It’s been an exciting month for Velocity, after our Demo day at International Blockchain Week in Shanghai, we’ve been contacted by so many interesting people sharing Velocity vision.
Built using blockchain technology and Ethereum smart contracts, the platform aims to make derivatives trading more transparent, accessible and secure. The decentralized options platform provides support for users to enter into a collar option using a smart contract on the Ethereum blockchain, a move claimed by the company as making it the first platform that doesn’t rely on central servers or “middlemen” settlement processes to manage funds. siliconANGLE
We launched our Demo Options website which uses the underlying smart contract on Ethereum Morden testnet. The feedback we got from community helped us to envision better use cases for this technology. We’d be happy to hear more in our public slack channel.
The decentralized options platform allows users to enter into a collar option using a smart contract on the Ethereum blockchain, meaning it doesn’t rely on central servers or middlemen settlement processes to manage funds. Each party purchases a contract by sending a small amount of ETH to the contract’s Ethereum address. Once accepted by the network, the contract will fetch a starting price from the oracle’s price feed, and run for a period of five blocks. Velocity Offers Smart Contract Price Feeds
We’re happy to announce that the main collar option smart contract is now open source, you can read more and check out the source code in our Github repo.
Originally published at blog.velocity.technology on October 7, 2016.