OCTION announces blockchain-based platform that enables
SINGAPORE, September 08, 2021 (GLOBE NEWSWIRE) – OCTION launched a fully non-custodial and decentralized options trading platform that eliminates intermediary fees and allows full transparency of the entire transaction process and trade settlement.
Founded in 2019 by a team of Singaporeans who have a total of 7 different blockchain projects under their belt, OCTION seeks to address some of the limitations of options trading in the world of traditional finance vis-à-vis blockchain technology. :
- Because it is built on a blockchain, OCTION democratizes access to options trading. Even unbanked people can now get involved in options trading.
- OCTION makes it easy for new users to enter the options trading space, as the otherwise complex act of writing CALL / PUT options is simplified into a simple contribution of liquidity to a pool of OCTION writers.
- As it is fully decentralized, OCTION removes the need for an intermediary to execute trade settlements, as the entire process can now be done using smart contracts. This means that the transaction fees for each option contract can be as low as $ 0.25 as currency exchange fees, administration fees, withdrawal fees, and deposit fees can all be saved.
- Because it is decentralized, OCTION users will never face issues of unwanted intervention and disruption, a problem that is prevalent in the traditional financial space and that can have an unfair negative impact on merchant portfolios. .
- OCTION allows full transparency of all transaction details and the trade settlement process, as all can be viewed by anyone and everyone on the Block Explorer.
OCTION will also offer an insurance product called OCTION Positional Shield, which allows anyone who has taken out an options contract with OCTION to relinquish their position before the contract expires in exchange for a portion of the premium refunded, although let her be out of money.
OCTION also has a native token ($ OCTI) which offers its holders additional advantages:
- Writers can participate in the cash pool and earn bonuses on each option contract purchased.
- Buyers will benefit from premium discounts when purchasing options contracts and will also have free access to the OCTION positional shield.
- Holders of $ OCTI who wish to participate in the purchase and / or sale of contracts may instead choose to participate in a [settlement pool] (https://oction.io/settlement) to earn on premiums paid by options contract
As the world’s first CeDeFi options trading platform built on the Binance smart chain, OCTION represents transformative technology that firmly supports the financial freedom backed by the freedom that Bitcoin offers globally through voluntary participation. to a decentralized and unauthorized network.
For more information, please visit https://oction.io/home
Connect with OCTION on LinkedIn and Telegram
Press contact: [email protected]
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Image 1: Screenshot of the OCTION options trading platform
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Screenshot of the OCTION options trading platform