• Thu. Apr 25th, 2024

BitWell Will Launch On-Chain Options to Start a New Journey of Decentralization

TORTOLA, British Virgin Islands, Sept. 27, 2021 (GLOBE NEWSWIRE) — Recently, BitWell announced that it will launch on-chain options to start a new journey of decentralization. On-chain options will bring more comprehensive products and richer trading experience to users.

As BitWell users know, the platform first took options as a breakthrough and was the first in the world to launch DeFi options, which greatly lowered the threshold for users to participate in DeFi and was well received by the community, investors and the industry.

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Nowadays, with the continuous development of DeFi market and the improvement of Ether Layer2 performance, decentralized derivatives have become a popular trend in the digital asset field.

Therefore, BitWell will keep up with the times and follow the pulse of the industry to open up the development of decentralized products. For the first entry, the platform will likewise use options as a breakthrough, targeting DeFi and bringing users the new DeFi on-chain options.

In the context of accelerating global regulation, on-chain derivatives protocols are opening up to a rush mode. With the further development of blockchain performance and DeFi ecology, the scale migration of users to on-chain derivatives is being greatly accelerated, thus, the on-chain derivatives space is poised for tremendous growth opportunities.

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Unlike the order book of traditional options products, in order to make it smoother for users to trade on-chain options, get better liquidity, and operate more simply and transparently, BitWell’s foray into on-chain options contracts will innovatively adopt a point-to-pool model to concentrate liquidity in collateralized liquidity pools this time. These liquidity pools constitute a unified counterparty for all options with different terms, while providing full performance collateral for the options. Risk and options fees are shared equitably by all liquidity providers on a share basis, so that no individual user is at high risk and all participants share the benefits.

BitWell hopes that the two-way liquidity pool contract will bring users a better trading experience and provide a richer trading strategy.

Development of BitWell on-chain options has already started, and the team will strive to bring this product to users soon.

In the future, BitWell will continue to expand and develop more decentralized products, including more DeFi synthetic asset derivatives, distributed synthetic asset protocols and more. The team will rely on their existing mature product technology reserve to bring users more on-chain digital asset financial derivatives protocols, please stay turned!

Media Contact

Company Name: BitWell Technology Limited

City, State, Country: Tortola, British Virgin Islands

Address: 3rd Floor, J&C Building, Road Town, Tortola, British Virgin Islands, VG1110

Contact Person: Xu Xiuqing

Email: [email protected]

Tele: 16213620261

Website: https://www.bitwellex.com/

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Kevin Moore - E-Crypto News Editor

Kevin Moore - E-Crypto News Editor

Kevin Moore is the main author and editor for E-Crypto News.