Question: do you think that the BTC/USD market is going to be MORE or LESS volatile in the coming months?
If YES, then you can PROFIT from this by trading options contracts.
I've been doing some work on the 6SR trading platform at https://trade.6thstreetradio.org . This site allows users to create, trade, and execute options contracts on the BTC/USD pair. It is now ready for beta testing on the public network. I am calling on the stellar community for help in growing the user base of this service and to help bring BTC options trading to the general public.
I maintain 2 weekly contracts:
- 1 slightly in-the-money (ITM) call option based on the spot price of BTC on the previous Saturday, expiring the following Friday.
- 1 slightly out-of-the-money (OTM) call option based on the spot price of BTC on the previous Saturday, expiring the following Friday.
Based on your goals, you can either chose to purchase a call option expecting the value of BTC (in USD) will go up, or you can sell one against BTC that you own, expecting the market to go down.
All of these markets trade on the stellar SDEX and can be viewed and traded outside of my site. I also require no wallet private keys, and funds held in escrow use multi-signature accounts so I cannot control them.
The site works with https://stellar-authenticator.org for transaction signing, and with https://nicetrade.co for market viewing.
Here's a video I made of general operation back in January. The prices are outdated (WOW!), but the content is still accurate:
PLEASE direct message me if you are interested in joining this effort.
== Known Issues ==
- The "Buy BTC" and "Buy USD" features on the wallet page doesn't take into account market depth, so you might not get the whole order filled. The safer route for now is to simply use the SDEX to buy these tokens.
- The first transaction for each market will set up the trustline and not actually post a trade. This is not obvious to the user.
- When you close your escrow account after the market has expired, you gain signing power on the account but not the secret key. This means the only way to merge the account back in to your main wallet is by manually building the transaction. This does work, but is not very user friendly.
- There's no technical reason any pair of tokens (including XLM) can't be traded. The only limit is the XLM required to create the accounts. If there is interest, I can create any desired market (DOGET/USD for example).
== Disclaimer ==
I am not FDIC insured. I am not a member of SIPC, FINRA, nor am I registered with the SEC. All references to "money" in this article are intended to mean "tokens." All tokens issued by 6SR have NO intrinsic worth, and do not represent a store of value. This service is for entertainment purposes only.
