Tortola, British Virgin Islands (BVI), Nov. 05, 2024 (GLOBE NEWSWIRE) — OptSwap, a decentralized cryptocurrency options trading platform, is excited to announce its official launch. They are all set for a revolutionary approach to crypto options trading. With a mission to provide users with a fully decentralized, non-custodial and transparent trading experience, OptSwap aims to redefine the crypto options landscape by offering a solution that fills the gaps in traditional finance and centralized exchanges.
To celebrate the launch, OptSwap is inviting users to join their exclusive quest – an opportunity to explore the platform, interact with the community and earn incredible rewards!
The vision behind OptSwap
OptSwap is the brainchild of two crypto enthusiasts and seasoned technologists: Akshay Patel, the lead developer, and Dhwanit Patel, who oversees the user experience. Both founders have extensive experience in software development and extensive experience in options trading, which played a vital role in their journey to creating OptSwap.
Akshay Patel, with over 15 years of experience building Web 2.0 products, ventured into the DeFi and Web3 space in late 2020. His dissatisfaction with the limitations of existing crypto options protocols, combined with his expertise as an options and spreads trader since 2013, inspired him to develop a decentralized platform that meets the needs of traders who prioritize transparency and security.
Dhwanit Patel brings over two decades of programming experience, with a rich history in embedded systems and Web3 user interfaces. It entered the crypto world in 2021 during the DeFi 2.0 wave, driven by a desire to innovate in fintech and options. A self-proclaimed permabull, Dhwanit has successfully used options strategies for income and hedging, and now channels this expertise into OptSwap to provide traders with a transparent and intuitive trading experience.
OptSwap: A revolutionary platform for crypto options
OptSwap positions itself as “the Uniswap of options,” offering a decentralized exchange (DEX) and automated market maker (AMM) designed specifically for cryptocurrency options. It allows users to trade both traditional European and American style options, as well as multi-pronged spread strategies, all through an open, fully auditable on-chain order book and peer-to-peer exchange (P2P).
Key features include:
– Decentralized order book & AMM: OptSwap integrates a decentralized order book with specialized AMM for options, enabling effective risk management.
– T+0 regulations: Users can instantly exercise the underlying asset or settle in cash after expiration, eliminating waiting times typical of traditional finance.
– Zero counterparty risk: Fully collateralized positions eliminate the need for liquidations, providing traders with peace of mind.
– Autonomous DAO: The platform operates under a decentralized autonomous organization (DAO) model, with community ownership and governance.
OptSwap’s approach ensures full transparency and deposit-free trading, making it one of the few platforms where users maintain full control over their assets and transactions. This stands in stark contrast to centralized exchanges (CEXs), which, while offering options trading, lack the open, publicly auditable nature of OptSwap’s smart contract model.
Addressing the limits of traditional finance
OptSwap aims to fill an important gap in the market by targeting both crypto traders, traditional options traders and professional market makers. While options trading in traditional finance (F&O) can be restrictive and highly centralized, OptSwap offers an open, decentralized alternative that negates the limitations of stock options trading. Unlike traditional F&O, OptSwap offers: –
Global, non-custodial access: Users from anywhere in the world can trade options on crypto assets without the need for intermediaries.
True DeFi: OptSwap’s on-chain protocol is fully transparent and open for audit by anyone, ensuring that users can trust the integrity of the platform.
The roadmap ahead
As OptSwap moves toward its mainnet launch, the team is focused on expanding its user base through an incentivized testnet and building its brand. Over the next 1-3 months, the company plans to collect valuable user feedback to refine the platform. Over the next 3-6 months, OptSwap will raise initial funds, conduct technical audits of its smart contract code, and prepare to launch its token on mainnet. The ultimate goal is to create a vibrant, user-driven community that actively participates in the governance and growth of the platform.
The OptSwap Quest: Get Involved and Earn Airdrop Rewards
OptSwap invites users to join their OptSwap Quest, a fun and rewarding way to explore the platform and become familiar with its features. The quest involves completing tasks on the testnet, allowing users to experience the platform before it launches on the mainnet. By participating, users can earn rewards and become eligible for airdrops when the mainnet token is launched.
To join the quest, visit OptSwap Quest and begin your journey to mastering crypto options trading.
What’s next?
The end goal of OptSwap is to create a decentralized and reliable crypto options trading platform that allows users to trade with confidence. By eliminating the pitfalls of centralized exchanges, OptSwap offers a transparent, secure, and community-based platform for traders and market makers.
If you are interested in exploring a next-generation crypto options trading platform, now is the time to get involved. Join OptSwap Quest today and be part of the decentralized finance revolution. Visit OptSwap Quest and earn rewards as you navigate the world of crypto options trading!
About Us
OptSwap is a decentralized exchange (DEX) for trading cryptocurrency options on-chain. Powered by an automated market maker (AMM) and meta-oracle, our mission is to create the most advanced, open and transparent DeFi options exchange in the world. Governed by a DAO, OptSwap allows users to trade options in a fully decentralized, non-custodial environment.
Twitter X: https://twitter.com/OptSwap
Website: https://optswap.org/
Disclaimer: The information provided in this press release does not constitute an investment solicitation nor is it intended to constitute investment advice, financial advice or trading advice. It is strongly recommended that you perform due diligence, including consulting a professional financial advisor, before investing in or trading cryptocurrencies and securities.
