Oddz x Satoshi CLUB AMA Session 22 feb 2021

Oddz x Satoshi CLUB AMA Session 22 feb 2021



PART 1. Introduction of Oddz heder project and community questions.

Hello, Satoshi clubbers and guests of this site. We are happy to present you with a project called Oddz.

Oddz is the Multi-chain options trading platform on Binance Smart Chain, Polkadot & Ethereum.

Offers a seamless on-chain option trading solution with an in-built Oracle solution. Enabling users to trade customized options with rewards.

The plan of AMA session:

  1. Part — Introduction and preselected questions.
  2. Part — Live questions
  3. The Quiz about Royal finance

The reward pool is 500$

Leading the AMA our clever and fun admins:

Luis Merino

| Satoshi Club — @LuisMe7 and Gold Rocket | Satoshi Club — @GoldRocket27

The Representative of the project:

Shreedhar Shreenivasa — @shreedhar_shreenivasa

Introduction of Oddz project.

 

Luis merino

| satoshi club:

Hello everyone and welcome to another ama with the Satoshi club. Second one today… Our guest today is from ODDZ finance. @shreedhar_shreenivasa welcome

Shreedhar shreenivasa:

Thanks, @luisme7 for the welcome. Happy to be here and answer all the questions that the community will have

Gold rocket | satoshi club:

Hello, dear satoshi clubbers! Welcome to satoshi club @shreedhar_shreenivasa

Shreedhar shreenivasa:

Thanks, @goldrocket27

Luis merino

| satoshi club:

Glad to hear that you are happy because a lot of great questions are coming…

Shreedhar shreenivasa:

Looking forward to it

Gold rocket | satoshi club:

To begin with, please tell us a few words about yourselves and how did you get to be involved in crypto & Oddz

Shreedhar shreenivasa:

I have worked for a few tech startups in Bangalore and the san Francisco bay area since 2011. In 2017, i was introduced to blockchain technologies by one of my friends and proposed an idea of using blockchain for e-commerce supply chains. Later since 2019, and my co-founder has traded in the stock market as well as for cryptocurrencies.

In late 2019 and early 2020, we were thinking of building an one-stop solution for all the derivatives for crypto and did extensive research around the same.

Gold rocket | satoshi club:

Good background!

Shreedhar shreenivasa:

We wanted to be a Robinhood for cryptocurrencies and that’s how ODDZ started.

Luis merino

| satoshi club:

Sounds great! Thank you for the introduction

Luis merino

| satoshi club:

So, are you ready to start with community questions?

Gold rocket | satoshi club:

https://esatoshi.club/wp-content/uploads/Oddz-Robinhood.mp4?_=2

Shreedhar shreenivasa:

Yes, keep them coming my way. I will try my best to answer all of them

Preselected questions about the Oddz DeFi project.

 

Gold rocket | satoshi club:

Q1 from telegram user @borysfireball

ODDZ offers a seamless on-chain option trading solution with an in-built oracle solution. That’s great, but according to your roadmap your trading platform will go live in 1q and ODDZ oracle launch will be in q2. So, what oracles will you use from the beginning? Or maybe it means that we won’t get full services from the start?

Shreedhar shreenivasa:

We are partnering with some of the top on-chain data providers in the beginning. Due to the nature of derivatives, it’s very essential to have an oracle that can provide the on-chain data if any existing oracle cannot. Obviously, building oracles takes a lot of time and all the security measures need to take.

So long story short: in the q1, when we launch our mainnet, we will have at least 3 existing oracles partnered with Oddz. More details on this will be announced soon.

Gold rocket | satoshi club:

Don’t forget to share with satoshi clubbers

Luis merino

| satoshi club:

Maybe you can give us a hint? Satoshi club love hints

Shreedhar shreenivasa:

Sure. We will definitely want the satoshi clubbers to be up to date with all the information about ODDZ protocol. Don’t forget to join https://t.me/oddz_finance for timely updates

Gold rocket | satoshi club:

Join satoshi clubbers

@shreedhar_shreenivasa tell us a little about your team. How many people do you have, what do they do?

Shreedhar shreenivasa:

We have about 10 people working on product development, business development, and our marketing efforts. 5 people are working on protocol and user experience development and the rest of them working on product design and marketing.

Gold rocket | satoshi club:

Are they remote workers or do they go to the office?

Shreedhar shreenivasa:

All the team details can be found on our landing page: https://oddz.fi/

All of them are full-time and only a couple of folks are working remotely due to the pandemic restrictions

Gold rocket | satoshi club:

Thank you so much! You have a very informative website

Ready to move on to the next question? Or do you want to add something?

Shreedhar shreenivasa:

Yes, we can move on to the next question unless you have anything to know about our team

Gold rocket | satoshi club:

Q2 from telegram user @yellowchamp

As written on your website that you will enable users to trade customized options with rewards. My question is that how does the trading customized options works in ODDZ finance? How does reward be given and what kind of reward be will the traders get? Can you share what are the risk and pros?

And cons that it will bring to traders in using customized trade options? Thank you

Shreedhar shreenivasa:

We use machine learning and data analysis to recommend users easy options where users can buy pre-customized options based on the market condition. On top of this, if any user wants to choose their options strategies, they can do so in our customize section.

Gold rocket | satoshi club:

How big are the risks?

Shreedhar shreenivasa:

There will be a section for users to decide what level of risk they are willing to take.

Usually, some portion of the settlement fee we collect from our options traders will be used to compensate the gas fee for our options traders

Luis merino

| satoshi club:

Great method!

Gold rocket | satoshi club:

Not bad

Luis merino

| satoshi club:

When will that be available?

Shreedhar shreenivasa:

We have our testnet slated to be launched soon and we will keep you posted on this.

Users who are not willing to take risks can select options strategies that will have minimal risk and at the same time, rewards will also be minimal.

Luis merino

| satoshi club:

That’s logical, the higher the risk, the higher the rewards.

About the testnet, is it going to be a public or a private one?

Shreedhar shreenivasa:

It’s gonna be public

And there will be very good rewards for these test net users

Based on the leadership position, all the testnet participants will get rewards

Once we have our smart contract audits and other security measures, we will launch the mainnet

Luis merino

| satoshi club:

Really looking forward to it

Shreedhar shreenivasa:

Sure. We made very good progress in terms of protocol smart contracts and testing them on various blockchains

We are close to submitting our protocol smart contracts for auditing and we made some strategic partnerships (details on this front will be shared soon)

We will have our alpha launch and the soon and will be announced in our ann group very soon

Shreedhar shreenivasa:

So to be precise, our roadmap for Q1 is:

  1. Alpha launch & TGE
  2. Trading platform launch
  3. Liquidity mining
  4. Staking

Gold rocket | satoshi club:

We will be very glad to hear about this in your updates!

In the first quarter of this year, based on the roadmap. By the way, share your roadmap with our community.

Shreedhar shreenivasa:

Q2–2021

Integration with Polkadot network

  • ODDZ oracle launch
  • ODDZ options on wallet Dapps
  • ODDZ futures platform

A more detailed roadmap will be shared with the community and will be updated on the website too

Luis merino

| satoshi club:

Huge things yet to come

Gold rocket | satoshi club:

If you’re ready we have a very interesting next question.

Shreedhar shreenivasa:

Sure.

Gold rocket | satoshi club:

Q3 from telegram user @auguss7

Could you really give us more details and characteristics of the conditional tokens? Any user can create a token for any purpose for the sole reason that it is of a certain time? Or are there more limitations?

Shreedhar shreenivasa:

Nope, there has to be a definite outcome within a given timeframe, and the source for the outcome

Gold rocket | satoshi club:

Clarify this a bit, please …

Shreedhar shreenivasa:

ODDZ will have an interface for our community users who also hold ODDZ tokens to create these conditional tokens. While creating these, there has to be a source for the outcome and timelines for the same.

Technically conditional tokens can be created for any events that will have a definite outcome that is bound to the time, I am sure all of you have heard of yes trump and no-trump tokens

Luis merino

| satoshi club:

I haven’t

Gold rocket | satoshi club:

I didn’t hear either

Luis merino

| satoshi club:

But I can imagine, they were created during the American elections, right?

Shreedhar shreenivasa:

True. Haha, you should explore conditional tokens on the ODDZ platform then

Luis merino

| satoshi club:

Sounds interesting

Do you want to add something? Or can we jump to the next question?

Shreedhar shreenivasa:

A more detailed sneak peek of the UX for options, conditional tokens, and perpetual will be updated soon.

We can move to the next question

Gold rocket | satoshi club:

Q4 from telegram user @juansb07

On its website it says that there are 2 ways to earn on oddz, the first is to lock your assets in the ODDZ liquidity pool and the second is to bet ODDZ tokens. What is the total return that these 2 options generate for users? Are you really making good profits with Oddz?

Shreedhar shreenivasa:

Yes, Let me give some insights on how options work. When the call or put option is created, there has to be an underlying asset locked. Usually, there will be a user who creates options and then another user can buy. But with ODDZ there will be an AMM pool from which we lock the underlying asset.

All the users who provide liquidity into the pool will get 100% share of the option premium fee. Along with the option premium fee, we collect a settlement fee to reward users who stake the lp tokens, OUSD token that LPS get when they lock the USDC.

Some portion of this settlement fee will be used to compensate the gas fee and the rest will be distributed as rewards. More details on the AMMpool can be found here:

Now on the other side, users who want trade options using ODDZ tokens will get a discount on the settlement fee.

Gold rocket | satoshi club:

Excellent detailed answer! Thank you so much!

Luis merino

| satoshi club:

Sounds really good! Ready for Q5 now?

Shreedhar shreenivasa:

Yes, let’s go for it.

Gold rocket | satoshi club:

Q5 from telegram user @jesusfre1tes

What trading solutions has ODDZ created to streamline the execution of put and call options, conditional trades, and futures contracts? How have you unlocked the potential of decentralized derivatives markets? How do these solutions help drive the DeFi ecosystem and simplify derivatives trading, in turn improving the user experience?

Shreedhar shreenivasa:

So far, we have been focusing on options for eth and WBTC. As we work on implied volatility and the availability of these on-chain feeds, we will add support for more cryptocurrencies.

As I mentioned earlier, we are putting a lot of emphasis on the user experience at the same time enabling users to explore more derivatives in one place

If you see Robinhood, the user experience and quality of the educational content are really good that enables new users to explore stocks and options trading.

Gold rocket | satoshi club:

What trading pairs are you planning to add?

Shreedhar shreenivasa:

Customized options based on the ml and data analysis along with an ability to let users to chose their own strategy will drive the DeFi ecosystem and should simplify derivatives trading.

Our smart contracts are constructed in such a way that, options for any tokens can be added based on the availability of the iv feeds. We will be starting with eth and WBTC.

Luis merino

| satoshi club:

Most used ones

Gold rocket | satoshi club:

Everything is clear to me

Shreedhar shreenivasa:

We will continue to add support for more cryptocurrencies as soon as we get iv feeds from our data provider partners

Luis merino

| satoshi club:

Who are your data providers?

Shreedhar shreenivasa:

I can only say we are working with top oracle data providers as we want to announce the partnership with them. Until then, we cannot really reveal the names

Luis merino

| satoshi club:

When will you reveal them?

Shreedhar shreenivasa:

Soon, in the next couple of weeks for sure. We have a lot of announcements lined up

Luis merino

| satoshi club:

Looking forward to all of them

Shreedhar shreenivasa:

Sure, please subscribe to our ann channel for more details: https://t.me/oddz_fi_announcements

Luis merino

| satoshi club:

Ready for the last question of the first part?

Shreedhar shreenivasa:

Yep

Gold rocket | satoshi club:

Q6 from telegram user @highpee

You have identified high gas as a limitation of seamless and flexible derivative trades on Ethereum and you will be introducing a zero gas fee transaction in order to drive wide adoption. This sounds enticing and I want to know which cutting-edge technological solutions you will be introducing to eradicate this limitation without resulting in network latency? What smart features will this solution have and how will it be executed without trading off efficiency and security since some solutions in this regard require the use of a third-party relayer network which may raise security concerns?

Shreedhar shreenivasa:

It’s a great question actually, I would like to answer this in two parts.

We have layer-2 technologies for optimizing the transaction latency and so far our testing with layer 2 integration and relayer networks has been really good.

As for the security is concerned, we have carefully reviewed the audits and other security measures that these layer-2 and relayers have taken. Now the coming to the second part: gas fee and execution latency on Binance smart chains is really less

So users will have an option to trade options on both Ethereum and Binance smart chain. We are eagerly waiting for Polkadot as much as others and hopefully, that will enable us to execute cross-chain transactions

But thanks for asking this question, it’s really a great one

Gold rocket | satoshi club:

Thank you very much for your answers! You were very informative! Want to share useful links with our community?

Shreedhar shreenivasa:

Sure. Here are the details on our community, project, and social pages. Subscribe to these for timely updates.

Website: | Twitter: | Telegram chats: | Telegram announcements: | Lite paper: | Medium:

We have some exciting news coming in the next few days.

Luis merino

| satoshi club:

Ready for a huge rain of questions for part 2?

Shreedhar shreenivasa:

Sure

PART 2.Questions about the Oddz project from the live chat of the telegram community.

In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the Oddz crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q — 1 from a telegram user @meml97

On your roadmap it caught my attention that you have something called “Alpha launch & TGE” for Q1 2021, could you tell us more about what is this TGE, and this Alpha launch and when will be released? Speaking of this Alpha, if I want to participate in it, will I be able to? How can I help the Oddz platform?

Shreedhar Shreenivasa:

Yes, We will have our token launch in Q1 along with the alpha launch. all the testnet participants will be rewarded with ODDZ tokens. An announcement on the exact date will be made very soon. As I mentioned earlier, we have a lot of announcements lined up in the next few days.

Q — 2 from a telegram user @KASG95

You mention that “Oddz Oracle is specially designed for derivatives market sources”, but is that the most important function for Oddz? Or just start prara derivatives and little by little anger perfecting in the other functions?

Shreedhar Shreenivasa:

would say oracle for derivatives is one of the USPs for Oddz. We have many more USPs along with its an inbuilt oracle.

Q — 3 from a telegram user @cengizhantekin

Which chains are supported by Oddz currently and already planned for the future?

Shreedhar Shreenivasa:

We will launch our mainnet on Binance smart chain, Ethereum, and Heco chain. We aim to integrate with any chain that is close to the EVM

Q — 4 from a telegram user @warny

What sort of incentives have you introduced to incentivize liquidity providers for infusing liquidity into the Oddz Liquidity Pool?

Shreedhar Shreenivasa:

100% distribution of Premium fee along with Some share in the settlement should encourage users to put more liquidity into our pools. We are working on hedging these LPs from sudden market movements. We have also constructed a USD pegged stable coin based pool that should reduce the impermanent loss

Q — 5 from a telegram user @Joseunda

What are the benefits of being able to support the 3 most important blockchains for DeFi today?, Ethereum, Binance Smart Chain, and Polkadot?

Shreedhar Shreenivasa:

As I mentioned in my earlier answer, we aim to integrate with any chains that is close to EVM and Ethereum, BSC, Polkadot, and Heco chain are something we are already testing our protocol with. Reducing user friction is the main reason behind it.

Q — 6 from a telegram user @JoanaZ

The options trading is one of the more risky types of trading that exists, so considering that you maybe will have newbies users, will you create tutorials or guide that explains how operate with it?

Shreedhar Shreenivasa:

Yes, we are working on our bringing more quality content for encouraging users to try our easy options. once they experience with options trading, they can start trading more option strategies

Q — 7 from a telegram user @Antoni_azx

What are the advantages of having an in-built Oracle? How did you create it and how is it better than the conventional extern oracle services?

Shreedhar Shreenivasa:

Any requests for the new data feeds are bound to the time and security audits. getting them prioritized with the existing oracles may hamper our product road map and that is the reason we are investing in providing the IV feeds for more tokens through our in-build oracle. now the conditional tokens also need the data to be served from the specific source within the timeframe.

Q — 8 from a telegram user @asalas95

Yes, user needs to own ODDZ tokens and more details on this will be shared soon. now coming to the events, we will be starting with questions/events that are specific to block chain and crypto currencies. support for more events will be added as we move further?

Shreedhar Shreenivasa:

Q — 9 from a telegram user @AmirJosh

What are the benefits of holding Oddz tokens? Can we earn part of the platform’s earnings when holding $Oddz or the farming and staking are only ways to earn with it?

Shreedhar Shreenivasa:

Yes, there will be multiple staking programs that will be announced soon. in order to enjoy a discount in settlement fee for trading options, users can trade with ODDZ tokens. we will also reward users who refer their friends and family to explore oddz trading platform

Q -10 from a telegram user @Korryl

I read that Oddz Finance has Liquidity Pool under the AMM model, but what makes it different
from another similar project? how does Oddz Finance
Liquidity Pool works to gain profit, is there any penalty if the user withdrawal from your liquidity pool?

Shreedhar Shreenivasa:

We are USDC based AMM pool to reduce the market risk and we dont penalize the LPs who wish to leave the Pool earlier but if the user is in the profits and wants to leave the pool within 14 days, their profit will be distributed to other LPs in the pool. this should encourage users to stay longer in the pool,.
along with this, we are working on hedging these LPs from unexpected market movements.

Part 3 — Quiz about project

 

In the final part, we tested the knowledge in terms of the Oddz project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.

Our contacts for more details:

English Telegram group | Russian Telegram group | Spanish Telegram group | Telegram Channel | Twitter | Website

Our Crypto Partner by this AMA: Oddz

Website: | Twitter: | Telegram chats: | Telegram announcements: | Lite paper: | Medium:


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