Opium OPIUM Price

What is Opium (OPIUM)?

Opium is a decentralized finance (DeFi) protocol built on the Ethereum blockchain that allows users to create, settle, and trade cryptocurrency derivatives. Founded in 2017, Opium aims to democratize access to derivatives trading and is designed to attract traders from traditional finance platforms.

Founders of Opium

Opium was co-founded by Andrey Belyakov and Arjan van der Kooij. Belyakov, the CEO, has over 20 years of experience in professional derivative trading and fund management. He has been involved in the cryptocurrency sector since 2015. Van der Kooij is a Dutch entrepreneur and investor focusing on IT and technology startups.

Unique Features of Opium

Opium aims to be the "Bloomberg of decentralized derivatives." The platform allows anyone with a cryptocurrency wallet to trade crypto derivatives and launch associated contracts. Opium was developed before the DeFi movement gained popularity, with a strategy to draw traders away from conventional derivatives platforms. The platform charges an optional derivative fee, where 90% goes to the contract creator and 10% to Opium.

Future plans include the launch of a version 2 (V2) exchange and Layer 2 functionality to reduce the impact of high Ethereum gas fees on users.

Opium Token (OPIUM)

The native token of the Opium platform is OPIUM, an ERC-20 token on the Ethereum blockchain. There is a total supply of 100 million OPIUM tokens. Of this, 60% will be allocated to an active users fund, with users deciding how many tokens to release at intervals. Another 16% will be distributed to investors and advisors, and 24% will be split between the Opium team and a Governance Reserve Fund, which will be managed by the community through a decentralized autonomous organization (DAO).

Security Measures

Opium has undergone a professional audit by SmartDec to ensure its code's security. However, the audit's results highlight that one audit alone cannot guarantee complete security. Users should remain aware of the risks associated with trading derivatives, especially during volatile market conditions.

Conclusion

Opium is a unique protocol in the DeFi landscape, offering a transparent and trustless ecosystem for trading derivatives. With its community-driven governance model and innovative features, it aims to redefine how traders engage with derivatives in the cryptocurrency space.

What is unique about Opium (OPIUM)?

Opium stands out as a decentralized finance protocol that aims to be the "Bloomberg of decentralized derivatives," allowing anyone with a cryptocurrency wallet to create and trade derivatives while utilizing a community-driven governance model.

Who are the founders of Opium (OPIUM)?

Opium was co-founded by Andrey Belyakov, an expert in professional derivative trading with over 20 years of experience, and Arjan van der Kooij, a Dutch entrepreneur focusing on IT and technology startups.

Who are the backers/investors of Opium (OPIUM)?

While specific backers and investors are not disclosed publicly, Opium allocates 16% of its OPIUM token supply to investors and advisors, with a broad two-year vesting schedule.

Where can I buy Opium (OPIUM)?

 Sushiswap, Bancor (V2)