OCTION’s Decentralized Options Trading Platform Will Launch in 5 Phases
The crypto market is down, but the OCTION team is striving even harder — the platform will be on track and launch in accordance to schedule, starting with it’s Phase 1 launch, which will allow users to connect their wallet on the OCTION website and gain access to its Web3 enabled interface. The interface will feature 3 key areas — a page for Holders (traders who are purchasing options contracts), a page for Token Owners (holders of $OCTI tokens) and a page for Writers (traders who are “taking on” all options contracts purchased by Holders).
Each of these pages will serve a unique purpose and more importantly, they will tie the entire OCTION ecosystem together as the platform is designed for collaboration between all 3 parties. Undoubtedly, this collaboration will also be trustless due to the usage of Blockchain technology. The UIUX was specifically designed by OCTION’s in-house UIUX expert to provide an easy-to-understand environment for new entrants to the OCTION ecosystem while at the same time, paving the way for reachable partnership integration with other trading platforms. The OCTION team aims to complete all 5 phases by the end of June 2021 but options will be tradeable after Phase 4. Phase 5 will be the programming and activation of the OCTION Positional Shield feature. This feature is an add-on and it is not essential for traders to start buying options contracts.
At the end of Phase 5, the basic product of the OCTION decentralized options platform will be completed and the team will proceed to work on improving each component of the ecosystem. More importantly, the OCTION team will also be exploring duplication of the OCTION platform onto other chains such as Polygon, Polkadot and/or Cardano, assuming that the latter 2 chains are ready when the time comes. Other chains such as Solana or Avalanche are currently under research to see cohesiveness and potential expansion.
In summary, while most of the market is sunk deep into a bearish mood, the OCTION team sees the bear market as a golden opportunity to develop our technology while the hot money is temporarily removed from the crypto market. After all, by the time the hot money returns, the OCTION platform will be able to welcome it with open arms!
As always, THANK YOU for your continued support, and stay tuned for more exciting news on OCTION!
- The OCTION Team
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.