creating a solid base for assets to develop and create value for their respective projects and their supporters. Platforms such as Oddz Finance can help create this kind of environment, which is essential for the growth of the Elrond ecosystem.” said Beniamin Mincu, (Elrond CEO).
Key Highlights
- This collaboration will focus on the deployment of Oddz platform on Elrond, which will enable options trading for assets supported on Elrond mainnet network.
- Elrond network brings highly efficient blockchain advantages for the users. Additionally, Users will benefit from the security and simplicity provided by Maiar — one of the most efficient, secure and easy to use wallets powered by Elrond blockchain, when used as a login option on the platform.
- This collaboration will yield a solid layer of liquidity for the users , allowing them to engage more capital with Elrond assets thus enhancing the overall experience.
About Elrond
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
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About Oddz
Oddz Finance 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.
Website | Telegram Chat | Telegram Announcements | Twitter | Instagram
