In Today's Crypto Space, the One Word everyone is Scared of is "Volatility". The Bullish and Bearish Events are always keeping our Blood Pressure Pumping. In Such Circumstances it will be an Amazing Idea to Keep Trading with an Assurance of Not Loosing Everything Overnight.
Introducing Firmo, In the Latest Contest by @OriginalWorks I came across this Company Known as Firmo
Check out the Video above to get a Basic Idea about the Company in Just 2 Minutes.
Firmo has brought us the Opportunity to Experience the Ease of Financial Derivative.
I am Going to Try and Explain with an Example in My Style ;-)
- Darth Vader had Bought His Helmets at a Price of £100. Since the Darth Vader's Helmet is Trending in the Galaxy Market, the Price always Fluctuates. So Darth Vader is always worried about selling them and Making a Loss for himself when the Market Prices are Low and Vice Versa.
- Han Solo on the Other Side is Interested in Buying the Helmets as an Investment at a Price of £100 Per Helmet. Han Solo offers a Deal which will be Valid for a Specific Period of Time and During that Time the Deal will allow Darth Vader to Sell and Han Solo to Buy the Helmet at £100. But to Honour this Deal, Darth Vader will have to pay £10 for Each Helmet.
Welcome to Smart Contracts by Firmo - Darth Vader agrees with Han Solo's offer and Decides to enter into the contract with Han Solo. So Darth Vader pays Han Solo £10 for Each Helmet and get the rights to sell his Helmet to Bob at £100 Regardless the price.
- If the Market Price Increases within the Time Period agreed, Darth Vader will not sell the Helmet. Basically, Darth Vader will have the Peace of Mind and Han Solo will be Paid £10 Per Helmet.
- If the Market Price Decreases the Darth Vader can use his Right to Sell at the Agreed Price of £100 and Minimize his Losses and Han Solo in this Situation made a loss by buying the Helmet at a Cost above the Market Price.
- BB-8 is actually helping Darth Vader and Han Solo to Create a Smart Contract for Both of Them in the above Story.
So as you might have guessed, BB-8 is Firmo in this Case.
Firmo developed their own language called FirmoLang which Specializes in Smart Derivatives. More on : Firmo's Technical Paper
Firmo Official Website
Firmo's Technical Paper
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