Flash AMA ⚡ with Aishwarya Shivakumar and Shreedhar Shreenivasa From Oddz Finance with the UniLend Global Community
Welcome!
On Wednesday, April 21st, UniLend’s Ayush Garg (Marketing & Operations Lead) hosted Aishwarya Shivakumar (CEO & Co-founder) and Shreedhar Shreenivasa (CTO & Co-founder) of Oddz Finance for a flash AMA in UniLend Finance Global Community as part of our expanding collaboration.
2500+ members participated in this Flash AMA session from both communities!
Rewarded $200 worth of Oddz tokens to the Participants on Twitter and Telegram
Twitter Campaign to Airdrop 5000 Oddz
The teams got started with greetings, well-wishes, and brief introductions. Shortly after, they got down to the nitty-gritty, and Ayush asked questions he suspected the UniLend community would most want to be answered. Here’s a transcript of the session:
Round 1: Questions from our Host
Q1. So to begin with, could you briefly explain Oddz and how it started?
Aishwarya — I’m happy to tell you all more about Oddz and how it started.
- Oddz is a multi-chain options trading platform built on the Binance Smart Chain, Ethereum, and Polkadot which is striving to unleash its potential as a decentralized derivatives market.
- Oddz allows for the creation, maintenance, execution, and settlement of trustless options contracts, conditional token agreements, and futures contracts in a fast, secure, and flexible manner.
- Shreedhar and I have over 3 years of experience trading stocks and cryptocurrencies. We’ve each used quite a few stock trading applications like zerodha (India), Robinhood (US), and so on.
- Within the trading apps, we couldn’t find any derivatives trading platform that offers end-to-end services like Robinhood.
- The idea of Oddz began when we struggled to find a one-stop solution for all types of cryptocurrency derivatives trading. At the same time, we noticed that few platforms in this space pay much heed to data analytics and user experience.
- We did extensive user research and collected feedback from the active stock market as well as DeFi traders who had a good understanding of Options.
- As a trader, I understood the pain points in on-chain options trading platforms. These include: High gas fees, Dependency on Option Writers, Transparent Premium Calculations, Inadequate Liquidity, and many more. That’s why we started Oddz. :)
Q2. Sounds amazing, I got to know that a significant amount of Oddz Tokens are also available for trading on BSC. Can you please introduce us to the Oddz team?
Shreedhar — Sure, We have about fifteen people driving the tech and marketing. Nine people are working on frontend, and the rest of us are taking care of the marketing and business development.
Q3. Great! Sounds like you’re a lean and effective team indeed. What is your elevator pitch on Oddz Finance? Why are you building this, and why do you think there is a need for such a product in the DeFi market?
Shreedhar — As we mentioned earlier we see a lot many opportunities for derivatives in DeFi.
Aishwarya — When we researched options and derivatives trading platforms, we identified that high gas fees and inability for traders to trade everything under one umbrella were among the many problems.
We believe that a truly multi-chain alternative with cross-chain compatibility between BSC, Ethereum, Heco, Matic and Polkadot — along with the flexibility to use any oracle for options pricing on any chain are the main highlights of Oddz.
Q3. I couldn’t agree more! We see there are a lot of options trading platforms, what makes Oddz different from the rest?
Aishwarya — There are quite a few options trading platforms, but we want to build a one stop solution for all the derivatives.
Innovation — We are planning to leverage layer 2 technologies along with Relayer networks to execute our options trades that would help our users to trade with zero gas fees.
We put an emphasis on both retail investors and institutional investors.
Our Intuitive UI along with our Easy Options Wizard should help users to buy option calls and puts with just a few clicks.
Q4. This is really cool tech, and this brings me to my last question. How do users of both the UniLend and Oddz platforms benefit from our partnership?
Shreedhar — Sure, with this partnership, Unilend will provide flash loans for $ODDZ tokens and Oddz protocol will enable options and perpetuals for $UFT tokens.
As Unilend is also coming up with a DEX, Oddz protocol integration will enable traders on UniLend to directly trade options, as easily as buying an insurance premium while purchasing a plane ticket.
Aishwarya — Here is the detailed explanation about the partnership https://medium.com/oddz-finance/oddz-partners-with-unilend-to-provide-flash-loan-functionality-for-oddz-tokens-c7cdd7a33d01
Ayush — “Call” & “Put” options will soon be available for UFT with Oddz Finance’s multi-chain platform. That’s the key line from our partnership blog!
After getting the answers to the important questions that our host Ayush brought for the Oddz Finance team, we opened things up to the community and chose the best answers for our giveaway.
Round 2: Questions from Oddz Finance Telegram group members
Q5. Almost 80% of investors have just focused on the price of a token in the short term instead of understanding the real value of the project. Can you tell us the motivations and benefits for investors to hold ODDZ long term?
Ashwarya — As you can see, $ODDZ tokens have many real use cases in our protocol. Apart from the tokens, we have been announcing the product overview for several weeks.
Q6. Many projects have problems with UI / UX. This often turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?
Aishwarya — Our main focus is to give users the best user experience. We are bringing data analysis and ML into play. In our research, we identified a lot of room for improvement that we think will bring people in to spend more time on the trading platforms. For example, we want users to come to our platform and spend some time, learn and earn through the various strategies for options and other derivatives.
Q7. Many blockchain projects are on paper only and don’t have any product or have a product with no practical use case. What is ODDZ’ current practical product in use? What are your plans to improve the product in the future?
Aishwarya — Our protocol smart contracts are currently being audited. In the meantime, we are working on creating more educational content and product overview videos. Please check the link: https://medium.com/oddz-finance/introducing-customised-options-on-oddz-finance-b068ed590c8a
https://medium.com/oddz-finance/introducing-easy-options-to-simplify-options-trading-a3cb1e9b96ce
Shreedhar — We will be coming up with a testnet soon. Stay tuned to our official announcements channel for all the latest.
Q8. How will your token increase in value, liquidity, and utility so that its price naturally rises?
Aishwarya — Here is the video explanatory of Oddz token utilities: https://youtu.be/aoVpUyru28k
Q9. What is the structure of this project? Is it decentralised or an open sourced protocol where everybody can contribute? If so, how do you plan on handling the governance?
Shreedhar — We will be open sourcing our repos in the next few days and that should enable more devs to contribute to our protocol. Obviously, doing so will have some incentives as well :)
Q10. What is the most ambitious goal of your project? Can you please share any upcoming updates?
Shreedhar — Our main aim is to be a one-stop solution for all derivatives trading. We have many partnerships and integrations lined up. Most importantly, our application will be live on testnet soon:)
Q11. With the abundance of projects going for core-like qualities, are there any unique new features that the team plans to implement to make your system more attractive to investors?
Aishwarya — The key features promoting DeFi users to utilize on-chain options trading platforms effortlessly include:
- Fraction trades
- Transparent Premium Calculation
- Zero gas fees
- Adequate Liquidity
- Customized Options Writers
Here is the detailed explanation about Oddz features: https://medium.com/oddz-finance/exploring-on-chain-option-trading-through-oddz-unique-features-48a4cfed3fe8
Q12. One of the most striking features of Oddz is certainly this zero gas fees thing. But can the tariffs really go to zero, or is that just a marketing strategy? If not, can you explain how you make this possible?
Aishwarya — For a detailed explanation about zero gas fees, please see our Medium article: https://medium.com/oddz-finance/oddz-protocol-introduces-zero-gas-fees-transactions-to-drive-widespread-defi-adoption-21eb7bae5e33
After answering several questions from the ODDZ community, it was time to wrap things up so both teams could get back to the rewarding work of building the future of finance. Our host, Ayush, graciously thanked the ODDZ team and community for their participation, while Aishwarya and Shreedhar praised Ayush for hosting and their community for such an amazing turnout.
Make sure to check out all of Oddz Finance links for more information and join us next time for your chance to win a share of the prize pool!
Website: https://oddz.fi/
Twitter: https://twitter.com/oddz_finance
Telegram Chats: https://t.me/oddz_finance
Telegram Announcements: https://t.me/oddz_fi_announcements
Hey, while you’re at it, come join UniLend’s social channels if you haven’t already to stay up-to-date on the latest on our collaborations with Oddz Finance and a number of other important DeFi protocols.
Official Twitter
Aishwarya Shivakumar: https://twitter.com/AishwaryaHs15
Shreedhar Shreenivasa: https://twitter.com/shreedharshetty
Ayush Garg: https://twitter.com/_ayushgarg
If you enjoyed our AMA Session, please share this with your friends: https://twitter.com/UniLend_Finance/status/1385311500575789056
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