Opium Protocol

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Frequently asked questions

What is Opium Protocol?

Opium Protocol is an open source codebase founded and initially developed by Blockeys B.V. It is a web3 protocol for creating, settling, and trading any decentralized derivative. The protocol serves primarily the community of experienced DeFi professionals who can evaluate associated risks, including technical failure and permanent capital loss. Opium aims to bring ownership to individuals in the creation of derivative products.

Who is Opium Protocol primarily for?

Opium Protocol is primarily for the community of experienced DeFi professionals who are able to evaluate associated risks, including technical failure and permanent capital loss.

What are the main features of Opium Protocol?

products.

The main features of the Opium Protocol include:

1. Open source codebase: Opium Protocol is built on an open source codebase founded and initially developed by Blockeys B.V.

2. Innovative technology: Opium Protocol provides innovative and cutting-edge technology that is yet to be proven by time.

3. Beta version: The Opium Protocol is currently in beta, serving primarily the community of experienced DeFi professionals.

4. Decentralized transactions: The protocol enables and enforces transactions between two or more parties without the need for a traditional centralized intermediary.

5. Unique costs and benefits: DeFi tools, including the Opium Protocol, have their own unique costs and benefits, risks, and protection mechanisms. It is important to understand these factors before using any of the Opium products.

6. Evaluation of risks: Users of the Opium Protocol, particularly experienced DeFi professionals, should be able to evaluate associated risks, including technical failure and permanent capital loss.

It is important to note that the Opium Protocol is still in its early stages and users should carefully consider the risks and implications before using any of its products.

How can I earn yield with Opium Protocol?

To earn yield with Opium Protocol, you can participate in the decentralized derivative instruments offered on Opium.finance. These derivative instruments allow you to trade and speculate on various assets without the need for coding knowledge. However, it's important to note that derivatives with cryptocurrencies or any other asset class as a reference are highly risky and can lead to major losses. Before using any of the Opium Protocol's features, it is crucial to fully understand how the software operates, the incentive mechanism it employs, and the protocol-specific risks involved.

Is coding experience required to use Opium Protocol?

No, coding experience is not required to use Opium Protocol. Opium.finance, which is part of the Opium ecosystem, allows users to access decentralized derivative instruments without coding knowledge.

How does Opium Protocol settle contracts?

The Opium Protocol settles contracts through an auction mechanism. This robust method of contract settlement ensures that contracts are settled in a decentralized manner.

What other projects are part of the Opium ecosystem?

The other projects that are part of the Opium ecosystem include Opium.finance, Opium.research, The Art Exchange, and Oh My Opium. Opium.finance allows for the creation of decentralized derivative instruments without coding knowledge. Opium.research provides decentralized derivatives market analytics. The Art Exchange offers decentralized financial instruments on the art market. Oh My Opium is an IPFS platform built by the community.