What is Synquote? What are the highlights as well as the development orientation of Synquote in the Options Trading industry in the coming time? Let’s find out in the following article.
What is Synquote?
Synquote is a decentralized options trading platform that is planned to develop into multiple chains starting with Polygon, BNB chain and Avalanche in the near future and the project will be deployed on Arbitrum.
To better understand Synquote, we need to distinguish between two types of European and American options:
- European style: Investors can only exercise buy/sell options at the time the contract expires.
- American style: Investors can exercise options at any time between contract opening and expiration.
Due to the problem of “liquidity”, currently, in the Crypto market, most options exchanges choose to deploy the protocol according to European style instead of the American style and Synquote is no exception.
What Are The Highlights Of Synquote?
- Simple UI/UX interface: Synquote develops a simple interface to help newcomers quickly get acquainted and perform basic operations such as placing orders to buy/sell Call/Put Options contracts easily.
- Cross-chain bridge integration: Synquote integrates a bridge supporting 8 different chains into the dapp to help users transfer assets easily and quickly.
- Knowledge support for users: Synquote produces a lot of educational content to equip new investors with knowledge as well as introduce more popular investment strategies to be profitable when trading options.
- Building a set of indicators to support traders: Synquote builds a set of Delta, Gamma, Theta, Vega, RHO indexes to indicate specific risks and price changes, thereby contributing to supporting investors in the decision-making process.
Synquote’s Development Roadmap
Synquote is currently in the early stages of construction and does not have specific roadmap information yet.
Currently, Synquote is supporting the trading of two types of assets: BTC, ETH on Polygon and BNB on BNB Chain. In the future, the project plans to add AVAX, LINK, MATIC tokens and expand to the ecosystem. Avalanche and Aribitrum.
Core Team
Synquote is headquartered in San Francisco. Since it was newly established, the current staff has 4 people and the company is also actively recruiting more to prepare for upcoming plans/
Ahmed Attia | Founder – CEO: Ahmed used to work as a software engineer at Google and Databrick – a unit specializing in providing data to more than 7,000 large and small organizations around the world.
Noor Jahangir | Software Engineer: Noor has nearly 5 years of experience as a software development engineer at Amazon.
Joanne Buckley | Growth Strategist: Before joining Synquote, Joanne had experience as Marketing Director of Minke – a non-custodial Wallet project on polygon. In addition, he was also a development partner of the unblcd project, a collaborative project. Collaborate on content creation for web projects 3.
Investor
Synquote received $2.8M in Seed round from 6 prominent investors including Coinbase Venture, Polygon and Ryan Selkis – founder of Messari.
Tokenomics
Currently, the project has no official information about Tokenomic.
Trading Platform
Update….
SynQuote’s Information Channel
- Website: https://app.synquote.com/
- Twitter: https://twitter.com/Synquote
- Discord: https://discord.gg/synquote
Summary
Hope this article has partly helped you understand What is Synquote? as well as the highlights of this project.
Recently, Options Trading has been integrated into their App by major exchanges such as Binance or OKX, which predicts that this segment will likely become a trend in the near future. However, in the decentralized world, development protocols in the field still have many problems to solve, especially in terms of liquidity, trading differences and smart contract security. This is both a challenge and a great opportunity for new projects like Synquote to exploit and develop in the future.