What is Oddz
What Is Oddz (ODDZ)?
Oddz aims to build a multi-chain options and derivatives trading platform on Binance Smart Chain, Polkadot and Ethereum, enabling users to trade customized options with rewards. It will be leveraging layer 2 solutions and relayer networks to solve the latency and lowering the gas fee for Ethereum transactions.
The project was founded in late 2020, and the whitepaper was published on Mar. 1, 2021 and an initial DEX offering (IDO) was held on Mar. 18, 2021, selling 900,000 tokens to hundreds of supporters. It was already backed by several industry leading investment funds, including AU21 Capital, Woodstock and NGC ventures.
Who Are the Founders of Oddz ?
Oddz team is unique among the majority of crypto projects because it is led by a female CEO, Aishwarya Shivakumar, while all of the startup leadership is of Indian descent.
Aishwarya Shivakumar, before founding Oddz, had several positions where she was responsible for social media marketing in Indian companies such as Etudemy and Laetus, lasting from 2-10 months. She has a bachelor's degree in electrical, electronics and communications engineering from the Global Academy Of Technology
Shreedhar Shreenivasa is a co-founder and CTO at Oddz. Before joining the project, he was been a software developer at Uber for three years, tech lead in Practo, UI developer at Flipkart and front end engineer at Cleantrip.com
Krupa Sagar(Principal Engineer) has ten years of experience building production-ready software employing scalable architecture, distributed computing, microservices, test-driven development, cloud & on-premise infrastructure.
Bhargav Kacharla is a senior software engineer with prior experience at Rakuten, OpenText and Tata Consultancy Services and has certified level of blockchain knowledge.
Kantharaju Gowda is a chief business development officer at Oddz, previously working at Bounce, RCube and for seven years at Cleantrip.com. He has a bachelor's degree in economics from the University of Mysore.
What Makes Oddz Unique?
As projected, Oddz will facilitate the creation, maintenance, execution and settlement of trustless option contracts, conditional token agreements and futures contracts, acting as some sort of an automated market maker (AMM). It aims to become a player in the DeFi ecosystem by simplifying derivatives trading and enhancing the user experience. Key proposed features include blockchain-agnostic seamless integrations with DeFi platforms and multi-chain trade, customizable automated options, zero gas fees and an inbuilt oracle to accurately retrieve real-time market data.
The ODDZ is the native utility token representing the Oddz Protocol and its ecosystem. The token is the central point of the incentivization structure on the Oddz Protocol and its governance models. It will be used for the following: protocol transaction fees, staking and yield farming, decentralized governance, referral bonuses and as a reward mechanisms for providing and validating accurate data. Staking in Oddz works by the following principle: the user locks his tokens to facilitate transactions and then earns a share in settlement fee. The mechanism of decentralized governance for Oddz is not yet described, but it will allow users to actively participate in major protocol proposals and upgrades.
Learn about yearn.finance, one of the biggest names in DeFi ecosystem
New to DeFi? Learn more about it here.
Crypto newbie? Discover everything you need to know with Alexandria, CoinMarketCap’s dedicated education resource.
Check out our blog for the latest news in crypto and blockchain.
How Many Oddz (ODDZ ) Coins Are There in Circulation?
The maximum total supply is 100,000,000 ODDZ coins.
According to the plan, 8% is allocated for Seed Sale, 15.8% will be allocated to private sale with tokens vested for 12 months with 15% released at the TGE, 0.5% tokens are allocated to early supporters and 1.2% tokens will be allocated during the public sale.
Oddz Finance will have 42% tokens allocated for its own operations, including 18% for platform and community development, 4% for security and alignment fund, 10% for marketing and 10% in a reserve fund.
Only 15% of tokens will become staking rewards.
The Oddz founding team and advisory board will be allocated 16.5% ODDZ with a vesting schedule of 3 years with 25% being unlocked every six months after a six months cliff.
The initial circulating supply of $ODDZ token will be 9,220,000, i.e. 9.22% of the total aggregate supply. This would comprise 800,000 from seed investors, 2,370,000 from private investors, 1,700,000 from both early supporters and public sale, 1,800,000 from the ecosystem, 150,000 from strategic rounds, 400,000 from the security & alignment fund, 1,000,000 from marketing and 1,000,000 from reserves.
How Is the Oddz Network Secured?
Currently, ODDZ is a standard ERC-20 token, meaning that it runs on and is secured by the Ethereum blockchain. Ethereum, in turn, is secured by its Ethash proof-of-work function.
ERC-20 merely defines a set of rules for tokens, as well as security considerations mainly related to the strength of the Ethereum network. For example, congestion can hike the price of gas needed to perform transactions, leading to delays and abnormally high transaction fees, which impact all participants.
Separately, smart contracts can cause security issues that could lead to DeFi traders losing funds; in fact, hackers have already succeeded in stealing millions of dollars in DeFi’s short lifetime as of March 2021.
Where Can You Buy Oddz (ODDZ)?
ODDZ has only recently become available into the market, so the number of places where one can buy it is yet limited as of March 2021. Available exchanges for trading in Oddz are currently Uniswap (V2), Bilaxy, and 1inch Exchange with trading paris against Ethereum. You can find others listed on our crypto exchanges page.
Want to learn how to buy Bitcoin (BTC)? Look no further, here is our guide.