On the 17th of February, TAG community has a
Telegram AMA with ODDZ.
At the AMA, Aishwarya Shivakumar – Co-Founder, CEO of oddz finance and introduce and share many Interesting information about ODDZ.
– Place : https://t.me/TAGVietnam
– Time : 20h00 (UTC+7) February 17th, 2021 at https://t.me/TAGVietnam
– Airdrop : 200$
And here are the key takeaways of the AMA:
TAG: The AMA would be happened as follows
Segment 1: Greeting and Introduction.
Segment 2: Answer the closed questions from community (5 questions)
Segment 3: Live Q&A session (5 questions)
TAG: Yes, Let’s start with segment 1: Warm up
First, could you please introduce your team and ODDZ?
ODDZ: Myself Aishwarya and I worked for a few tech start ups in Bangalore, India as a Marketing and Product lead. Coming to my Crypto experience, I actually started with Stock market trading from my college days and this was around 4 years ago.
Later I met a few people who were actively trading on options and got introduced to crypto currencies and block chain technologies. In 2019 I started to explore more about options trading platforms and traded in most of the platforms.
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.
Now we have about 8 members in our team who are actively working on oddz full time
TAG : The next question of this segment is: What are the competitive advantages of ODDZ compared to other projects?
ODDZ: Some of 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 Options.
Here is the detailed explanation about Oddz features: https://medium.com/oddz-finance/exploring-on-chain-option-trading-through-oddz-unique-features-48a4cfed3fe8
Tag: Now please share with us some new upcoming events, as well as big partners ODDZ has been working with during its development period.
ODDz: We have more exciting news and partnerships anncouncements coming up, please do check Oddz channel https://t.me/oddz_finance. we will be soon lauching our app on testnet.
And now we will turn to segment 2: Answer the questions from community
First of all, I would like to say thank you to Tag’s members who have sent many questions about ODDZ to us.
TAG: The first question ODDZ promises zero gas fees on trades, this is currently an absolute necessity with what is being experienced with the ERC20 network. What strategies do you use within the project to provide this important quality? How do you facilitate trading for DeFi derivatives traders?
ODDZ: Currently gas fee is the biggest hurdle that is stopping more user adoption for DeFi users.
These options premiums are usually 10–15$ depending on the strategy and size that user selects. So we strongly believe enabling users to trade options without having to worry about gas fee will bring more adoption.
We will submit our smart contract requests to the relayer networks that will use native meta transactions for executing the transactions with minimal gas fee that Oddz will cover on behalf of our users. So technically user pays zero gas fee for the trades on Oddz platform.
Here is the detailed explanation of how Oddz execute zero gas fee https://medium.com/oddz-finance/oddz-protocol-introduces-zero-gas-fees-transactions-to-drive-widespread-defi-adoption-21eb7bae5e33
TAG : Thank you for providing such useful information!
Where is the ODDZ road map now? Are all targets in accordance with the current road map? and what are the next steps that will be taken in the future?
ODDZ: 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
TAG: The next question is: 3.What’s the main difference between your platform against the other option trading platform? You think what are the challenges that Oddz needs to overcome in the derivative market?
ODDZ: 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.
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 a 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.
TAG: The 4th question: User experience is a very important issue in most projects. Does ODDz Finance focus on this? What has ODDz Finance done to bring the best user experience, especially to new users?
If the recommended easy options don’t match what the user is looking for, we have an interface for users to select their desired strategy.
TAG: Here is The last question: So can I ask, in a crypto world full of Multi-chain option trading, why ODDZ FINANCE? Aren’t you convinced that other similar projects will do the job that needs doing?
ODDZ: Oddz is a World First On-Chain Option trading platform that was deployed on the Binance Smart Chain, Ethereum, and Polkadot striving to unleash its potential decentralized derivatives market.
As I mentioned earlier, we indentified some of
the problems in the existing trading platforms and we want to start by solving
them along with bringing Machine learning and data analysis into the play to
retain the users and make them spend a lot of time on our trading platform.
We dont want to be that platform where people come, trade and leave. Instead we want users to come spend time.
Now we turn to Segment 3: Live Q&A session (5 questions)
TAG: 1 How do you plan to spread awareness about your project in different countries/regions where English is not spoken well? Do you have local communities for them to let them better understand about your project? @Aishwarya_hs.
ODDZ: Yes, our main focus is to expand oddz in different countries. Along with english we also added chinese language in our website and we will add more languages if required to spread awareness and bring more users from different countries. Please join Oddz vietnam telegram channel https://t.me/OddzVietnam
TAG: 2 Q.Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?
ODDZ:We are non anonymous team. We are here to build a good product and we will be forever. so I assure there wont be any such plans .
TAG:3 What is the vision and mission of ODDZ ? What problems are you to solve? Do these problems remain unsolved with the existing public blockchains??? @Aishwarya_hs
ODDZ: 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 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.
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.
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.
TAG : 4 Tell us a little bit about security? Have you done an audit of the platform? Are the smart contracts error-free? What are the test results?
ODDZ:We are getting our token and protocol smart contracts audited
by at least two top auditors out there.
We wont release mainnet until we are satisfied with the audits. There will be a good rewards for hackers to try out on our testnet.
TAG: 5 What effect does ODDz have on the ODDZ Finance ecosystem? Holding ODDz, what benefits will users receive ?
ODDZ:The Oddz Protocol has its native token as $ODDZ, which is
designed to incentivize and promote the community’s active participation. The
$ODDZ tokens are a representation of power and are central to the incentive
structure and governance of the Oddz Protocol.
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.
Tag: Thanks so much for taking your time with very detail answers ! Hope that TAG would be the great partner in Vietnam. I believe that ODDZ will be hopeful project
ODDZ:Thank you hosting me in your wonderful community 🙂