Review on Opium Network by Douglas Cachazo
Opium Network: Exchange whose raison d'être is derivatives
Since the creation of smart contracts have emerged a countless number of features that can be used in the exchange houses in order to create new forms of marketing based on cryptocurrencies, one of these modalities are the derivative contracts in which there is a winning and a losing party.
They are based on smart contracts that at a fixed time the condition of the contract will be executed. For example, you could create a derivative underlying the price of the dollar at a certain time and bet an amount of cryptocurrencies that it will go up or down, if it goes up the people who bet on going up will win, those who did not will have lost an agreed percentage.
This project facilitates and aims to trade this type of business, but not only you can enter to make transactions in derivatives, but you can create your own derivatives markets,
It is based on the ethereun platform and for derivatives it uses an ethereun token of the ERC20 type.
If you are well advised it will be a good way to make money in the future, not only advised on what to bet, but also on how to do it, since traditionally it is not easy to operate.
The Exchange is fully decentralized and if you invest in your governance token you will become part of the community for decision making, your vote will be worth.
Pros
- Produces liquidity with derivatives
- Makes it easy to trade and create derivative market contracts
- Backed by several companies
- Good partner companies
Cons
- Web with little vital information about the project.
