Another potential project in the DeFi market has been observed and this is the Opium Protocol. It aims to provide a robust, universal financial rudimentary on-chain. Thus, allowing an off-line transaction to happen in the fields of order books, combined orders, market-making strategies. This new token is developing its two main products the swap.rate and opium.exchange.
Opium Protocol's Integration
This token is being founded by these developers Andrey Belyakov and Arjan Van Der Kooij. Andrey is a professional derivative trader and fund manager with over ten years of experience. Also, Arjan is a serial entrepreneur and private investor with 20 years of experience in managing different kinds of businesses.
Large banks all over the world have controlled financial derivatives and other centralized fund transfers that provide the clearing, settlement, and trading for different types of assets. Opium Protocol was founded aiming to remove this hassle and making the exchanges of assets smooth and secure. The main outlook is to provide a trust less, distributed, and immutable system to lower gas costs and increase security.
Mining Opium Protocol
The revolutionized idea in mining Opium Protocol lies in liquidity mining. What is liquidity mining? The idea is to give users a pool of rewards who actively use, build, or actively participate in the decentralized protocol that lives on the blockchain. This will result in a fair distribution of protocol ownership and governance.
They also assimilate DR.OPIUM as a solution in mining tokens. This mitigates of immediate loosing of opium tokens once miners have already claimed their share. Early withdrawers will receive fewer tokens compared to participants who withdraw their tokens later. The holders will earn more tokens over time, this idea will prevent the token from crumbling. If you plan to hold this token you can start mining in OPIUM FINANCE.
Features & Products of Opium Protocol
This token is a DeFi protocol that allows settling, creating, and trading decentralized derivatives. Stored in and represented by ERC-721o tokens that are uniquely designed for trading financial instruments. The primary functions of ERC-721o are to Compose, Decompose, Recompose.
"When a portfolio is composed, the whole portfolio can be managed or traded as one ERC-721o token, saving gas fees. Upon decomposition, the tokens that were used to compose the portfolio are minted again and stored on the owner’s balance." -Defirate
Opium.Exchange and Swap.Rate this involves two different exchanges. The former focuses on trade, hedge, or investment without intermediaries and benefit from high-speed orders. Whereas, the latter is for hedging or taking advantage of the interest rate fluctuations in the DeFi lending and other borrowing platforms in the digital space.