FinNexus Protocol is a decentralized non-custodial protocol for writing, trading, and exercising options with pooled liquidity. The protocol is now launched on Ethereum, Binance Smart Chain and Wanchain, and will be accessible through a single interface that supports all the blockchains. Later, FPO contracts will be deployed on other chains.
FinNexus's main product is FPO (FinNexus Protocol for Options). FPO v1.0 is a universal options protocol that enables the creation and trading of options or other derivatives from any type of underlying asset based on the collateral held in liquidity pools.
An option is a binding contract that allows you (as the buyer) to sell or buy an underlying asset (goods, stocks, indexes, etc.) at a predetermined price within a set time frame. You, as the buyer of an option contract, have the right, but not the obligation, to buy or sell the underlying asset. At present it supports $BTC, $ETH, $MKR, $SNX and $LINK options.
You can customize your options with your desired terms. For example, first, choose a cryptocurrency for your options, find and choose/type in the options type, size, strike price, expiration and payment that may suit your needs.
The protocol has an $FNX Liquidity Mining feature. You can earn rewards by providing liquidity to $FNX.
There are 4 pools for you to select: $USDC, $USDT, $FRAX and $FNX. The best APY is up to 377.38% at the time of writing.
The dashboard demonstrates that $FNX token price has a high correlation with FinNexus on-chain users and transactions. After the daily transactions hit ATH on 25th Jan and daily users hit ATH on 1st Feb, $FNX token price also broke ATH $0.922595 on 16th Feb 2021.
If you’d like to trade $FNX, you can watch closely on FinNexus on-chain performance.
You may also like: