Binance Smart Chain’s Octopus Protocol Disrupting the DeFi Derivatives Market

Binance Smart Chain's Octopus Protocol Disrupting the DeFi Derivatives Market
Binance Smart Chain's Octopus Protocol Disrupting the DeFi Derivatives Market

There were several disruptions in the crypto industry in 2021, and we’re only halfway through. In the derivatives market, the Octopus protocol is one of the leading disruptors in the industry. Interestingly, the decentralised finance (DeFi) market has grown to a $ 100 billion market.

Octopus to Capitalize on Huge and Untapped Potential of the Decentralized Derivatives Market

According to data from DeFi Pulse, the total value of DeFi assets locked on the Ethereum blockchain has risen to $66 billion. Since January 2021, that figure has more than quadrupled to $15 billion. DeFi also shines with Binance Smart Chain (BSC). According to Defistation data, the total value of DeFi assets locked in Binance’s smart chain is $38 billion. Interestingly, the market will continue to grow and expand, and Octopus Protocol is one of the projects hoping to capitalize on the rise of this huge market.

The Octopus Protocol is a decentralized financial protocol based on the Binance Smart Chain (BSC). It enables users to issue, trade and manage decentralized derivative assets. The Octopus platform has a trusted architecture that enables developers and decentralized autonomous organizations (DAOs) to deploy and create derivative assets on the Binance Smart Chain network.

These derivative assets or synthetic assets created on the blockchain network may represent some of the underlying assets in the real world. Octopus is trying to capitalize on the huge and untapped potential of the decentralized derivatives market. This ecosystem offers an affordable market solution for the entire decentralized derivatives market.

Octopus Token

Octopus has a local token called OPS token, which is a BEP20 standard. It aims to strengthen the octopus ecosystem. It will also serve as an incentive and reward for individuals who use the Octopus platform. OPS tokens also grant the Octopus community the right to vote on governance within the protocol. The supply of OPS tokens is set at 150,000,000 and the initial supply is 8,700,000.

The octopus ecosystem offers many benefits, including:

Unlimited Exposure to Synthetic Assets

The ecosystem offers users unlimited exposure to multiple instruments of derivative assets such as stocks, bonds, equities, futures (raised as tokenized assets). It also offers you trading in derivatives with very small spreads and a variety of innovative hedging tools with no risk of liquidation. In addition, as a user of the Octopus platform, you can use various tools to create blockchain-based synthetic assets. This in turn creates equal opportunities and accessibility for everyone who uses the platform. Another interesting thing about the Octopus ecosystem is that you can even switch between any derivative asset without holding the underlying asset.

Manage Your Wealth Effectively

The Octopus non-custody wallet allows you to manage all of your assets and positions. Hence, you are always in control of your money. It also allows you to keep track of your transaction history and overall portfolio balance. Octopus also connects asset managers and investors in a decentralized peer-to-peer infrastructure.

Get an Effective and Efficient Trading Guide

Octopus enables you to fully transparently understand the implementation of collective strategies, how those strategies are built and how they work. As a beginner, you can get expert trading firsthand by following the trading patterns of seasoned traders. You can also see the trading patterns of your favourite traders in real-time. Other benefits of the Octopus platform include asset exposure, more trading options, hedging risks, etc.