Built on the Ethereum distributed ledger, the Blockchain Board of Derivatives (BBOD) is designed to be the world's first, autonomous, on-chain derivatives execution venue, which allows trading cryptocurrency smart derivatives contracts (futures and options) with high liquidity and unprecedented security. To enhance liquidity, we propose a hybrid market of (1) frequent batch auctions and (2) an autonomous market maker. The proposed design provides users with high liquidity at all times, reduce spreads, prevent "flash crashes" and improve traders' welfare. BBOD system uses elliptic curves post-quantum cryptography, which is secure against all known quantum algorithms and on-chain encrypt all sensitive transaction data like price and volume. The BBOD platform makes it possible to either protect cryptocurrency investments against crashes or speculate on price changes using a wide range of digital tokens (eg. Ethereum, Qtum, GNT). The platform’s roadmap lays out its future path to develop a turnkey solution in the form of one venue for cryptocurrency owners to trade derivatives, convert and list new tokens on the market.
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