Oddz AMA Transcript

Oddz is the Multi-chain options trading platform on Binance Smart Chain, Polkadot & Ethereum. Enabling users to trade customized options with rewards. All questions answered by @shreedhar_shreenivasa (Shreedhar Shreenivasa)

By
CryptoShrimp
on
March 14, 2021
Category:
AMA

Crypto Shrimp (AMA Host): Let’s welcome Oddz team today for an AMA at BSC News! How are you doing today?

Shreedhar Shreenivasa: Going great. How are you doing @cryptoshrimp5 ? Thanks for the invite, looking forward to the AMA

Crypto Shrimp (AMA Host): im great! and looking forward to know more about Oddz project too

Q1 Maybe we kick start this AMA with an introduction of yourself and your team, whats your position and your past experiences?


Shreedhar Shreenivasa: Sure. I have worked for few tech start ups in Bangalore before moving to San Francisco bay for Uber. I built web applications in Uber and made them performant on a Global Scale.  in Oddz, I am working as a CTO and I am one of the founders of Oddz I have been trading on stock market as well as crypto market for last 5 years. along with myself, we are about 20 people now and 9 engineers including myself and 10 people are driving marketing and business development

Crypto Shrimp (AMA Host): thats a big team and great development


Q2 Could you let us know more about Oddz project? like an overview?


Shreedhar Shreenivasa: Sure, We are a truly multi chain options and derivatives trading platform on Binance smart chain, Ethereum, Matic, Heco and soon Polkadot

Crypto Shrimp (AMA Host): does that mean that we can use oddz to cover our position in a crypto trade as an option? is that a correct way to put it?

Shreedhar Shreenivasa: yes, one can use it to hedge their positions as well as buy call options when they think market will go up but couldn't secure new positions. instead they can buy an option contract and buy/sell an underlying asset for any predecided strike price before it expires

Crypto Shrimp (AMA Host): thats great this is similar to how stocks and options work

Shreedhar Shreenivasa: yes.


Q3 I’m interested in knowing how did this project come about? what inspired you to start ODDZ.fi?


Shreedhar Shreenivasa: Sure. Both myself and my co founder are traders who have got very much curious in mathematics. This led us to explore the options pricing and trade wisely by looking at the various metrics. When we started to trade derivatives for crypto currencies there weren't many robust dentralized apps. since late 2019 we started explore more on the blockers that is halting the user adoption for derivatives for crypto currencies, we decided to build Oddz every feature and every problem that we are solving in Oddz has a story and very thought research around it

Crypto Shrimp (AMA Host): Is Oddz an acronym or it has some other meaning to it

Shreedhar Shreenivasa: yes, Oddz is the definition for opportunities and growth Since options and derivatives are more of opportunities for growing ones portpolio by either speculating or hedging their positions, we named it Oddz

Crypto Shrimp (AMA Host): and may the odds always be on our side the

Shreedhar Shreenivasa: thanks for your wishes :)


Q4 From the webpage, Zero gas fee caught my eye. How can Oddz achieve zero gas fee?


Shreedhar Shreenivasa: 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 user's gas fee :)

Q5 How are revenue being generated for future development? besides from transaction fee, since it is used for zero gas fee


Shreedhar Shreenivasa: as per our calculations and testing, the transaction fee is more than enough for the gas fee. All the fee we collect will be used for various purpose like staking rewards for our liquidity providers who provide liquidity into our AMM pool and some portion will be taken as a development fund even at 100 users to begin with and incremental of 30 users every month, we can be profitable by mid 2022 Our relayer network partners have agreed to take care of the gas fee for first 6 months

Crypto Shrimp (AMA Host): nice that will assure continuous development of the project and of course getting the team paid for their hardwork as well.


Q6 I’m sure the investors will be interested in how they can be rewarded from Oddz, let us know what are the use case of $ODDZ.


Shreedhar Shreenivasa: Sure The Oddz Protocol has its native token as $ODDZ, which is designed to incentivize and promote the community's active participation. The $ODDZ tokens are a representation of power and are central to the incentive structure and governance of the Oddz Protocol. The $ODDZ token holders represent an integral part of the Oddz ecosystem, thus voting on various decisive moves and proposals for the protocol's growth. Moreover, the primary motive of Dapps is to fuel the decentralization of authority; thus, the community holds a substantial bar in driving this. Transaction fees: Platform users can employ an $ODDZ token to facilitate transactions in a seamless manner. Staking: Users can stake $ODDZ tokens on the Oddz protocol in an attempt to earn higher yields, thus maximizing returns. Tech-savvy traders also 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. Referral bonus: If the user extends the platform's support by spreading the word, they are entitled to referral bonuses.

Crypto Shrimp (AMA Host): thats alot of use case to be a $ODDZ holder

Shreedhar Shreenivasa: Yes


Q7 I read that “Oddz allows the creation, maintenance, execution, and settlement of trustless option contracts, conditional token agreements, and futures contracts in a fast, secure, and flexible manner.” Im sure the audience will wanna know how secure is ODDZ? when it mention trustless, does that mean that the project does not need to be audited?


Shreedhar Shreenivasa: No, we will have our smart contracts audited by at least top two auditors then we will run bug bounty programs and reward programs for growth hackers All the options that we calculate and create are purely on on-chain

Crypto Shrimp (AMA Host): that basically covers all the security that is needed to make it safe for the users


Q8 Is there any partnership that has been firmed up ? How can another project partner with ODDZ?


Shreedhar Shreenivasa: Yes, we recently partnered with Zeroswap who are soon going to launch their multi chain dex with this partnership, users can buy options while trading crypto currencies for stable coins, just like we buy an insurance policy along with a flight ticket

Crypto Shrimp (AMA Host): this is awesome man

Shreedhar Shreenivasa: Thanks @cryptoshrimp5 similarly quickswap on matic can start using our protocol just like zeroswap did

Crypto Shrimp (AMA Host): any future partnership that you will be looking for? like for staking etc since use case for $ODDZ is quite huge i guess Zeroswap is just the first step in collaboration?

Shreedhar Shreenivasa: yes, we have quite a lot partnerships lined up. we will be announcing them soon after our ID

Crypto Shrimp (AMA Host): Is this a second round of IDO? i remember reading there was a IDO being done with Polkastarter.

Shreedhar Shreenivasa: nope, we announced our IDO on polkastarter last week we are going to have our IDO on 18th of March

Crypto Shrimp (AMA Host): wow i just wanted to clarify this for the audience and now im sure ppl are marking the date down on their calendar.


Q9 what are the short term development that are in place for ODDZ?


Shreedhar Shreenivasa: sure, we have so far integrated and tested our smart contracts on testnets on BSC, Ethereum, Matic soon after our IDO, we will be launching our testnet until the  smart contracts are being audited, we will run the testnet


Q10 Do you have a roadmap or long term plan that you can share with the audience today?


Shreedhar Shreenivasa: Sure, its in the website as well.

here are the few: 

in Q1 we have

Alpha launch & TGE

Trading platform launch

Liquidity mining

Staking

in Q2: 

Integration with Polkadot network

Oddz oracle launch

Oddz options on wallet dApps

Oddz Futures Platform

and later this year we will have :

Conditional markets

Perpetual markets

Options trading platform for the European style of options

Crypto Shrimp (AMA Host): those are great plans and with the big team im sure it will be followed closely


Q11 Do share with us some links that we can follow or read up more about ODDZ.fi, eg twitter/medium/TG etc


Shreedhar Shreenivasa: 

twitter: https://twitter.com/oddz_finance

medium: https://medium.com/oddz-finance

telegram: https://t.me/oddz_finance


Q12 lastly, we wanna know more alpha or juicy news that you can share with us today that is upcoming?


Shreedhar Shreenivasa: we have some big announcements planned and we are going to announce the phase 1 results for our recently concluded whitelisting process due to the NDAs I can't share the names but partnership announcements with a few oracle solution providers, data providers and integrations are few we have on the table

Crypto Shrimp (AMA Host): Sounds exciting already and we understand that you cant disclose everything, I'm sure the audience can't wait to hedge their positions in the near future too

thank you very much for your time here today, a transcript of this AMA will be published shortly. Hope you enjoyed your time in BSC News today as well.

Shreedhar Shreenivasa: thanks for the valuable AMA, I really enjoyed it


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