CryptoCompare is very proud of how good its statistics are and how much ground it covers in the crypto world. The technology and API of the project want to make sure that its infrastructure is safe. The platform wants to give both individual and institutional investors access to information that will help them better manage their investment portfolios. CryptoCompare guarantees the accuracy of its data and follows the strictest rules. The initiative conducts frequent audits of crypto exchanges and is…
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.
In March, the 1inch app launched for Android users, one year after the IOS app went live.