01 Protocol is a decentralized protocol (DeFi) built on the Solana Blockchain platform. The project aims to bring groundbreaking derivatives solutions on blockchain and provide an advanced options trading experience to users.
01 What is Protocol
Overview of 01 Protocol
01 Protocol is a decentralized protocol that aims to create an innovative derivatives trading environment on the blockchain. The main product of the project is Everlasting options, a type of options contract that never expires, helping users participate in options trading more easily and conveniently. This product is built on the Serum platform, a decentralized exchange built on Solana, to ensure honesty and trust in the trading process.
Products of 01 Protocol
Over-the-counter options trading has no expiration date
Unlike other derivatives exchanges, 01 protocol offers options contracts with no expiration date. This means that people just need to exercise their options contract and pay a premium to be able to maintain it.
For example: On March 23, 2023, Vuong Lam predicted that the market would increase in the near future, so Vuong Lam bought a BTC options contract at a price of $24,000/BTC. Like other options exchanges, they require users to determine the time for the contract to be executed. But at 01 Protocol, Vuong Lam only needs to pay the Premium fee to maintain his options contract until Vuong Lam exercises the option or runs out of money to maintain the contract.
Cross-chain mortgage
Another outstanding feature of a protocol is that people can mortgage their assets on different chains or LP Tokens obtained from providing liquidity to mortgage their positions.
Provides a decentralized Order book market
The protocol will leverage the liquidity available on Serum to connect to its options exchanges, which will make it easier for options transactions to be visible on centralized exchanges.
Transactions do not require trust
As a decentralized exchange, people only need to use non-custodial wallets, so the exchange will not control wallet passwords or user transaction data.
Development Roadmap
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Core Team
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Backer and Partners
On the website, it is announced that they are backed by many big names such as: Multicol Capital, Alameda Research, Ledger Prime, Patern, Solana Capital,…
Tokenomics
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Project Information Channel 01 Protocol
- Website: https://01.xyz/
- Twitter: https://twitter.com/01_exchange
- Discord: https://discord.gg/XwDDn3s5zs
- Telegram: https://t.me/onboard01
Summary
The 01 Protocol is a new and quite good idea, but with the market decline, there have not been many updates recently, the last time was in December 2022, and I do not see any movement. tokenomics launch. Perhaps the project is in a difficult period, everyone please follow me to update the latest information about the project.