Oddz AMA Recap

11 Oct 202109:02

AMA

Oddz AMA Recap

Myko (CryptoDiffer)

Hello, everyone!😁

We are glad to meet here:

Aishwarya Shivakumar, Co-Founder, CEO

Aishwarya Shivakumar

Hey everyone, Thanks for having me here today

Myko (CryptoDiffer)

Thank you for your time)

Aishwarya Shivakumar

Hope all of you are doing well

Myko (CryptoDiffer)

Thanks)
we’ve prepared some introductory questions
let’s start with the introduction
Q1: Can you introduce yourself to our community?

Aishwarya Shivakumar

sure
Happy to introduce myself and tell you more about how oddz started.
I worked in a few tech startups as a product and marketing Lead in Bangalore. Coming to my experience in crypto, I was a very active trader in both the stock market and crypto market for the last 3 years,
In 2019 I started to explore more about options trading platforms and traded in most of the platforms.
In early 2020, I closely noticed the rise in volume in option and derivatives trading in cryptocurrencies and identified a lot of improvements that can be ported from the stock market to the crypto market in terms of user experience.
that’s when Oddz started along with my Co-founder who has 10+ years of experience in Web development and 3 years of experience in Blockchain space.
Done

Myko (CryptoDiffer)

Superb’
now lets talk about the project!
Q2: Can you introduce oddz to us?

Aishwarya Shivakumar

sure
Oddz is a Multi- chain derivatives trading platform that expedites the execution of call and put options contracts, Perpetual conditional trades, and futures.
It employs the synergies of Ethereum, Binance Smart Chain, polygon 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.
We employ machine learning, present market conditions on a specific day/week along with user's past history to recommend an easy options
That should enable a user without much experience in options trading to get used to it.
For advanced users, we have a customized options section where a high degree of customization is possible.
For people who don't want to spend the real money, there will be a virtual trade section.
We also have a social trading section where people can follow fellow traders on our platform and simply follow other's strategy.
Reason behind this gamification is to ensure we will have a high adoption rate and make options trading very much understandable and accessible 🙂
Done

Myko (CryptoDiffer)

Thanks
our final introductory question is
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?

Aishwarya Shivakumar

We made very good progress in terms of protocol smart contracts.
Our recent milestones: We have successfully completed the Oddz Incentivised Testnet program on BSC.
▪️Over 20,000+ participants💪
▪️Nearly $400 million worth of options traded🔥
▪️Staking rewards worth $6 million distributed during the program🚀
▪️Total 8329 options contracts purchased📈
▪️$25,000 worth gas fee saved ✅
https://bit.ly/3wPm1oH
We have successfully completed the Oddz Incentivised Testnet program on Polygon Network too.
Participants : 12,000+
option trading volume: $2,537,548,498
options bought: 13,601
options exercised: 2,130
options expired: 11,360
staking rewards distributed: 290k ODDZ
https://bit.ly/3h8qFcf
Oddz completes its auditing from two leading Security firm PeckShield and Slowmist.

📍Audit report by PeckShied,
Read here: https://bit.ly/3g4pUkf

📍Audit report by Slowmist
Read here: https://bit.ly/3AuGJfV
Our upcoming event: ODDZ MAINNET CARNIVAL 🔥

💰 Win Up To $50,000 worth $ODDZ tokens in Oddz Mainnet Carnival

After a year of planning and testnet launches, we are happy to announce the launch of Oddz Mainnet on Binance Smart Chain on September 13th, 2021! 🎇

🌟 Key Highlights🌟

🔹 Oddz Mainnet launch on Binance Smart Chain on September 13th, 2021.

🔹 Win Up To $5,700 every week during Oddz Mainnet Carnival

🔹 More details on Airdrop of $27,200 in $ODDZ tokens to be announced soon!

https://bit.ly/3yuDkMI
Done

Cryptodiffer Community

What is your long-term agenda that the Platform intends to achieve ? Can you provide a brief explanation of the $ODDZ token case and how it protrays the value that builOddz protocol is building ?

Aishwarya Shivakumar

Long-term vision is to be a Robinhood(american popular stock trading platform) for crypto currencies. We want to see ourselves being the platform for users to come and spend time through our educational content, various option interfaces., then move the focus on to conditional tokens, futures, and other derivatives, Basically Oddz should be one stop solution for all the derivatives.

Cryptodiffer Community

Hi! 💹

Can you please explain how Oddz manage to make the Gas Fee to Zero? Will Oddz be able to keep gas fees Zero or very low even when the market is very active?

@Aishwarya_hs

Aishwarya Shivakumar

As we are already aware of, transaction gas fee on Binance smart chain is way cheaper.especially with relayers, it becomes even cheaper
Like all the centralized exchanges, there will be a small protocol transaction fee that we collect from users when they trade. So we will use this protocol transaction fee to compensate the user's gas fee 🙂
Here is the detailed explanation: https://medium.com/oddz-finance/oddz-protocol-introduces-zero-gas-fees-transactions-to-drive-widespread-defi-adoption-21eb7bae5e33

Cryptodiffer Community

What are the benefits of holding Oddz tokens? Can holding $Oddz earn part of the platform revenue or is farming and staking the only way to make money?

Aishwarya Shivakumar

Sure. Similar to the way Amazon gives discounts for prime customers, we want to make sure users who trade regularly on Oddz platform will have a way to get discounts in the protocol transaction fee.
so the first use case is, Anyone who is trying to trade options with $ODDZ tokens, can get a discount in protocol transaction fee
For people who provide the Liquidity into our AMM pool, we need to reward them for staying in the pool for longer along with a profit sharing in the premium fee. So the second use case would be the staking rewards(LP's get oUSD when they provide Liquidity and if they Stake oUSD, they get $ODDZ)
Obviously, when building such a big protocol, needs to be governed by our own community so, governance is another utility for our $ODDZ token
on top of all these, most importantly, we want to be a oracle adaptor that provides derivatives data from multiple source across multiple chains
so people who wants to participate in curating the data from multiple reliable sources, needs to own $ODDZ tokens.
When we say a trading platform, definitely a reference bonus is something we must focus on. So reference bonus for referring users to provide liquidity onto our AMM pool as well as to trade on our platform, will get rewards in the form of $ODDZ.

Cryptodiffer Community

Tell us what most powerful powers and killer features ODDZ has to annihilate its rivals?

Aishwarya Shivakumar

The key features promoting DeFi users to utilize on-chain option trading platforms effortlessly includes :
Fraction trades
Transparent Premium Calculation
Zero gas fees
Adequate Liquidity
Customized Option Writers
Here is the detailed explanation about Oddz features: https://medium.com/oddz-finance/exploring-on-chain-option-trading-through-oddz-unique-features-48a4cfed3fe8

Cryptodiffer Community

💙💙💙What benefits will Oddz Academy have for users? What are the educational content you tv have prepared for users participating in Oddz Academy, is the program open to everyone?

Aishwarya Shivakumar

With the launch of Oddz Academy, Oddz Finance aims to make DeFi and Derivatives trading simple and easy for all.
📍Oddz Academy provides our community with tailor-made educational content catering newbies, amateurs and experts.
📍Our content will comprise of tutorials, guides and videos. https://bit.ly/3wj171u

Cryptodiffer Community

Knowing that The Oddz protocol is a decentralized gamified platform that gives players access to innovative financial solutions for easy performance of their on-chain option trades. Kindly explain the gamification to us and how it can be of advantage to users of your Platform ?

Aishwarya Shivakumar

We employ machine learning, present market conditions on a specific day/week along with user's past history to recommend an easy options
That should enable a user without much experience in options trading to get used to it
For advanced users, we have a customized options section where a high degree of customization is possible
For people who don't want to spend the real money, there will be a virtual trade section
We also have a social trading section where people can follow fellow traders on our platform and simply follow other's strategy
Reason behind this gamification is to ensure we will have a high adoption rate and make options trading very much understandable and accessible 🙂

Cryptodiffer Community

🌀🌀🌀Currently options trading market mostly got bad many reputation because lack of transparency and many bad broker that love to makes price manipulation, how Oddz Finance provide the transparency in the options trading platforms ?

Aishwarya Shivakumar

Generally any options premium is calculated by any of the popular mathematical model.
We use Black scholes model and there will be a provision for changing this price model to anything else such as binomial model.
Implied volatility for the underlying asset, Current price, Expiry and Strike price are the driving factors of this models. Since we use the same formula while the user is buying as well as selling/exercising the options, it will be highly transparent.
Done

Myko (CryptoDiffer)

Okie
thanks for the ama

Aishwarya Shivakumar

Thank you everyone

Aishwarya Shivakumar

It was great answering your questions.Do check out our channel for more information.

Website: https://oddz.fi/
Twitter: https://twitter.com/oddz_finance
Telegram Chats: https://t.me/oddz_finance
Telegram Announcements: https://t.me/oddz_fi_announcements
Lite paper: https://docsend.com/view/u8gpf6rtuhekhu4u
White paper : https://docsend.com/view/mefxr8h3ymzuhwqk
Medium: https://medium.com/oddz-finance