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1inch Network Integrates With Opium to Provide Access to Derivatives Pools 

1inch – the leading decentralized exchange (DEX) aggregator platform – has announced an integration with the defi derivative platform Opium.

The integration will allow 1inch users to access Opium’s derivatives pools directly from within the 1inch app.

  • In a press release shared by 1inch, the company stated that all derivative pool transactions will be conducted through Opium’s smart contract.
  • Opium facilitates the trading, creation, and settlement of decentralized derivatives. It’s based on open-source smart contracts within the Ethereum network.
  • The crypto derivatives offered by Opium will operate like options contracts. Options let users purchase insurance on the price movements of a cryptocurrency.
  • A “call” option gives the holder the right to buy crypto at a predetermined price at a later date. Meanwhile, a “put” option offers the right to sell, if one suspects the price will decline later.
  • Users can receive fees from Opium in return for providing liquidity to its derivatives pools, generated by derivatives buyers.
  • According to projections, the Turbo1INCH derivatives pool will produce 8.9% annualized returns based on its performance at launch.
  • Opium also offers credit-default swaps for Tether (USDT), providing insurance in the event of Tether’s default.
  • During OPIUM’s $3.5 million private sale in 2021, buyers, including Galaxy Digital CEO Mike Novogratz and Alameda Research, invested in the protocol.
  • “Crypto derivatives is a promising segment in the deFi space, and this collaboration with Opium will open up new opportunities for 1inch users,” said 1inch co-founder Sergej Kunz on the partnership.
  • Besides Opium, 1 Inch integrated with Transak in April to allow for more fiat payment options within the platform.
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In March, the 1inch app launched for Android users, one year after the IOS app went live.

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