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FAQ
How does Opyn work?
Opyn operates as a decentralized trading platform that allows users to create and trade perpetual contracts on ERC-20 tokens. It utilizes an automated market-making vault, which facilitates liquidity provision and enables users to earn fees from trades. This structure promotes capital efficiency and enhances the overall trading experience for participants.
Is Opyn a secure platform?
Yes, Opyn prioritizes security by employing a non-custodial approach, meaning users retain control over their assets at all times. The platform leverages the Ethereum blockchain's inherent security features, ensuring transparency and immutability in transactions. Additionally, it utilizes oracles for accurate pricing, further enhancing the reliability of trades, despite one must remember about the inherent risk of trading.
How to use Opyn?
To use Opyn, users first need to connect their Ethereum-compatible wallet, such as MetaMask, to the platform. Once connected, they can create or trade options and perpetual contracts by selecting the desired ERC-20 tokens and specifying their trading parameters. Users can also provide liquidity to the automated market-making vault to earn fees passively.
What services does Opyn offer?
Opyn offers a range of services including decentralized trading of perpetual contracts and options on ERC-20 tokens. Users can engage in various trading strategies while benefiting from an automated market-making system that allows for passive income through liquidity provision. The platform also aims to enhance capital efficiency for traders and liquidity providers alike.
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