Value Networks’ Binary Options on Qtum Blockchain Experienced 200x Growth in DeFi
Decentralized Finance never ceases to amaze with records as more platforms gain success in this field. The decentralized Binary options platform and exchange Value Network stepped into the DeFi area and gained unmatched success in two days.
Reimagined with the help of blockchain technology, Binary options seem to become a no-brainer for new users. The MVP product on Qtum blockchain was presented by the VN team. This news has triggered unprecedented growth in VNTW token trading volume within just one day — as it stole the show on Uniswap! VNTW exchange rate grew more than 200 times: from $0,011 till $2,3.
The second chance can make all the difference as the latest success of the Value Networks project proves. Originally started in 2018 by Artem Levin, the VN has initially been created as the crypto-backed loans platform on Ethereum smart contracts. Having realized the potential of the emerging DeFi area, the project was re-started in September 2020 and with a new vector of development, it finally managed to capture the attention of the cryptocurrency audience.
Value Network provides decentralized binary options, P2P betting, and price oracles. The team is aimed to solve the Binary options market core issues. Putting the bets against each other on the Ethereum blockchain, they let users compete while there’s no conflict of interest involved unlike 99% of fiat platforms. Moreover, the UI interfaces are developed in a special way to provide an engaging user journey, resulting in a different experience compared to other existing blockchain prediction markets’ platforms. Also, users can see how their bet changes in price depending on the possibility of the outcome and replace their bets at any time for the additional fee.
The VNTW token is the core of the Value Network platform that plays a critical role in the ecosystem. It allows access to the exclusive markets, lowering commissions on the trades. The token is essential for creating the new markets, staking, and helping to secure the pre-timing escape of the deal. Moreover, the Value Network provides advertising possibilities on the platform. Listed on Uniswap in early January, allowing users to participate in 6 pairs, all with liquidity reward programs.
Value Network’s team is thrilled about the future of its platform. While being bullish on decentralized insurance, they are also excited about the implementation of DAO mechanics for the project’s community as well as exploring the potential use cases of highly popular NFTs.
Whitelabel solution and blockchain-based referral systems are planned for early 2021, boosting user adoption in the upcoming year.
The new roadmap will be carried out with direct cooperation with Qtum. On Value Network, users purchase options that are depending on the price of the underlying asset pairs, winning the funds of their counterparty in the event of a successful bet. For example — due to the current market situation it’s possible to make a bet and win up to 35%.
Moreover, the project community will be able to trade these options back and forth before expiry. Value Network traders can even create their own markets by staking VNTW — the native platforms’ token and facilitate trading, making a prediction market offering new derivatives correlated with crypto prices.
Finally, the much-needed mobile version of the application is also in the works and rumored to be implemented in the near future.