Advanced Risk Management For Assets Issued On Elrond Via The Oddz Decentralized Options Trading Platform
Advanced traders who get exposure to assets manage their risk by engaging in options trading. This includes getting the option to buy or sell an asset at a future point in time for a certain price or engaging in leveraged trading.
The cryptocurrency space has seen an increase in the amounts of capital traded and the amounts of institutional and sophisticated traders have been increasing, especially because blockchain technology can make this type of trading more efficient, transparent and decentralized.
We are excited to announce that options trading for assets issued on our mainnet as ESDT tokens will be possible via Oddz Finance!
“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.
Oddz Finance is building a multi-chain platform that will allow its users to engage in trading options, such as calls or puts and perpetual leverage, but also to earn by providing liquidity and receiving staking rewards.
Our collaboration will focus on integrating the Elrond blockchain into the Oddz platform, which will enable options trading for assets issued on our mainnet. Besides the high performance and low cost of Elrond, users stand to benefit from the Maiar security and simplicity, when used as a login option on the platform.
“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.
The collaboration is important for our ecosystem because it adds essential tools for traders that will enable them to engage more capital with Elrond assets and create a solid layer of liquidity that will provide development opportunities for projects building on our blockchain.
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.
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, Polkadot, and Elrond 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.