FAQ

Tytanid is a non-custodial and fully decentralized protocol for binary options trading. Users can participate as creators of binary options markets and can join markets already created by other users.

The Tytanid protocol was carefully audited and secured. The protocol is fully open source system. Open source software is a model of decentralized software development where source code is distributed to the public for open collaboration and collective production. Thanks to this, anyone can interact with the API or directly with smart contracts on the Ethereum blockchain. This allows you to build any third party service or application to interact with the protocol and improve your product.

By using the Tytanid protocol, you can easily become a creator of the binary options market, obtaining additional financial benefits in the form of the corresponding percentage of ETH invested in the market you created. The system will also allow you to join any market created by other protocol users.

Tytanid is a platform on which users can create or join binary options markets created by other users. In a single market, you can purchase both long and short options by transferring ETH from the same wallet.

There are 3 types of fees on the platform. The first type of commission is charged only to the user who is the market maker and is equal to 1% of the basic amount. The second type of commission is charged to users who join markets created by other users. This commission is 1% of the ETH amount invested by the user joining the market and is shared between the platform and the market maker. The platform will receive 90% of this amount and the market maker the remaining 10%. The third type of commission is charged to users who exit the market in the bidding phase. In this case, the commission rate is 5%, of which 80% of the collected ETH amount will go to the platform and the remaining 20% to the market maker.

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