• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
octopus
Nexo Logo

The Best Decentralized Derivatives Experience — the Octopus Protocol Vision

NewsBTC by NewsBTC
11 months ago
in Company News
Reading Time: 3 mins read
Advertisement

Less than six months into 2021 and we’ve witnessed unprecedented growth in the market cap of the crypto market. With premier coin Bitcoin reaching new all-time highs and currently struggling to stay up, the crypto market has been blessed with a ton of trends and sub-trends that have managed to rake in billions of dollars, as reported by the leading crypto analytics website CoinGecko.

The decentralized finance [DeFi] trend happens to be the most valuable of the crypto trends right now. With billions locked in TVL [total value locked], there are endless opportunities for this emerging market. In an attempt to tap from this market, a ton of decentralized derivatives platforms have been launched to aid users to facilitate trades.

Projects like Synthetix, Mirror, and UMA have all been designed to offer users an array of approaches or methods to access synthetic assets. Synthetix, the dominant decentralized derivatives platform, according to reports, accounts for over 98% of the value locked in DeFi protocols. Enabling users to mint synthetic assets on its platform, this platform seeks to incentivize them by offering several rewards.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Similar to these platforms is the Octopus Protocol, which according to the development team was built to simplify access to synthetic assets. Particularly similar to Synthetix, the Octopus Protocol provides users with a perfect passive income source. For every transaction carried out on the network, users are rewarded with its native token, the OPS token.

Albeit a bit alike, Octopus differentiates itself by integrating and leveraging the immense benefits of blockchain technology, the underlying technology on which over 98% of crypto projects are built. Additionally, the platform uses the advanced Binance Smart Chain [BSC], the foremost Ethereum competitor that has been described as a faster and cheaper alternative. Leveraging BSC, Octopus Protocol encompassing products for asset management, exchange, and settlement of derivatives will introduce scalability, faster and cheaper transactions to the DeFi derivatives market. With lower gas fees compared to Ethereum, Octopus via BSC will level the playing ground, opening up opportunities for prospective low-income investors to get in on the DeFi action.

Combining a Multitude of Products

Unlike a few of the top projects in the market, Octopus seeks to reduce the cost of collateral required before minting synthetic assets. Ordinarily, users will need to stake a certain amount of a platform’s native token [in this case OPS] to enable them to mint or create synthetic assets on their networks.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Whilst most will ask for huge sums as deposits, Octopus eliminates this major bottleneck by requiring a small collateral amount. The platform, according to developers, combines a multitude of products to complete and facilitate agreements with synthetic assets. Its broad ecosystem, a major facet of this nascent platform, allows users to capture a wider value from the creation of synthetic assets as well as exchanging assets to a user’s portfolio all on one network, offering the best decentralized derivatives experience.

Built to offer equal opportunities to all, a series of tools have been made available for anyone seeking to mint synthetic assets on the blockchain. The availability of these requisite tools means that any individual, regardless of the level of expertise, can seamlessly create assets on the Octopus ecosystem.

With all of these products simplifying the complex process, the OPS token will run as fuel on the ecosystem. Users will need to own this token if they are to engage in any of the activities on the network. Being a governance token, OPS will offer anyone on the network unreserved rights to vote for the ecosystem’s governance, promoting a decentralized, advanced, and reliable community.

Octopus Protocol whilst piggybacking on some of the models of existing platforms seeks to pioneer a drastic shift in how this budding market works.

 

Image by Sebastian Ganso from Pixabay
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
NewsBTC

NewsBTC

Related Posts

Sneakmart Brings Its Web3-oriented Metakicks NFTs To Market In June 2022

Sneakmart Brings Its Web3-oriented Metakicks NFTs To Market In June 2022

16 hours ago
The Evolution of Gaming and Its Integration into the Crypto Universe

The Evolution of Gaming and Its Integration into the Crypto Universe

17 hours ago
Unizen Grows Its CeDeFi Exchange, Adding ZCX/USDT Trading Pair Into The Mix

Unizen Grows Its CeDeFi Exchange, Adding ZCX/USDT Trading Pair Into The Mix

23 hours ago
How Web 3.0 Can Help YouTube Content Creators

How Web 3.0 Can Help YouTube Content Creators

2 days ago
Taki Enters The Indian Market with First of its Kind Engage-to-Earn Crypto Economy

Taki Enters The Indian Market with First of its Kind Engage-to-Earn Crypto Economy

2 days ago
Amidst the Mounting Risks to Bridge Security, A New Non-custodial Liquidity Bridge Focuses on Decentralization

Amidst the Mounting Risks to Bridge Security, A New Non-custodial Liquidity Bridge Focuses on Decentralization

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

SFUND To Be Listed On The Leading Global Crypto Exchange Huobi Global

May 19, 2022

Diversify your crypto portfolio with Pac-Man Frog (PAC), Monero (XMR), and Aave (AAVE)

May 19, 2022

Don’t Miss Out On The Metaverse: Introducing Apecoin (APE) and FIREPIN Token (FRPN)

May 19, 2022

Will Social Media Survive Web 3.0? Can Decentraland (MANA) and RoboApe (RBA) Take Down Instagram?

May 19, 2022

Interesting Cryptos Trading Under $0.60: Basic Attention Token (BAT), Cartesi (CTSI), Mountanaz (MNAZ)

May 18, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.