Why DeFi Needs Innovation?
DeFi growth is on a decline!
The total value locked in DeFi has plummeted from an all-time high of $253B in Dec 2021 to $208B in April 2022. While opponents find delight in the downturn by depicting it as a burst, apostles deny this. However, DeFi front-runners know it better. Despite this stagnant DeFi movement, innovative projects have been performing remarkably well. For example, at Oddz, we’ve been incorporating innovative features into our options product. Furthermore, we have been working nonstop to bring in a new product along with something unique attached to it (More about it some other day).
Simply said, DeFi stagnation hasn’t affected projects with innovative operating models. In fact, these projects are only reshaping DeFi to make it the future of finance.
DeFi Can Reshape the Future of Finance
Financial services are largely inaccessible to people living in the peripheries. It could be loans, insurance, or something as simple as investments. The traditional financial system sieves out the poor and the unprivileged, further widening economic inequality. However, DeFi is solving this with the help of blockchain technology. The underlying transparent, trustless nature of blockchain is throwing middlemen and centralized institutions out of the picture, making it largely immune to red tape and unyielding regulations.
While many worry that DeFi is soon going to kill banks along with other TradFi institutions, both can co-exist and grow together, unlocking the massive potential of blockchain infrastructures. DeFi can help enhance due diligence and bring down the incidents of scams, defaults, and other fraudulent activities prevalent in traditional finance. As DeFi transactions are recorded on an immutable blockchain, both service providers and customers are motivated to stick to their part of the obligations. This way, DeFi nurtures inclusivity, and in turn, financial freedom for all.
How Oddz is Pioneering DeFi Innovation?
Oddz is one of the pioneers in multi-chain DeFi derivatives. We wanted to bring more users into the blockchain-powered financial market by offering faster, cheaper, and more lucrative alternatives. We were positive that crypto options, although relatively unheard of among general users then, could do the trick. The fact that options are dreaded, even among traditional investors, was a challenge.
To set apart the product, we focused on usability and flexibility. Rather than cramming in underdeveloped functionalities that can only make a user’s journey more complex, we designed it in a way that is feasible for all, regardless of their technical know-how. Initially, we launched on BSC (now BNB Chain). Over time, we expanded the compatibility to the Avalanche network. Moreover, we are one of the few who have introduced a wide range of altcoin options with added flexibility.
Furthermore, Oddz recently launched Oddz Options v2 packed with amazing features. It gives an introduction to the secondary market where investors and traders can trade options contracts. Not just within the Oddz ecosystem, but in secondary markets as well. The new version offers various options strategies for liquidity providers that help them make the right decision, along with the option to shift liquidity from one strategy to another. What’s more? Auto exercise of ‘in the money’ option, more altcoin listings, and deviation based pools. Ultimately, our intention is to give users total decentralized freedom and extend the focus beyond financial benefits to nurture the growth of DeFi.
Keeping DeFi Innovation Alive
Like all industries, only innovation can keep DeFi alive. The industry needs solutions to new problems and not solutions fixing the same problems. We need products that lower the industry’s barrier to entry and help users find real value in the industry. And, projects like Oddz are making this a reality by persistently pushing the limits of blockchain technology.
Ultimately, DeFi is here to stay, and Oddz is making sure it’s worth the journey.
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, and 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.