Sparrow Options Public Demo is Live
After many months of hard work, we are proud to share our first public demo of Sparrow Exchange.
We built this demo to give our community a taste of how something that is complex like options can be made simpler for anyone. We created a platform that aims to be inclusive and easy to use, whether you are new to options, or a professional who wants a simpler way to control risk.
We worked hard with our design partners at Gleeger to create an interface that is intuitive and can be adapted for a much smaller screen such as a smartphone in future. At the moment we have optimized the experience for a desktop browser platform. We hope you enjoy our demo, and give us your feedback so we can continuously improve our user experience and serve your risk control needs.
Feedback Email: firstname.lastname@example.org
Features in demo
- LIVE aggregated price data
Good data is necessary to make good trades.
- Instant Premium
LIVE API to calculate your premium instantly based on your customized trade.
- Customization Panel
Set up your option just the way you want it. Easily switch between buying an option (TradePROTECT) and selling an option (TradeBOOST).
- Visual Strike
Set your strike price by clicking directly on the chart.
If you set a strike price above the market price, you’re creating a call option. If you pick a price below the market price, you’re creating a put option.
Sounds complicated? Let’s simplify.
Up — for upside risk.
Down — for downside risk.
- Trade History
Check your Transaction History, Open Positions or Processing orders easily. We’ve even added a countdown clock to help you keep track of your expiring positions.
- Trade Review
Have you ever asked yourself “why did I make that trade?”
We save a snapshot of market conditions at the time of the trade to help you remember why you made that decision.
- SparrowChain testnet
- SparrowChain Block Explorer
- User Registration with native KYC/AML/CFT integration
- Two Factor Authentication (2FA) Support
- Custodian Wallets (Deposit & Withdrawal support)
- User Account Management Dashboard
Frequently asked questions
What is TradePROTECT?
TradePROTECT is what we call buying an “out-the-money, European, covered option”. This means the buyer pays a non-refundable premium to obtain the right (not an obligation) to trade a particular digital asset at the end of a specified period for a specified strike price. As TradePROTECT is a covered option, this means there is no counterparty risk. It is the ideal instrument to protect digital assets against adverse market conditions.
TLDR: You pay premium, you buy a right to trade.
What is TradeBOOST?
TradeBOOST is what we call selling an “out-the-money, European, covered option”. This means the seller collects a non-refundable premium in return for selling the right (not an obligation) to trade a particular digital asset at the end of a specified period for a specified strike price. As TradeBOOST is a covered option, this means the seller would need to pledge 100% of the underlying digital asset. It is the ideal instrument to monetize digital assets when the market is quiet or if you have a longer-term view with short-term expenses to fulfill.
TLDR: You collect premium, you sell a right to trade.
Why do you need to call it TradePROTECT and TradeBOOST? Why can’t you just call it buying an option and selling an option?
Two reasons for this naming scheme:
- Non-professional users got extremely confused between buying/selling the option versus the right to buy/sell the underlying assets.
- We found out that “out-the-money, European, covered option” doesn’t quite fit into a user-interface easily.
About Sparrow Exchange
Sparrow Exchange is the world’s first peer-to-peer options platform. It offers fully customizable options on cryptocurrencies with no counterparty risk in an easy-to-use interface.
Telegram Announcement: https://t.me/sparrow_ann