Oddz Finance AMA Summary Recap with Shin Chan Community

11 min readSep 29, 2021

We held a live AMA with CBDO, Sushma C from Oddz Finance on 29th September 9:00 PM (UTC+8). Here’s the recap for those who missed it.

Introduction

Mika | Shin Chan: Before AMA start, can you introduce yourselves and the team background?

Sushma C: I am Sushma Chikkanna and I have an overall 10 + years of experience in IT industry and serving in major MNC’s like Wipro, TCS, EMC, Care and Genpact. At the end of 2019 entered Crypto as a part-time moderator and then I moved ahead as an Admin for few new protocols and now as CBDO(Chief Business Development Officer) at Oddz Finance.

Oddz is lead by CEO Aishwarya Shivakumar, CTO and CoFounder Shreedhar Sreenevasa and we have a higly skilled Engineering team and Marketing team

Mika | Shin Chan: Is there any latest/ update news about Oddz you would like to share with our community to keep an eye on?😀

Sushma C: Our Mainnet is live on Binance Smart Chain and we have ongoing leaderboard programs
Mainnet link : https://app.oddz.fi/

Users can provide liquidty, stake, purchase options and be a part of leaderboard programs which fetches rewards

I request all the users to explore Oddz mainnet on BSC

AMA Twitter Section Begins:

Q1: Oddz brings together the Ethereum, BSC, Matic and Polkadot and focus on the problems of DeFi. Can you please tell what solutions do you plan to bring to DeFi?

Sushma C: We are providing options trading on Eth, BSC, Polygon and Polkadot. We have already built our Testnet on Polygon and it was grand success too.
Solution includes:
No minimal fee for options trading
Gasless transaction
Adequate liquidity across chains through ODDZ platform.

Q2: I want to invest in your project. Kindly tell me what is your contract address to buy OddzFinance on pancakeswap and what is the slippage rate for it?

Sushma C: https://pancakeswap.finance/swap?outputCurrency=0xCD40F2670CF58720b694968698A5514e924F742d

It would be zero to no slippage fees

pancakeswap.finance

Q3: To be a great platform for both Investors and for it’s users Transparency and security is important. Can #ODDZ tell us some details about your transparency and your security mechanism. Have you already completed the audit of your platform? because user funds top priority !!

Sushma C: Security has been given a major importance at Oddz.
Our smart contract and token contracts are audited and verified.
We have successfuly completed audit by
Peckshield
Slowmist
BayFront law for legal opiniion

Q4: On your website, there are 2 ways to make money on Oddz, the first is to lock assets in the Oddz liquidity pool and the second is to staking Oddz tokens. What is the total profit that these two options generate for users? Do you really make a good profit with Oddz?

Sushma C: We have 15M tokens that is been dedicated towards the rewards section for across users. We also buy back Oddz tokens using some portion of the protocol transaction fee.
Once we start gathering more protocol transaction fee, we will inject more Oddz tokens as staking rewards.
Also , 20k ODDZ tokens everyday are distributed to the staking users on Mainnet, current APY ODDZ- 81.92% , ousd — 826.59 %

📍Provide liquidity here to get oUSD tokens when you add liquidity.

📍Earn up to 20,000 ODDZ daily by staking oUSD and $ODDZ.

📍Get up to 80% discount on transaction and settlement fee by staking on Oddz.

🔥Enjoy 918.1% APY by providing liquidity on Oddz Platform: https://app.oddz.fi/options/liquidity

🔥82.89+ APY for Oddz Staking : https://app.oddz.fi/options/staking

🔗 Explore Oddz trading platform: https://app.oddz.fi

📹 Youtube link: https://youtu.be/Kh1uoDYmTHY

📚 Read More: https://bit.ly/2XOclzv

Q5: I’ve learned that Oddz Finance has partnered with Chainlink to provide decentralized price feeding mechanism for its derivatives market and products. Will you be integrating with Chainlink along the way or will Odzz Finance develop its own oracle solution for its ecosystem?

Sushma C: We are integrated with chainlink and also we are working towards building our own oracle feeds as we progress further.
Our Integration with Chainlink’s Implied Volatility (IV) Data Feeds just got covered by Coingape — the most trusted source of News, Insights, Reviews and Price Analysis on Bitcoin, ICO, Blockchain, Cryptocurrency.

📖 Read the article here: https://coingape.com/oddz-finance-to-integrate-with-chainlinks-implied-volatility-data-feeds-to-provide-tamper-proof-accurate-data-for-premium-calculation/

Live AMA Begins:

Q6: I want to ask about the “ODDZ TOKENS “ , What are the Various Key Utilities and the Use Case of the $ODDZ Tokens , and What primary Or Main Role Does the Token Plays in the ODDZ Ecosystem ?

Sushma C: Staking
GOvernance
Referral bonus
Staking: All users staking $ODDZ on our platform will receive a share of the transaction fees whenever an option is purchased or exercised. As more users come on our platform, all stakers of $ODDZ tokens shall benefit from this activity! Additionally, the derivatives trading market is huge in the traditional world and we expected the same to be replicated on DeFi as well. Lastly, traders can employ various yield farming strategies to earn greater returns.
-Governance: Users can strongly support or disregard protocol proposals through community votes depending on the rationality of the same.
-Transaction fees: Platform users can use $ODDZ tokens to pay for the transaction fees, whenever they purchase or exercise a contract.
-Referral bonus: If the user extends the platform’s support by spreading the word, they are entitled to referral bonuses.
you can find more here : https://bit.ly/3mmuYST

Youtube Link: https://youtu.be/aoVpUyru28k

Q7: For which sector of users does “Oddz Academy” was made?
How will it help different kind of users? Or It is only for newbies?

Sushma C: Oddz Academy was mainly for all the new comers and defenetly to all the users out there.
We at Oddz want to help users learn and earn.

With the launch of Oddz Academy, Oddz Finance aims to make DeFi and Derivatives trading simple and easy for all.
Oddz Academy provides our community with tailor-made educational content catering newbies, amateurs and experts.
Our content will comprise of tutorials, guides and videos.
In order to provide high quality educational content, Oddz Academy will collaborate with Industry leaders to enhance your learning experience.

Read more here : https://bit.ly/3wj171u

Medium (https://bit.ly/3wj171u)

Q8: What advantages do you have over competitors? Can you provide the project roadmap and tell us a little about your plans for 2021 and your plans for next year 2022

Sushma C: Some of our competitors are built on Ethereum. One of the reasons that keep us in a better position is the fact that users have to deposit their USDC in case they want to be Liquidity Providers. This reduces the risk of any loss, especially for tokens like WBTC or ETH that might lose value in the short run. On the other hand, we allow users to deposit USDC tokens.

Lastly, our liquidity pools are very diverse unlike some of the other pools, for example, other platform have the below challenges :

Users have to either deposit their ETH or WBTC for the tokens
Users do not get a chance to decide whether the tokens deposited will be for Call or Put options
Users do not get to know whether the duration of the pool will be 1 day, 7 days, 1 month, etc.

These features of our competitors add to the limitation of the liquidity providers. We have been able to solve this problem and our 21 liquidity pools have been able to give a net positive return week over week. ( on mainnet we have currently 9 pools )

Oddz offers liquidity providers to add liquidity to options that are priced using Black Scholes option pricing model and with an exposure of 7 , 30 days
Add liquidity here: https://app.oddz.fi/options/liquidity and get oUSD tokens
Youtube link: https://youtu.be/Y7dx_52OApE

*********

YouTube (https://youtu.be/Y7dx_52OApE)

Q9: You mentioned now that the mainnet is live on Binance smart chain,and you have a leadeeboard program.
Could you tell us about how a user can gets placed in the leaderboard?
And also what are the benefits and rewards for being top in the leaderboard.
How often does it get refreshed?

Sushma C: Top 10 traders will be rewarded with up to $5,700 worth of ODDZ every week
You can be amongst the top traders on the Leaderboard by -
Buying call and put options on Easy and Customised Options;
Providing liquidity in the Liquidity Pool and earning from the premium distributed among; all LPs
Strategising and doing a mix of the above two points.
Link: https://app.oddz.fi
Read more: https://bit.ly/3CihT3C

Medium (https://bit.ly/3CihT3C)
Weekly Leaderboard
Maximise your profits to be on top of the leaderboard

Q10: You make our transactions more efficient and feasible with zero gas fee, then how is zero gas fee executed?

Sushma C: As we are already aware of, transaction gas fee on Binance smart chain is way cheaper.especially with relayers, it becomes even cheaper
Like all the centralized exchanges, there will be a small protocol transaction fee that we collect from users when they trade. So we will use this protocol transaction fee to compensate the user’s gas fee
https://medium.com/oddz-finance/oddz-protocol-introduces-zero-gas-fees-transactions-to-drive-widespread-defi-adoption-21eb7bae5e33

Q11: Oddz Finans first completed the Oddz Incentivized Testnet program on Polygon Network, and then published a mainnet on BSC Mainnet. What will be your next blockchain choice? Will you be working with other blockchains?

Sushma C: Our testnet programs on Polygon and BSC were succesful , Our Mainnet is Live on BSC.
We will building on Polkadot, Ethereum
link : https://app.oddz.fi/

Q12: Now that you describe Oddz as a project that “focuses on creating solutions that can strengthen the DeFi ecosystem by simplifying Derivatives trading and improving user experience”, can you explain what problems you are solving in the DeFi ecosystem and how you will simplify Derivatives trading?

Sushma C: Major Challenges in decentralized options trading market that needs to be addressed
Transparency in calculations, High network fees, Budget constraints,Dependency on Option Writers
We aim to resolve these issues with our technical and fundamental know-how of the DeFi space and incredible options market trading experience and become a one-stop solution for options, futures, perpetual and conditional tokens.

Q13: Knowing that the Oddz protocol is a decentralized gamified platform that allows users to make on-chain option trades with simplicity. Could you briefly explain what gamification is and how it might help your platform’s users?

Sushma C: We employ machine learning, present market conditions on a specific day/week along with user’s past history to recommend an easy options
That should enable a user without much experience in options trading to get used to it
For advanced users, we have a customized options section where a high degree of customization is possible
For people who don’t want to spend the real money, there will be a virtual trade section
We also have a social trading section where people can follow fellow traders on our platform and simply follow other’s strategy
Reason behind this gamification is to ensure we will have a high adoption rate and make options trading very much understandable and accessible to all the users

Q14: 🌟 Oddz shows the metrics used to calculate the premiums, explain us a little bit the process of these metrics, how often are these metrics shown to Oddz users?

Sushma C: premium is calculated on a daily basis
Premium Allocation Per Address = (OTM Premium + Current Surplus — Exercised) * (Total Liquidity Provided by Address/Total Liquidity)
Where,
OTM premium: Out of money premium collected for the day.
Current Surplus: The amount forfeited by early (<14 days) LP withdrawers.
Exercised: Amount used for Exercising Options for the Day.

Oddz Finance AMA Summary Recap with Shin Chan Community

Written by Shinchanieoalerts

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