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Opium: A Revolutionary Platform for Cryptocurrency Derivatives

Opium is a groundbreaking platform that enables the launch and trading of cryptocurrency derivatives.

Launched in May 2020, Opium operates on the Ethereum blockchain, providing a decentralized marketplace for cryptocurrency owners to participate in derivatives trading.

The platform's goal is to make financial derivatives accessible to everyone by utilizing the advantages of decentralization over traditional alternatives.

OPIUM, the native token of Opium, was introduced in January 2021 and has multiple functions, primarily focused on platform governance. Active users have the power to vote on crucial decisions concerning the platform's operations.

The Creators of Opium

Opium's team has been involved in developing decentralized finance (DeFi) tools since 2017. They have built three products based on the Opium protocol.

Andrey Belyakov, the CEO and co-founder of Opium, brings over 20 years of experience in professional derivative trading and fund management. He is a member of the Chartered Financial Analyst (CFA) Institute and has been active in the cryptocurrency sector since 2015.

Arjan van der Kooij, the second co-founder of Opium, is a Dutch entrepreneur and private investor with a focus on IT and technology startups.

Opium's Groundbreaking Characteristics

Opium aims to become the "Bloomberg of decentralized derivatives," as mentioned in its official whitepaper.

Built on the Ethereum network, Opium's platform allows anyone with a wallet to trade crypto derivatives and create and launch associated contracts.

Unlike traditional derivatives platforms, Opium was conceived prior to the DeFi movement gaining momentum. Its long-term strategy is to attract traders away from conventional platforms and accelerate the adoption of derivatives in the cryptocurrency landscape.

Trades on the Opium platform may incur an optional derivative fee, with 90% of the fee going to the creator and 10% retained by Opium.

Future plans include the launch of a V2 exchange and the implementation of Layer 2 functionality to mitigate the impact of high Ethereum gas fees on users.

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OPIUM Coin Supply and Distribution

OPIUM is the native token of Opium, built as an ERC-20 token on the Ethereum blockchain. The token will be released according to a specific roadmap after its launch.

Out of a total supply of 100 million tokens, 60% will be allocated to an active users fund. The users themselves will determine the release of tokens at set intervals and define the criteria for being considered "active."

Another 16% of the token supply will be allocated to investors and advisors, subject to a two-year vesting schedule.

The remaining 24% will be divided, with 14% going to the Opium team and 10% forming a Governance Reserve Fund controlled by users through a decentralized autonomous organization (DAO).

Ensuring the Security of the Opium Network

Opium has undergone a professional independent audit conducted by SmartDec, and the results are publicly available online.

SmartDec emphasizes that a single audit is not sufficient to guarantee the security of Opium's code.

Everyday users should be aware of the risks associated with derivatives trading. Without proper due diligence and a suitable strategy, significant losses can occur rapidly during periods of market volatility.

CoinMarketCap provides an introductory guide to

How to Acquire OPIUM

As of January 2021, OPIUM is not yet freely tradeable, as distribution has just begun. Currently, OPIUM is available on Zerion as of Jan. 28, 2021. More exchanges are expected to support OPIUM in the near future, and this information will be updated accordingly.

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