It is the first of its kind in the Binance ecosystem
Screenshot of OCTION’s options trading platform
SINGAPORE, Sept. 08, 2021 (GLOBE NEWSWIRE) — OCTION has launched a fully non-custodial and decentralized options trading platform that eliminates middlemen fees and allows for full transparency of the entire transaction and trade settlement process.
Founded in 2019 by a team of Singaporeans who have a total of 7 different blockchain projects under their belts, OCTION seeks to solve some of the limitations of options trading in the traditional finance world vis-à-vis blockchain technology:
- Because it is built on a blockchain, OCTION democratizes access to options trading. Even the unbanked can now get involved with 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 straightforward contribution of liquidity into an OCTION Writer’s Pool
- As it is fully decentralized, OCTION removes the need for a middleman to execute trade settlements, because the whole process can now be done using smart contracts. This means that the transaction fee for each option contract can be as low as 0.25 USD, as FX Fees, admin fees, withdrawal fees and deposit fees can all be saved.
- Because it is decentralized, OCTION users will never face issues of unwanted interventions and disruptions, a problem that is prevalent in the traditional finance space, and that may unfairly negatively impact traders’ portfolios.
- OCTION allows for full transparency of all transaction details, and of the trade settlement process, because all of these can be viewed by anyone and everyone on the block explorer.
OCTION will also offer an insurance product called the OCTION Positional Shield, that allows anyone who has bought an options contract with OCTION to give up their position before the expiry of the contract in return for a portion of the premium paid back, despite being out of the money.
OCTION also has a native token ($OCTI) that grants its holders additional benefits:
- Writers can stake in the liquidity pool and earn premiums from every options contract purchased.
- Buyers will receive discounts on premiums when buying options contracts and will also get free access to the OCTION Positional Shield.
- $OCTI holders who do want to participate in the buying and/or selling of contracts can instead choose to stake in a [settlement pool] (https://oction.io/settlement) to earn from the premiums paid per options contract
About OCTION
As the world’s first CeDeFi Options Trading Platform built on the Binance Smart Chain, OCTION represents a transformative technology that stands firmly in support of financial freedom backed by the liberty that Bitcoin provides globally through voluntary participation in a permissionless and decentralized network.
For more information, please visit https://oction.io/home
Connect with OCTION on LinkedIn and Telegram
Press Contact: inquiry@oction.io
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Image 1: Screenshot of OCTION’s options trading platform
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