Oddz Finance, a crypto derivatives trading platform announced its mainnet launch on Avalanche, an open, programmable smart contracts platform for decentralized applications. This will aim to increase the adoption of derivatives trading on the network, massively aiding the users of the Avalanche network, it said in a press statement.
The Oddz Mainnet launch on Avalanche will see the release of the Oddz Options v2 version, which will include features such as option strategies, a secondary market, an auto exercise feature, the addition of more altcoins, deviation-based pools, and dynamic APY boosting features. All these features will be aimed at facilitating the growth of derivatives trading in the crypto space.
Derivatives in India have been an active market with National Stock Exchange being the largest derivatives exchange for the third consecutive year in 2021 by the number of contracts traded. In recent years, with decentralised finance garnering global interest, the derivatives market for cryptocurrencies have been thriving as well. A study by Carnegie Mellon University researchers estimates the traded volume in cryptocurrency derivatives to surpass $100 billion. With over 105 million Indians invested in the digital token space, providing seamless solutions that provide various traditional financial services are necessary to ensure the continued growth of the Indian crypto sector.
"Over the last few months, we've seen a lot of momentum on Avalanche," said Aishwarya Shivakumar, CEO of Oddz Finance. "Oddz is uniquely positioned to provide the best features that can benefit both the users and the ecosystem. It is also well-positioned to support many DEXs seeking more custom or sophisticated trading solutions beyond the more commonly available trading methods."
