Oddz Finance AMA Summary with Decentralized Club ✔️
Dear, Community,
Welcome to the recap of our AMA with Oddz Finance.
Our vibrant and enthusiastic community had a lot of questions to ask. To those who want to know quickly what Oddz Finance is about, we are sure this recap is gonna help you. So without further ado, continue reading 😉
✔️Introduction with Oddz Finance : 👉
BILLY:
Q1. Can you provide a brief introduction to the core team behind Oddz Finance? @Aishwarya_hs
Aishwarya Shivakumar:
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.
As a trader, I understood the pain points which restricts a lot of users from utilizing on-chain option trading platforms effortlessly which include — High gas fee, Dependency on Option Writers, Transparent Premium Calculation, Inadequate Liquidity and lot more, that’s when Oddz started along with my Co-founder who has 10+ years of experience in Web development and 2 years of experience in Blockchain space.
BILLY:
That’s great. Being at the user end you identified the genuine problems that needed attention!
Aishwarya Shivakumar:
Yes, as a user I identified lot of issues that can be solved
BILLY:
Q2. What does Oddz Finance offer that we should be excited about? @Aishwarya_hs
Aishwarya Shivakumar:
Innovation — We are planning to leverage layer 2 technologies along with Relayer networks to execute our options trades that would help our users to trade at a lowered gas fee. The protocol transaction fee that we collect from users, will be used to compensate the gas fee, to distribute rewards for staking users, and to hedge the liquidity providers for our AMM pool that eliminates the need for option writers.
Emphasis on both retail investors as well as institutional investors — Intuitive UI along with Easy options wizard should help users to buy option calls and puts within a matter of few clicks.
Future looking roadmap — We are well prepared to test our protocol on Polkadot and fully leverage the power of Polkadot and better the trading experience
The high degree of expansion — Options trading for new tokens can be added with just a click of a button, our inbuilt oracle IVR feeds for new tokens will help us achieve this. Marketplace for conditional tokens
BILLY:
So as far as I understand among all the problems Oddz Finance is solving the major is the high gas fees problem !
Aishwarya Shivakumar:
Yes, Imagine I brought 1 option for $10 and literally paid $20 of gas fee in existing platfoms.
thats a major issues most of the users are facing today.
BILLY:
Omg
Moving on !
Q3. Can you talk a bit about your customers and how they are gaining massively from your products and services ? @Aishwarya_hs
Aishwarya Shivakumar:
We havn’t launched our product yet, we will be soon launcing our App on testnet and later on mainnet. Our main focus is to provide user-friendly interface with required features.
BILLY:
Yes. Making something complex completely User friendly is really challenging
I appreciated you guys doing that for the users so that they can benefit from it 🙂
Aishwarya Shivakumar:
Yes, thank you:)
BILLY:
Q4. What is further planned for Oddz Finance in 2021 ?
Aishwarya Shivakumar:
Our main vision is to make Oddz Finance a one-stop solution for all derivatives.
Some of the roadmaps we planned for upcoming days include:
Conditional tokens:
Conditional Tokens are a new upcoming token class designed for the creation of highly liquid prediction markets. They enable the creation of options (or markets in this case) whose settlement is dependent on the outcomes for high-resolution information.
Leverage tokens:
A leveraged token is a financial derivative that enables you to gain exposure to a leveraged trading position in a digital asset without having to deal with margin trade, liquidation, collateral, funding rates.
Inbuilt Oracles:
Dependence on external oracles brings some of the grave issues that complicate the decentralized financial ecosystem, thus hampering seamless trading for platform users. Oddz is looking to create an inbuilt oracle within the protocol itself.
The goal is to research more on these topics in the coming months, invite suggestions from the community, and launch as soon as ready.
BILLY:
I can see that upcoming months will be extremely packed for you guys!
Aishwarya Shivakumar:
yes, we are so excited for upcoming months
BILLY:
I can see that !
So thanks a lot for your introduction of Oddz Finance.
🐧Community ask Questions by Twitter ✔️
BILLY:
Twitter question no 1.
Username : @semogaberkahXD
What does it offer to beginning users who don’t have much knowledge about oddz Finance ? Is there any informative material that can facilitate the use of the oddz Finance ?
Aishwarya Shivakumar:
Question:1. we are 3 types of targeted people. 1)who already has experience in option trading. 2)who know option trading but not trade regurlarly. 3)who dont have any idea about option trading. so we plan 3 diffrent strategy and create more number of educational content and bring lot of users to our platform.
BILLY:
Twitter question no 2.
Username : @nguyennhu2908
Do you plan to set up a telegram team or add languages to the website to solve language problems for other countries?
Aishwarya Shivakumar:
Question 2: We already added chinese langauge in our website. based on users requirement we keep adding diffrent languages and target global market.
BILLY:
Twitter question no 3.
Username : @hoavouuy
How can we distinguish the difference between ODDz and the rest of the projects? Why this better ?
Aishwarya Shivakumar:
QUESTION 3: The key features promoting DeFi users to utilize on-chain option trading platforms effortlessly includes :
1. Fraction trades
2. Transparent Premium Calculation
3. Zero gas fees
4. Adequate Liquidity
5. 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
🌍 Community ask question by Website 👨💻
BILLY:
Website question no 1.
From : Jesus Freites
Today’s decentralized financial options trading markets have gained further momentum. How will ODDZ unlock the enormous potential in blockchain options trading markets? What innovative tools will they provide their users with to have the best options in the market at hand?
Aishwarya Shivakumar:
Question 1: As I mentioned earlier, We have Identified lot of improvements or issues in today’s existing platform, we want to make sure we provide the best user experience with required features. some of the exciting features are Fraction trades
1. Transparent Premium Calculation
2. Zero gas fees
3. Adequate Liquidity
4. Customized Option Writers
BILLY:
Website question no 2.
From : Shihazemr
How is Oddz a trading platform? Is it worth our trust or not. And what is your long-term vision of the industry you\’re working in?
Aishwarya Shivakumar:
Question 2: Oddz is a trading platform as provide option trading service. As we are non- anonymous team you can trust us check our website https://oddz.fi/. Our long term vision is to make oddz one-stop solution for all the derivatives.
BILLY:
Website question no 3.
From : @Crypto_FannS
What is your strategy for global expansion? Currently, which market is your project focused on? Or do you focus on building and developing to get customers, users, and partners?
Aishwarya Shivakumar:
Question 3: As i mentioned earlier we are targeting Global market and planning a good strategy to reach maximun number of users. we are focusing to provide the best user experience and working on it.
✍️ Telegram live Questions answered by Oddz Finance ✔
Cyckorry:
How does Oddz plan to dominate the options trading market? How easy is it to use Oddz platform?
Aishwarya Shivakumar:
We have Identified lot of Improvements that can be brought from stock market to crypto market in terms of user experiene. We make sure to give the intituve interface and provide more educational videos and blogs.
🌷steven e_toy 🌷:
Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap?
Aishwarya Shivakumar:
We made very good progress in terms of protocol smart contracts in the last month of 2020 and announced Oddz finance on January 1st. Yes new year, new hopes, and a new beginning
We are close to submitting our protocol smart contracts for auditing
We made some strategic partnerships (details on this front will be shared soon)
We are closing the fundraising soon, details on this will be announced later this month
We made good progress in terms of Hiring as well
Coming to the roadmap, we are aiming to go live on test net in the next few weeks followed by the TGE and then mainnet within this quarter.
The more detailed roadmap we will share in our oddz telegram
https://t.me/oddz_finance
Cassanova:
ODDZ FINANCE has a token named $ ODDZ token. How do we get this $ ODDZ token? What are our advantages to holding this $ ODDZ token?
Aishwarya Shivakumar:
The $ODDZ token holders represent an integral part of the Oddz ecosystem, thus voting on various decisive moves and proposals for the protocol’s growth. Moreover, the primary motive of Dapps is to fuel the decentralization of authority; thus, the community holds a substantial bar in driving this.
Transaction fees: Platform users can employ an $ODDZ token to facilitate transactions in a seamless manner.
Staking: Users can stake $ODDZ tokens on the Oddz protocol in an attempt to earn higher yields, thus maximizing returns. Tech-savvy traders also employ various yield farming strategies to earn greater returns.
Governance: Users can strongly support or disregard protocol proposals through community votes depending on the rationality of the same.
Referral bonus: If the user extends the platform’s support by spreading the word, they are entitled to referral bonuses.
NISHAT SIKDER:
What is so exciting about Oddz Finance, which might make Oddz Finance different from all other projects out there?
ms. @Aishwarya_hs
Aishwarya Shivakumar:
Innovation — We are planning to leverage layer 2 technologies along with Relayer networks to execute our options trades that would help our users to trade at a lowered gas fee. The protocol transaction fee that we collect from users, will be used to compensate the gas fee, to distribute rewards for staking users, and to hedge the liquidity providers for our AMM pool that eliminates the need for option writers.
Emphasis on both retail investors as well as institutional investors — Intuitive UI along with Easy options wizard should help users to buy option calls and puts within a matter of few clicks.
Future looking roadmap — We are well prepared to test our protocol on Polkadot and fully leverage the power of Polkadot and better the trading experience
The high degree of expansion — Options trading for new tokens can be added with just a click of a button, our inbuilt oracle IVR feeds for new tokens will help us achieve this. Marketplace for conditional tokens
Mulan:
What is your top 3 things for priorities in 2021? Could you share some plans for the upcoming year?
Aishwarya Shivakumar:
1) Launching our app on testnet and later in mainnet. 2) Expanding oddz protocol to conditional and perpetual tokens and make oddz as one stop solution for all derivatives. 3) To built our own in-built Oracle dedicatedly for derivatives.