Diving Board: A New Crypto Startup for Options Trading
Diving Board, a crypto startup, has officially launched its platform for options trading. The project utilizes decentralized data warehouse Space and Time (SxT) to power its algorithms and ensure data privacy through zero knowledge proofs.
The Alpha Release of Diving Board
The alpha release of Diving Board allows DeFi traders to explore and familiarize themselves with the options platform. The platform supports numerous markets, including ADA, ALGO, AAVE, and more, typically paired against BTC. It currently has 29 active pools and users can also create custom ETFs and indexes.
Founder Vinita Rathi explains that Diving Board is built on Space and Time’s verifiable compute layer to provide accurate and tamper-proof data for informed trading decisions.
Options Trading for DeFi Traders
Options trading is a derivatives trading strategy that gives traders the freedom to not hold the underlying asset. In the crypto context, BTC options are commonly traded, but other assets like ETH can also be traded in the same manner. Traders take out contracts that give them the right to buy or sell an asset at a specified price on a specific date.
Experienced traders who understand the risks involved prefer options trading. It offers market exposure over a longer timeframe with lower fees compared to perpetual swaps. While platforms like GMX, GNS, and Pika Protocol serve DeFi traders well with onchain perpetual swaps, the alpha release of Diving Board provides an alternative for options trading.
The Role of Data in Diving Board
Space and Time’s verifiable compute plays a crucial role in powering Diving Board’s aggregations and algorithms by providing reliable data. Users of the alpha release can access data for specific asset pairings, including yield, market cap, and active wallets trading the contract.
Hot Take: Diving Board’s Launch Marks a New Era for Options Trading
Diving Board’s official launch signifies a significant step forward for options trading, moving it beyond being a niche product for sophisticated crypto traders. The integration of Space and Time’s verifiable compute demonstrates its utility as the go-to solution for onchain data in the industry.
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