Traders around the globe now have access to a hybrid cryptocurrency derivatives trading platform, Blockchain Board of Derivatives (BBOD), which has launched in partnership with GMEX Technologies and is enabled by GMEX’s Fusion Technology Suite.
BBOD’s co-founder and CTO Chris Urbanowicz, who earned his PhD in econophysics, had devoted his academic and professional career to traditional economics and quantitative trading. After years of planning, development, and funding, Urbanowicz and his team have now launched the world’s first hybrid cryptocurrency trading platform.
Until now, cryptocurrency traders have had to choose between centralised and decentralised trading platforms, with no options in between. Centralised exchanges process transactions quickly, but expose traders to security risks by requiring them to give up custody of their funds. Decentralised platforms offer enhanced security by keeping traders in control of their funds, but lag repeatedly and offer limited trading options.
Blockchain Board of Derivatives’ hybrid trading platform is designed to combine the speed of centralisation with the security of decentralisation.
In order to keep traders in control of their funds, Urbanowicz and his team designed a custody solution: the smart contract wallet system. Using this system, each trader creates their own wallet designed specifically for trading on BBOD. The platform then connects the smart contract wallets to its high-speed centralised GMEX Technologies matching engine, which processes 1,250,000 orders per second with an average latency of 75 microseconds. This allows traders to stay in control of their funds without experiencing the lags and delays associated with entirely decentralised platforms.
Blockchain Board of Derivatives also offers a wide variety of leveraged peer-to-peer cryptocurrency derivatives contracts, including: Ethereum-Dollar Perpetual; Ethereum-Dollar Futures; Bitcoin-Ethereum Futures, and Ripple-Ethereum Futures.
In addition, the platform’s native BBD tokens allow traders to save up to 20 per cent in fees. By combining the advantageous elements of leverage trading with the security of decentralised custody, Blockchain Board of Derivatives gives traders the potential to maximise profit whilst minimising risk.
“I am so filled with happiness and gratitude for everybody who worked with me to develop this trading platform,” says Urbanowicz. “In 2011, nobody believed in my vision. Now, people all over the world trade on BBOD. It started as a dream, and it grew into global movement. As we reflect on the past and move forward into the future, the team and I have made it our personal mission to continuously develop the platform. We’re constantly testing it, improving it, and looking for new ways to make it better each day. This is our journey. Through bold innovation and relentless perseverance, BBOD will continue to flourish as a platform, a team and a community.”
BBOD’s groundbreaking combination of decentralised custody, leverage trading, and high speed marks a new day in the world of cryptocurrency trading. Furthermore, it proves that with the right team, a powerful vision, and a whole lot of hard work, just about anything is possible.
Hirander Misra (pictured), CEO of GMEX Group and Chairman GMEX Technologies, says: “We are delighted that BBOD are now live with our latest GMEX Fusion technology suite encompassing an exchange trading platform, with full crypto asset support and blockchain integration, to trade Ethereum based derivatives with a combination of ultra-fast order matching, market surveillance, security of funds and full facilitation of margin trading.
“We are looking forward to continuing our work with BBOD to enhance their unique cryptocurrency derivatives Exchange.”