CoinMarketCap takes a deep dive into an on-chain and cross-chain DeFi perpetual options protocol that relies on a polarized token mechanism
How Does Antimatter Work?
Antimatter works as a platform that offers the feature of decentralized on-chain options trading to users.
The indicator prices on the Antimatter platform create an opportunity for investors to take advantage of the difference between the market price and the indicator price of a specific cryptocurrency.
This platform is in the early stages of development as of 2021; however, their ambitious roadmap lays out their future plans clearly. The roadmap includes all of the necessary steps for growth, including listing on Uniswap and PancakeSwap, generating and redeeming options, and becoming the most intuitive and widely used decentralized platform for crypto derivatives trading.
What Makes Antimatter Unique?
Like Jack Lu’s Bounce.finance, the antimatter protocol is compatible cross-chain with blockchains like Polkadot, Binance Smart Chain, and Huobi Eco Chain. Antimatter also offers the following benefits that provide a unique option for DeFi users:
- Polarized Token Mechanism
On Antimatter, custodial tasks like funding, fee distribution, and rebalancing are automated. This makes a more efficient network and introduces polarized tokens which will encompass the two halves of an options product: the positive side (call) and negative side (put). By trading these tokens, users can gain exposure to the crypto options market.
- Secondary Market Opportunities
As mentioned before, Antimatter introduces market making, arbitrage, and passive yield opportunities. This “secondary” market is best for users who want to have long or short positions in Antimatter-based options. According to the Antimatter whitepaper, the secondary market is linked to the Uniswap backend and the sales of option tokens are executed through Uniswap.
- Self-sustainable and Community Governed
Fees from products and protocol usage are used to buy back MATTER tokens on the network. Community governance creates a dedicated following that benefits the network and ensures the engagement needed to make the best decisions.
What Is the MATTER token?
The supply of Antimatter tokens is as follows:
There is a total supply of 100,000,000 MATTER with 50% of the supply allocated for platform liquidity and incentives. AntiMatter is also introducing these DeFi mechanisms into their ecosystem:
- Staking MATTER tokens.
- Liquidity mining by LPs in MATTER token pairs.
- Governance and participation rewards.
- Mining rewards for options trading, option creation, and option redemption
Final Thoughts on Antimatter
Antimatter may end up being one of the better solutions to crypto derivatives trading, but they will face competition from some of the biggest names in the industry. Binance, OKEx, Huobi Global, and Bybit, all currently offer solutions for derivatives trading. Antimatter will need to quickly communicate their unique points and grow their followers to adopt a sufficient following. Even though they are one of the newest players in the DeFi space, they are quickly growing with plans to branch out into the NFT space as well.
Antimatter has experienced hacking attempts like many other DeFi protocols, so they will need to iron out the kinks. With the Chainswap hack, all MATTER token holders have been reimbursed their holdings via an airdrop from the developer team.
The project presents a sound solution for DeFi users, and it is likely that Antimatter will become a go-to derivatives trading platform. However, only time will tell as the crypto market is notoriously full of surprises.