News09 June

1inch is hooked on Opium

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Who's the favourite in your f@cking class? 1inch Network has announced an integration with derivatives platform Opium, which will allow users to play with all those Opium derivatives benefits right in the 1inch dApp. 

Cryptocurrency derivatives work similarly to option contracts, allowing users to buy insurance against, for example, a significant drop in the price of ETH or, conversely, bet on an increase in the price of ether.

Say a user can buy Turbo ETH with a strike price of $2,200, which means that if the price of ETH exceeds $2,200 at a specific date in the future, the user will automatically receive the difference between the price at the time of purchase and $2,200.

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