Binary options for DeFi

Blockchain technology introduced a completely decentralized, transparent and secure system that has revolutionized traditional finances. Nevertheless, cryptocurrencies still relied on centralized exchanges, which, after all, were at odds with the whole blockchain concept. This is when decentralized DeFi exchanges entered the game and solved the problem. Meet Tytanid - the first DeFi staking platform that implements binary options trading.

What are DeFi? They are decentralized trading platforms that have totally revolutionized financial systems. DeFi are about to replace outdated, standard finances controlled by banks that are notorious for slow operation and high transaction fees. Until now, there was no tangible alternative to the abovementioned system, which put banks into power. DeFi allow easy access to all financial services such as savings, loans, trading, and insurance to anyone, regardless of their location. The user needs only an internet connection and a smartphone.

Decentralized exchange protocol is an alternative to traditional banking that completely removes the need for intermediation between parties and creates a transparent and secure ecosystem. DeFi apps are gaining increasing popularity, and their systems have already recorded hundreds of billions of dollars. The numbers are constantly growing, which is a proof of reliability.

As mentioned earlier, the current financial system is strictly supervised by a central entity - banks, which charge a fee for each transaction. With the help of cryptocurrencies and smart contracts, the decentralized trading platform eliminates this intermediary by connecting network participants in a peer-to-peer model, which means that each user has the same rights. The role of intermediary, which was previously performed by the bank, is taken over by smart contracts. This code always works properly and there is no room for human errors. It’s also worth mentioning that there is no unit that could control the system. Thanks to it, it’s possible to store and transfer funds without having a bank account. Therefore, you have a cheaper, faster and safer alternative to financial services at your fingertips.

Tytanid DeFi staking platform is a fully automated and secure network based on the Ethereum blockchain. Its code is transparent and publicly available. When it comes to binary options, the asset price data is taken from the decentralized Chainlink platform, therefore the data can't be influenced by any entity. To reduce transaction fees, Tytanid has implemented a solution by Optimism. It minimizes the costs of platform operations and accelerates activities.

At Tytanid, binary options markets can be created using a broad asset base. It's possible to open markets of cryptocurrencies (including tokens), fiat money, commodities and shares of companies listed on stock exchanges. Additionally, a network user can create binary markets even from $50, or join the ones developed by other market participants. The platform is dedicated both for beginners and more advanced traders. The strike price setting is available in many fiat currencies (including USD, EUR, GBP, CHF, CAD), so traders from all over the world can benefit from price predictions. With Tytanid, you can connect any cryptocurrency wallet, like MetaMask, Ledger, or an exchange-traded wallet such as Coinbase. Join the Tytanid platform and see what benefits it can bring to you.