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Introducing BBOD: Zero-fee, Non-custodial Cryptocurrency Derivatives Exchange

One downside of trading Bitcoin and other cryptocurrencies is the high transaction fees for high-frequency traders. The problem with charging commissions on trades is that the most active traders are penalized and the exchange is cashing in more money on these users than it does from the regular mid or long-term investors.

If you search for a reliable marketplace where you can go long/short on a wide range of altcoins with high leverage, there are not many options to explore. Bitfinex offers a wide range of alts on the spot margin market but limits leverage to 3.3x. Bitmex offers contracts on 9 major underlying digital assets with relatively high lev (20-33x). Currently, the most diverse crypto derivatives market is FTX with perpetual contracts on 25 underlying assets.

Introducing BBOD: Zero-fee, Non-custodial Cryptocurrency Derivatives Exchange

BBOD 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. Unlike many exchanges and crypto projects who are issuing a coin offering, BBOD trading platform is already live and onboarding new clients. The team opened BBOD for business in October 2019 and already list 17 perpetual futures contracts.

BBOD's goal is to grow to the level of Bitmex and Huobi within the shortest possible time frame. BBOD Team want to grow their technology department, acquire new users, grow their volume up as quickly as possible and build an engaged the community of traders, therefore they will be conducting a pre-listing offering of BBOD existing tokens to help us reach the next level of growth.

BBOD will be the First Zero-Fee Crypto Futures Trading Venue

There will be no transaction fees (zero) on the BBD-settled futures markets (eg. BTC/BBD or ETH/BBD perpetual contract). Traders need to use BBD token as collateral. Balances and PnL are denominated in BBD. The price of e.g. BBD/TUSD will be fixed during the day and set as the close price of the previous day. During the trading session, BTC/BBD index will be the same as the BTC/TUSD index.

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 the low volume and high volatility of the smallest coins, an exchange is imposed on frequent and unpredictable liquidations. At BBOD they applied the proprietary smoothing technique in the index calculation which greatly reduces unnatural price spikes related to liquidity drainage.

BBOD Team hope that their 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 BBOD community. BBOD will organize a poll every week on Twitter and Telegram to ask the community which new contract they would like to be listed on BBOD exchange next.  

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.

BBOD Innovation, the BBOD Green Trading

The BBOD Team believes in ‘Healing Corporations’ – i.e. making the world a better place through business and their profits, as they are strongly convinced that business should be a catalyst for a better world. BBOD Team decided to donate up to 15% of BBOD all trading fees to selected foundations, and you, as a BBOD trader will automatically participate in the contribution just by trading on the BBOD platform. 

Starting on Q1/2020, from every month onwards BBOD will organize a monthly poll on BBOD's Twitter and Telegram to ask the community to pick a charity organization that will receive donations from BBOD. At the beginning of their journey that BBOD would like to support two foundations that truly touched the hearts; Plant-for-the-Planet and One Humanity Care.

BBOD Provide Ultimate Trading Features

#1 Spot / Futures Markets
BBOD offers 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)

#2 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.

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

#4 Platforms and Connectivity
Currently, BBOD Exchange offers a mobile “responsive” web App. In the next stage, BBOD will offer native Android App and native iOS App in Q2/2020. REST and WebSocket APIs will be offered in Q1/2020.

BBOD Token, The Core of BBOD Exchange Ecosystem

BBD overview BBD is the exchange token of BBOD. BBD is an ERC20 token. You can find it on BBD tokens will be listed on BBOD on 10th December 2019.
  • Total supply: 117,399,409 BBD (341 addresses)
  • Max. supply: 275,803,582 BBD (356 addresses)

Note: Max. supply is higher than the total supply because BBOD executed a ‘token migration’ in 2018. BBD token-holders migrated the tokens from the old contract address to the current contract address. As a result, BBD token-holders received additional BBD tokens. The split ratio was 100:1.

BBD Token Utility. First, Collateral: BBD is used as collateral for margined positions on the BBD-settled futures market (eg. BTC/BBD perpetual contract.) This increases utility and demand for BBD. Second Zero-Fee Trading: There are no transaction fees (zero) on the BBD-settled futures markets (eg. BTC/BBD perpetual contract). Then also Fee Discounts: Users pay reduced trading fees on the TUSD-settled futures market based on their BBD balance and daily trading volume. Staking tokens slows down the velocity of the coin and increases its value. Last but not least is for Rewards: Earn more in trading competitions when you hold the BBD Token. Gain access to a premium affiliate link.

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