Two months ago, we announced the new product and new ecosystem for NBX. (link)
Among those are the key details for our change which are:
- $BYN Airdrop Whitelisting
- Develop the newly designed platform
- Rebranding to NBX
- Airdrop $BYN to users and stakers
We are excited to share significant updates for our new product and features for our platform to better realize our vision for DeFi.
Introducing a new option platform
We have designed and started developing a decentralized European Options Trading platform.
Options are one of the biggest and most volatile markets. Traders can speculate on different assets on their own terms and expiry dates in accordance with their strategy.
We wanted to take this a little bit further.
The platform will have the following features:
- Fast — Settlement
- Our options will have a faster settlement than other platforms
- Expiry dates and strike prices will be more dynamic
2. Easy to trade with vanilla call and put options
- We think options must be easy to trade with simple UI/UX. Users may have the challenge to understand the greeks and strategies.
- This will lead to fractured liquidity across different expiry dates.
- Fractured liquidity leads to fewer users and lesser transactions.
- We think it needs to be unified with a single product with short timeframes for the retail to join and use decentralized options.
3. Utilize Liquid Staking Derivatives protocols in new vibrant ecosystems
- As we develop a whole new platform, we believe that it needs to find a new ecosystem that lies with new opportunities. We are planning to first launch the product on Binance Smart Chain while utilizing a liquid staking derivative protocol.
- Users will stake BNB or any liquid asset.
- Users are staking into a vault that compounds yield
- They get LSDs for longing calls or puts.
- This is a new paradigm where liquid staking assets can have more utility.
4. Easier Call/Put Function or UX
- It will be easier to trade calls and put options on our platform without understanding greeks or skew, enabling people to easily access to option market.
5. Unified Liquidity
- As we are combining all liquidity from different protocols and different assets, we believe this will lead to unifying liquidity and more users to trade on assets without losing yield or APY.
Paving the way for a gamified Option Finance
We believe derivatives will have a bigger dominance in DeFi as we have not seen active participants and builders.
As we expect to fully launch it within the first half of 2023, we believe our new platform can start that.
More Engagement on Discord
We will engage more with the community in Discord to avoid confusion with the previous product. This is to better facilitate new users and previous users to be all synced in the Defi space.
In the next announcement, we will post the google form link for applying the airdrop. We ask everyone to follow the format and submit it within the deadline.
Previously Beyondfi, NBX is a decentralized derivative platform that allows users to unlock the full potential of decentralized finance without limits. With prominent key partners including Huobi Ventures, Spark Digital Capital, and OKex Block Dream Fund, NBX values the decentralization and ethos of open finance.