DERIVED is launching first ever Event Contracts on Arbitrum One
Today we are delighted to make an important announcement:
Event Contracts/Conditional tokens/Binary Options will be launching on Arbiturm One on 28.11.2022
To celebrate the launch event we will be arranging many contests on Twitter and Telegram so make sure to join us for the fun and events.
With the launch of Binary Options, Derived will be introducing the first ever Conditional Tokens/Event Contract on Arbitrum One. An event contract is a brand-new asset class that enables traders to base their decisions on their answers to a given yes-or-no question.
Event contracts are traded in markets by the users all around the world on the Derived Finance Platform. They are completely decentralized and permissionless and verifiable on chain. It enables the users to voice their opinions on a certain topic, major event, or trend. Every market has two sides, Yes and No, that address all potential responses to the question. As an trader, you buy Contracts based on whether you believe the answer to the market question will be Yes or No.
The difference in demand for Yes or No is reflected in the fluctuating price of the contract. For instance, if more investors want to buy the Yes side, the price would be greater; if more investors believe in the No side, the price of Yes will be lower than price of No. In this way, event contracts aggregate opinions and predictions across all traders.
Users can not only buy Yes or No positions but also sell these positions once the price moves higher or simply hold the position till expiry. If your response is correct, your side of the contract settles to $1 once the market closes or the event contract expires; if not, it settles to $0.
We are thankful to all the supporters and people who guided us in the journey so far. We are also thankful to our critics for finding mistakes in our work and helping us improve ourselves. We are very excited to share this update with you and it finally opens up one of the most exciting part of the platform and we would love everyone to use it and give us the feedback in our Telegram or Discord channels.
About Derived Finance
Derived is a Decentralized platform giving users access to trade Stocks, Commodities, Forex, or Crypto on a single platform. Derived offers several unique features such as No slippage DEX, Leveraged minting, Hybrid tokens, and Binary options.
