Aug 19, 2021
OCTION Completes Phases 2, 3 & 4 — Product Goes Live on Mainnet
First and foremost, the entire team at OCTION would like to say THANK YOU to everyone that has helped form the OCTION family. From our supporting community who have stood by us since April 9th 2021, to our tech team and partners who have helped us solve various roadblocks encountered over the course of the development period, to BSCPad who has helped us maneuver and navigate through this entire journey thus far, we would not have been able to accomplish this without your unwavering support. For that, we are forever grateful.
Over the past few months, the OCTION team has been working tirelessly to develop the world’s first CeDeFi options trading platform. Although the road has been long and we have encountered many problems to-date, we are excited to to say that all these issues and bugs have been ironed out and we are now ready for launch!
The Wait is Finally Over
In the next few days, our entire platform will be live on the mainnet. Users will now be able to trade Call and Put options contracts on the OCTION platform. The hype and excitement over the past few months has finally blossomed into the successful development of this platform on Binance Smart Chain. However, this launch will still be classified as Phase 4. The final piece of the puzzle will be Phase 5, where we will be looking to launch the OCTION Positional Shield which is essentially an insurance function incorporated into options contracts and also the building of the discount/governance utility of the OCTI token. This is currently under development and will be completed in the next 2 months.
Despite the launch, the platform is far from complete, and can be considered as a baby in terms of product sophistication — therefore, we do seek your kind understanding in advance as we take in your feedback and work towards bettering the platform wherever possible. In the meantime, user patience is immensely appreciated.
The Road Ahead
Over the next few weeks, the OCTION team will be looking to expand on the available asset classes and coin options to further enhance choices users will have when looking to trade options. Firstly, we will be looking to add additional alt coins such as CAKE, XRP, TRX, BAKE and SOL, where users will be able to trade options on these coins. Users will also be able to experience cross-staking, as we aim to integrate a comprehensive staking pool mechanism (which we will discuss further on in the next article). We will also be looking to expand and include other asset classes such as Stocks and Forex pairings. The offering of TradFi (Traditional Finance) instruments is also expected to attract TradFi investors and forms a crucial part of OCTION’s strategy to attract mainstream investors.
To get a closer look at our complete tech roadmap post mainnet, you can visit this link: https://octionofficial.medium.com/moving-forward-what-will-be-next-for-oction-after-launch-eb1c6e150c0d
The above link will give viewers a more complete view of the entire OCTION roadmap post listing. However the gist of the roadmap is this — the BSC version of the OCTION platform is only the beginning; OCTION will duplicate the same platform to Polygon, Polkadot, Cardano and Solana as our mid term goal. In addition, we will be looking to increase asset types and trading currency types, very soon traders will be able to buy options with CAKE as well.
Through this period, further minor tweaks and adjustments to the UI/UX component will also be carried out to enhance visuals and the smoothness of the platform. On the exposure front, we will also be heavily focused on marketing and partnerships, with an intense marketing drive planned to further grow userbase as well and increase reputational recognition. Through this, OCTION aims to also be the go-to platform for new projects to partner with.
Some of the marketing maneuvers would include:
- Getting influencers to review the platform on YouTube
- Doing Cross-AMAs with other projects
- Strategic Partnerships with other projects/
- Release of news across multiple publications
- Twitter campaigns
- TikTok short awareness videos
In terms of PR coverage, OCTION is also expected to get more PR coverage from renowned PR firms on the news of OCTION going onto mainnet. More will be released on this very soon as we unveil our PR partners.
Last but not least, OCTION has plans to further expand our use-case onto other blockchains such as Polygon (MATIC), Solana (SOL), Polkadot (DOT) and Ethereum (ETH). A common concern when exploring this would be the ability to transfer the OCTI token from Blockchain A to B. However, we will be developing an in-house bridge to cater for OCTION’s expansions onto the various blockchains. This would enhance OCTION’s reputation within various Blockchain communities and help garner additional users, solidifying OCTION’s brand name as the go-to CeDeFi options trading platform worldwide. Most importantly, it would bolster OCTION’s interoperability as a platform.
Thank You
As always, THANK YOU for your continued support, and stay tuned for more exciting news on OCTION!
- The OCTION Team
About OCTION
OCTION is the world’s 1st CeDeFi Options Trading Platform built on the Binance Smart Chain. Users will be able to trade options through CeDeFi, with no middlemen, no centralized organization, lower fees, more option types and zero data or market manipulation. OCTION allows for options trading through a democratic framework on the Blockchain, specifically the Binance Smart Chain.
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