BBOD

BBOD

Foto lama

Zero-fee, Non-custodial Cryptocurrency Derivatives Exchange

About

BBOD (Blockchain Board of Derivatives) is a non-custodial, zero-fee cryptocurrency derivatives trading platform for retail and institutional clients, offering a secure and transparent marketplace to trade Bitcoin and a wide range of Altcoins futures contracts with a TUSD-stablecoin collateral.

Incorporated in the Republic of Seychelles, BBOD’s team consists of 35 people, including 25 in-house software developers in London, UK and Poland and has sales & marketing teams in Hong Kong and Seoul. Our core team consists of technologists and traders with 10+ years experience each from companies like State Street, Deutsche Bank, Coinone and University College Dublin.

BBOD partners with Trustoken (TUSD ) and with one of the most reputable electronic exchange operators worldwide – GMEX Group, who has developed and will host and manage the state of the art low-latency, high-throughput matching engine exclusively for BBOD. To get to know more about GMEX, please watch our interview with Hirander Misra – Group Chairman & CEO of GMEX Group and this interview with Tony Harrop, CIO & Director of GMEX Technology to find out why BBOD is going to offer the fastest and most reliable, high performance multi-asset matching engine in the cryptocurrency industry.

Our goal is to grow to the level of Bitmex and Huobi within the shortest possible time frame. We want to grow our technology department, acquire new users, grow our volume up as quickly as possible and build an engaged community of traders, therefore we will be conducting a pre-listing offering of our 8mln existing BBD tokens to help us reach the next level of growth. Do not miss the chance to buy BBD tokens cheaply before the first listing! Click here to learn more how to buy the next 100x token : https://bbod.io/offering

Our Trading Products

Spot / Futures markets

  • perpetual futures markets TUSD-settled, eg. BTC/TUSD.
  • perpetual futures markets BBD-settled, eg. BTC/BBD (to be launched on December 10, 2019)
  • spot markets BBD/TUSD, BBD/ETH, ETH/TUSD (to be launched on December 10, 2019)
  • fixed-date futures markets (to be launched on Q2/2020)

Multi assets platform

BBOD will list both crypto futures and traditional equity, fixed income, commodity and currency futures, vanilla options. In the first stage BBOD will list perpetual contracts on the following 17 cryptocurrencies: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, NEO, Tron, Binance, Litecoin, Stellar, Cardano, IOTA, Monero, NEM, ICON, Decred, Digibyte, all contracts vs. TUSD.

Vanilla futures contracts

The bulk of existing derivatives exchanges (Bitmex, Deribit) offer inverse futures – a futures contract quoted in one currency (e.g. USD) and settled in the other (e.g. BTC). This approach complicates the PnL calculation and selecting the size of the contract. BBOD offers vanilla futures contracts quoted and settled in one currency TUSD. This makes the PnL calculation straightforward: (Exit Price – Entry Price) times the number of contracts in the base currency.

Our Key Features

Zero-fee leveraged trading

BBOD will be the first Zero-Fee Crypto Futures Exchange to be launched on December 9th, 2019. There will be no transaction fees (zero) on the BBD-settled futures markets (eg. BTC/BBD perpetual contract). Traders need to use BBD token as a collateral, so balances and PnL is denominated in BBD. The price of e.g. BBD/TUSD will be fixed during the day and set as the close price from the previous day. During the trading session, % changes of BTC/BBD and BTC/TUSD indices will be the same. Every day at 0:00 UTC the BTC/BBD index will be updated based on the change in price at BBD/TUSD spot market.

Leveraged altcoins trading

The cryptocurrency derivatives space still lacks professional, secure and reliable marketplaces to trade small and mid-cap altcoins with relatively high leverage (10-25x). Due to low volume and high volatility of the smallest coins, an exchange is imposed on frequent and unpredictable liquidations. At BBOD we applied our proprietary smoothing technique in the index calculation which greatly reduces unnatural price spikes related to liquidity drainage. 

We hope that our sophisticated index calculation algorithm will allow us to become the most diverse, liquid and reliable marketplace to trade micro/small/mid-cap altcoins with high leverage, with the aim to list perpetual futures contracts on +50 cryptocurrencies by Q2/2020 and +100 by Q4/2020.

Every new cryptocurrency contract will be chosen by our community. We will organise a poll every week on Twitter and Telegram to ask our community which new contract they would like to be listed on our exchange next.

USD-based stablecoin settlement

Nowadays, at almost all exchanges traders need to post different collateral to be able to trade the whole range of products. An example of this is at Bybit with 4 collaterals (BTC, ETH, LTC, EOS) or Deribit with 2 collaterals (BTC, ETH). Universal USD-based collateral is a standard at established exchanges like CME, CBOE where most of the products are quoted in USD. You deposit USD to your broker and you can trade all the products using one universal collateral.

BBOD futures contracts are settled in USD-based collateral (currently TUSD). This means that profits, losses, account balances and margin requirements are denominated in the stable cryptocurrency. All the underlying assets may be traded using one universal collateral.

Unprecedented security : Non-custodial accounts

If you hold coins at any derivatives exchange (Bitmex, FTX, Bybit), please be advised that the owners of the exchange have full control and responsibility to keep the coins safe. The owners hold private keys to your coins. 

At BBOD custody of cryptocurrencies is completely separate from the exchange. As a result, our platform does not hold private keys to the client’s balances, instead each client holds their funds in a decentralised smart contract account. No private keys are created therefore the keys can not be stolen by hackers.

Transparency

All user balances are updated daily and visible on the Ethereum blockchain. This means that every day a user’s off-chain balance (at the trading platform) matches the on-chain balance (an ethereum contract account). This design allows BBOD to pass proof-of-solvency and proof-of-reserves audits using solely publicly available data. Members of the public may monitor: 

  • the total amount of funds at the exchange as a sum of all user balances
  • the number of users registered as a number of contract accounts created
  • daily amount of funds settled on the blockchain (realised PnL, fees, funding payments)
  • all user balances

BBOD Green Trading

The BBOD Team believes in ‘Healing Corporations’ – i.e. making the world a better place through business and their profits, as we are strongly convinced that business should be a catalyst for a better world. We decided to donate up to 15% of our all trading fees to selected foundations, and you, as a BBOD trader will automatically participate in the contribution just by trading on our platform. Starting on Q1/2020, from every month onwards we will organise a monthly poll on our Twitter and Telegram to ask our community to pick a charity organisation which will receive donations from BBOD. In the beginning of our journey we would like to support two foundations that truly touched our hearts; Plant-for-the-Planet and One Humanity Care.

Token Details

The native token of the platform is BBD which is an ERC-20 token with a total supply of 117,399,409 BBD and Max supply of 275,803,582 BBD. BBD is a utility token with several usecases such as use as collateral for margined positions on BBD-settled future market and opportunity of earning more in trading competitions. BBD tokens public offering is scheduled to take place on the 19th November till 3rd of December, 2019 with three different phases with discounts, also BBD tokens will be listed on BBOD on the 10th of December 2019 and also on other 2 exchanges at the end of 2020.

Conclusion

With my little experience in the cryptocurrency, getting involved in a worthy project like this in its early stage only comes once in a while because the industry is now diluted with lots of crappy projects, however BBOD is exceptional because its already live and on-boarding new clients. BBOD is here to set a new standard in the cryptocurrency exchange ecosystem and as such, I consider this project as one that you wouldn’t want to miss for anything, however, please perform your due diligence by checking up on the exchange website and whitepaper.

Author: Foto lama

My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1957113


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