}
We are thrilled to announce that Oddz Finance is integrating with Polygon (formerly Matic Network), a layer 2 scaling solution that will help scale Oddz Finance by handling transactions off the main Ethereum chain. We are pleased to say that Oddz Finance will be the first multi-chain options trading platform to have integrated with Polygon!
Snapshots:
- Oddz Finance integrates with Polygon to improve the user experience on the platform by reducing the gas fees and increasing the transactions per second (TPS) on the platform.
- Oddz Finance will be the first options trading platform to have partnered with Polygon.
- This partnership with Polygon adds to our broader vision of bringing DeFi and options trading to more people.
High gas fees have been one of the major hurdles that have prevented the adoption of DeFi to its full potential. There have been times when people paid a lot of gas fees due to network congestion issues. This integration with Polygon will allow options traders on Oddz Finance to execute contracts in a simple and secured manner. Due to the high throughput on Polygon’s network, users will be able to buy call and put options on the go! This partnership with Polygon, therefore, adds to our broader vision of bringing DeFi and Options Trading to more people.
We’re pleased to welcome Oddz Finance’s On-Chain Option Trading platform to Polygon, allowing traders to leverage Polygon’s high-speeds to expedite the execution of contracts, trades and futures, all while ensuring an affordable on-chain experience.
Arjun Kalsy, VP - Growth, Polygon
We have chosen Polygon because of the following features:
- Scalability: Integration with Polygon means that we will get access to low-cost and secure transactions on Polygon. This will help in bringing mass adoption of DeFi within the mainstream.
- High Throughput: As compared to the 15 TPS (transactions per second), Polygon can achieve up to 7,000 TPS on a single sidechain, as seen on Polygon’s internal testnet. This will help Oddz Finance scale its operations and make options trading a seamless process.
- User Experience: Most people tend to avoid DeFi protocols because of the high gas fees and low transactions per second. One of the main reasons to partner with Polygon was to ensure that users enjoy Options Trading on DeFi at least as much as they do on centralized exchanges.
- Security: Polygon uses an efficient and low-energy Proof of Stake (PoS) model to secure its network and achieve consensus. Security on Oddz Finance is of utmost priority and Polygon will help us in fulfilling that criteria.
We do not want options traders to complain about the high gas fee or low throughput on our platform. Layer 2 solutions, like Polygon, are the best way forward. Happy to join hands with Polygon to make options trading on DeFi a cakewalk!
Aishwarya Shivakumar Haroshivanahalli, Co-Founder and CEO, Oddz Finance
Adding to the fact that Polygon improves the functionality of the Ethereum blockchain by drastically increasing its network scalability and overall transaction speed, our partnership with Biconomy will help provide a zero gas fee model to the users. This will ensure that not only will the throughput be high, but the gas fee for our users will also be almost negligible.
About Polygon
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scalability solutions have seen widespread adoption with 200+ Dapps, ~23M txns and ~364K unique users.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
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About Oddz
Oddz Finance is a trustless On-Chain Option trading platform that expedites the execution of call and put options contracts, conditional trades, and futures. It allows the creation, maintenance, execution, and settlement of trustless option contracts, conditional tokens agreements, and futures contracts in a fast, secure, and flexible manner.
It employs the synergies of Ethereum, Binance Smart Chain, and Polkadot to unleash the potential decentralized derivatives market. It focuses on building solutions that can propel the DeFi ecosystem by simplifying derivatives trading and enhancing the user experience.
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