Opium adds Dutch auctions for options strategies

The Opium Protocol team added support for Dutch auctions for the DeFi Option Vaults product and other automated strategies.

We are thrilled to introduce Dutch auctions for DeFi Option Vaults and other automated strategies 🎊🎊🎊
Non-interactive, decentralised, gas- and price- efficient auctions are open to everyone; it will change the game🎯https://t.co/6HVkimzUzd pic.twitter.com/M1Z0ncdt2v

— Opium (@Opium_Network) June 7, 2022

“Thousands of traders and hundreds of liquidity sources participate in the auctions alongside private market makers and arbitrageurs,” said representatives of Opium Protocol.

The new feature saves gas, since takers require only one transaction to select a lot at the desired price.

“The price can decrease along a linear or exponential trajectory over seconds, minutes or even hours,” explained Andrei Belyakov, founder of Opium Protocol.

Last year the project released the governance token OPIUM as part of the drOpium liquidity mining model based on game theory.

Earlier, Opium Protocol launched a service insuring rental payments for fractional real estate purchased on the RealT platform.

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