Log in/ Sign up

About OPIUM

Opium Network includes Opium Exchange, decentralized derivatives exchange and Opium Fiance, DeFi insurance business. Its insurance business operates through the construction of staking pools and the tokenization of insurance policies.The Opium protocol is a smart escrow that enables two parties to make a trustless contract and holds an asset on their behalf until contract terms are fully or partially fulfilled. It is used when two parties are in the process of completing a transaction, and there is uncertainty over whether one party will be able to fulfill their obligations or when the transaction depends on an outcome of a future event. A safe accepts an asset according to a rule and releases it in some time according to another rule that depends on an oracle. Oracle communicates to the escrow whether the desired event occurred or not or provides some numerical data and thus triggers the execution of the transaction. A very simple example of how an escrow works would be hiring a freelancer to perform some tasks. Parties agree on parameters, such as scope, deadline and remuneration, and create a safe. A hiring party deposits money. After the deadline, an oracle reports how much work is done. Depending on how much work is completed, the safe will give the freelancer either a percentage or the full sum.One doesn’t need any technical knowledge to create an escrow or safe; once created, a safe will work endlessly as programmed. Anyone interested in entering a contract with the same parameters can use the existing escrow. The contracts are always made between two people, and there is no risk to affect the agreements of other users.

Opium (OPIUM) is a cryptocurrency launched in 2021. OPIUM has a current supply of 100.00M with 4.16M in circulation. The last known price of OPIUM is 0.057410536438 USD and is 0.001867261842 over the last 24 hours. It is currently trading on active market(s) with $13,360.87 traded over the last 24 hours. More information can be found at https://opium.network/.

Official Website

Social Media

OPIUM Price Statistics
OPIUM’s Price Today
24h Price Change
+$0.0018672618423.36%
24h Volume
$13,360.872.61%
24h Low / 24h High
$0 / $0
Volume / Market Cap
0.055927346297
Market Dominance
0.00%
Market Rank
#2412
OPIUM Market Cap
Market Cap
$238,896.95
Fully Diluted Market Cap
$5.74M
OPIUM Price History
7d Low / 7d High
$0 / $0
All-Time High
$0
All-Time Low
$0
OPIUM Supply
Circulating Supply
4.16M
Total Supply
100.00M
Max Supply
100.00M
Updated Nov 07, 2024 2:24 pm
image
OPIUM
Opium
$0.057410536438
$0.001867261842(+3.36%)
Mkt Cap $238,896.95
There's nothing here for now

Frequently Asked Questions

  • What Is Opium (OPIUM)?

    Opium is a new platform for launching and trading cryptocurrency derivatives.

    Having begun operations in May 2020, Opium uses Ethereum to run a decentralized derivatives marketplace in which any cryptocurrency owner can participate.

    The aim of the platform is to democratize access to financial derivatives while using the benefits that decentralization affords traders over legacy alternatives.

    Opium’s in-house token, OPIUM, launched in January 2021 and will fulfil various roles mostly centered around platform governance. Active users will be able to vote on some of the most important decisions involved in the platform’s operations.

    Read More
  • Who Are the Founders of Opium?

    Opium has a team involved in the creation of decentralized finance (DeFi) tools since 2017. These include three products built on top of the Opium protocol.

    The platform’s CEO and co-founder is Andrey Belyakov. A member of the Chartered Financial Analyst (CFA) Institute, Belyakov’s experience lies in the professional derivative trading and fund management sectors, in which he has over 20 years’ experience with assets under management portfolios of €20 million and over. He has been involved in the cryptocurrency sector since 2015.

    Arjan van der Kooij, Opium’s second co-founder, is a Dutch entrepreneur and private investor with a focus in IT and technology startups.

    Read More
  • What Makes Opium Unique?

    Opium in its official whitepaper states that it aims to become the “Bloomberg of decentralized derivatives.”

    Built on the Ethereum network, its platform allows anyone with a wallet to begin trading crypto derivatives and build and launch associated contracts.

    Begun before the DeFi movement appeared, a longer-term strategy has always been to attract traders away from traditional derivatives platforms. When the first Bitcoin (BTC) derivatives launched in the form of futures in late 2017, the floodgates were opened, but it took a long time for genuine interest to soar and for derivatives to become part of the cryptocurrency landscape. Opium intends to speed up the process by democratizing entry.

    Trades on the Opium platform attract an optional derivative fee, which if implemented sees 90% go to the creator and 10% retained by Opium.

    Future plans include the launch of a V2 exchange, as well as so-called Layer 2 functionality which will decrease the likelihood of users facing losses when Ethereum gas fees become overly high.

    Read More
  • How Many Opium (OPIUM) Coins Are There in Circulation?

    The in-house token of Opium is OPIUM. Built as an ERC-20 token on Ethereum, OPIUM will be released according to a specific roadmap after launch.

    Out of a total supply of 100 million, 60% of the tokens will go towards an active users fund, with users themselves deciding how many tokens will be available for release at set intervals. Users will also decide on what level of engagement constitutes being “active.”

    Another 16% of the supply will go towards investors and advisors with a broad two-year vesting schedule.

    The remaining 24% will be split — 14% will go to the Opium team, while 10% will form a so-called Governance Reserve Fund, once again under the control of users via decentralized autonomous organization (DAO).

    Read More
  • How Is the Opium Network Secured?

    Opium completed a professional independent audit of its operations using SmartDec, the results of which are publicly available online.

    SmartDec offers a disclaimer that a single audit is not enough to be entirely certain of the security Opium’s code.

    For everyday users, standard risks include those involved with derivatives more broadly. Without due diligence and a suitable strategy, it is possible to lose large amounts of money very quickly during times of market volatility.

    CoinMarketCap has a dedicated introduction to crypto derivatives which offers more information.

    Read More
  • Where Can You Buy Opium (OPIUM)?

    OPIUM is not yet freely tradeable as of the time of writing this page (January 2021), as distribution has only just started. As of Jan. 28, 2021, OPIUM is available on Zerion. This situation will soon change and the information will be updated as the token becomes supported by more exchanges.

    If you’re still a cryptocurrency newbie, read our easy guide to buying Bitcoin or any other cryptocurrency.

    Read More
  • What is the all-time high price of Opium (OPIUM)?

    The all-time high of OPIUM was 0 USD on 1970-01-01, from which the coin is now down 0%. The all-time high price of Opium (OPIUM) is 0. The current price of OPIUM is down 0% from its all-time high.

    Read More
  • How much Opium (OPIUM) is there in circulation?

    As of , there is currently 4.16M OPIUM in circulation. OPIUM has a maximum supply of 100.00M.

    Read More
  • What is the market cap of Opium (OPIUM)?

    The current market cap of OPIUM is 238,896.95. It is calculated by multiplying the current supply of OPIUM by its real-time market price of 0.057410536438.

    Read More
  • What is the all-time low price of Opium (OPIUM)?

    The all-time low of OPIUM was 0 , from which the coin is now up 0%. The all-time low price of Opium (OPIUM) is 0. The current price of OPIUM is up 0% from its all-time low.

    Read More
  • Is Opium (OPIUM) a good investment?

    Opium (OPIUM) has a market capitalization of $238,896.95 and is ranked #2412 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Opium (OPIUM) price trends and patterns to find the best time to purchase OPIUM.

    Read More