To make decentralized markets more accessible to everyday traders and investors, Oction is preparing to launch its decentralized options platform. The initial DEX offering will be hosted exclusively on BSCPad, the first decentralized IDO platform for the Binance Smart Chain network. With BSCPad’s impressive track record and support for innovative new projects launching within the Binance ecosystem, the launch will serve both communities well. As the first decentralized options trading platform available on BSC, Oction will introduce new trading and investment opportunities to the BSC community.
Following Oction’s token release and network launch, BSC users will gain access to an entirely new class of decentralized derivatives. Users will be able to trade and execute American- and European-style options against Binance Coin (BNB), Bitcoin (BTC), Ether (ETH) and other tokens available within the BSC ecosystem.
Oction’s options market will be powered by Binance-based stablecoins bDai and bUSD as a single liquidity pool. This will enable market makers trading on the platform to earn extremely low-risk passive income in the form of transaction fees. For added user safety, the AMM liquidity pool is fully insured with an integrated risk coverage policy.
Using BSC, Oction will be able to offer extremely cost-effective and fast transactions when giving it a major competitive advantage over existing options platforms. Due to unsustainably high fees on other blockchain networks, smaller investors and users have been excluded from taking part in this market. Oction is changing this, making decentralized options available to everyone.
Oction will offer decentralized options trading to a growing base of Binance Smart Chain users. From complete beginners to advanced traders, anyone can now utilize options to preserve their wealth and hedge against risk, making Oction a vital tool for all short- and long-term traders.
Oction will launch with an initial market capitalization of just $561,000, with its allocation round officially opening on Thursday, April 8, and its public sale on Friday, April 9. Following the completion of the allocation round, the public sale will comprise any unsold tokens from the round, as well as a pool of tokens dedicated by the Oction team for the IDO. The public sale will take place based on a first-come-first-served basis.
To learn more about Oction, visit https://oction.io/.