FAQ
What is unique about Opium.Exchange? Trading derivatives used to be complicated process, but modern technology allows everyone to instantly trade them for anyone who has a crypto wallet.
What do you need? All you need is to have a crypto wallet and chose the appropriate ticker of the financial instrument. The rest will be taken care by the blockchain. It is a trustless agent at the same time.
Why to trade derivatives and who needs them? Almost anyone traded a derivative in his life. It may be a sport bet, insurance contract or future for the company shares. With the modern technology it is cheaper and easier at the same time.
What are derivatives? Formally speaking the derivative is a contract between two counterparties according to which one side will be paying to another based on the agreed term and conditions. Most of the time those terms and conditions are related to some underlying asset.
What are the risk of this new technology? Doing derivatives trading on a blockchain involves blockchain specific risks and financial risks of the derivative itself. Blockchain's specific risks are getting lower since the technology maturing very fast and it is already trusted for millions and millions of euro.
What instruments Opium.Exchange has at the moment? We have started with basis instruments that has high liquidity, but we are adding more complex derivatives constantly. Because Opium.Exchange is based on the Opium Protocol it is easy to add any derivative that can be described in a Turing complete language.
How can I start? We provide a test version that is identical to the real one but runs on the test-net of Ethereum. It allows to get free test stable coins and try the functionality of the platform. Users familiar with trading can directly log in to the main Ethereum and start trading.