Review BBOD - the first exchange of cryptocurrency derivatives at zero cost!

Desember 02, 2019

Today I will introduce you to a very interesting exchange called BBOD!

About Exchange

BBOD - This is a unique innovative cryptocurrency exchange for trading cryptocurrency derivatives, which has zero commission. This exchange is intended for retail and institutional users. BBOD exchange is safe, reliable and transparent. This allows all registered users to trade bitcoin and other famous coins and altcoins with support in a stable TUSD.

The BBOD exchange is very different from other exchanges and crypto platforms that offer coins. The difference is that their platform is functioning, and is attracting new customers every day. BBOD opened for business in October this year and today has a list of 17 perpetual futures contracts.

Their main goal is to grow to the level of well-known trading platforms such as Bitmex or Huobi in a short time. Their main task is to expand the technology department, attract large numbers of new customers, try to increase volume as soon as possible and create a community such that it is convenient, easy and attractive for everyone to trade, both experienced traders and ordinary users.

That is why the BBOD team will carry out a preliminary list of available tokens to gradually approach the stated goals.

Our Key Features

Leverage trading at no cost

BBOD will be the first Zero-Fee Crypto Futures Exchange launched on December 9, 2019. There will be no (zero) transaction fees on the BBD futures market (eg BTC / BBD perpetual contract).

Traders need to use BBD tokens as collateral, so

balances and PnL are denominated in BBD. The price eg BBD / TUSD will be set on that day and set as the closing price from the previous day. During the trading session, the% change in the BTC / BBD index and BTC / TUSD will be the same. Every day at 0:00 UTC the BTC / BBD index will be updated based on changes in prices in the BBD / TUSD spot market.

Trade altcoin with leverage

The cryptocurrency derivative space still lacks a professional, safe and reliable market for small and medium altcoin trading with relatively high leverage (10-25x). Due to the low volume and high volatility of the smallest coins, exchanges are subject to frequent and unpredictable liquidation. At BBOD we apply our property smoothing techniques in index calculation which greatly reduces unnatural price spikes associated with liquidity drainage.

We hope that our sophisticated index calculation algorithm will enable us to become the most diverse, liquid and reliable market for high / micro / small / medium altcoin trading with high leverage, with the aim of listing a timeless futures contract at +50 cryptocurrency in Q2 / 2020 and +100 in Q4 / 2020.

Every new cryptocurrency contract will be chosen by our community. We will hold polls every week on Twitter and Telegram to ask our community which new contracts they want to register on our next exchange.

USD-based stable settlement

At present, in almost all exchanges, traders must install different guarantees to be able to trade the entire product range. An example of this is Bybit with 4 guarantees (BTC, ETH, LTC, EOS) or Deribit with 2 guarantees (BTC, ETH). USD-based universal guarantees are standard on established exchanges such as CME, CBOE where most products are quoted in USD. You deposit USD into your broker and you can trade all products using one universal guarantee.

BBOD futures contracts are settled on a USD-based guarantee (currently TUSD). This means that profits, losses, account balances, and margin requirements are denominated in stable cryptocurrency. All basic assets can be traded using one universal guarantee.

Unprecedented security: Non-custodial account

If you hold coins at every derivative exchange (Bitmex, FTX, Bybit), please note that the exchange owner has full control and responsibility for keeping the coins safe. The owner holds the private key to your coin.

At BBOD, cryptocurrency prisoners are completely separate from exchanges. As a result, our platform does not hold a private key to client balances, instead each client deposits their funds in a decentralized smart contract account. No private key is created, therefore the key cannot be stolen by the hacker.

Transparency

All user balances are updated daily and visible on the Ethereum blockchain. This means that every day the user's off-chain balance (on the trading platform) matches the on-chain balance (ethereum contract account). This design allows BBOD to pass proof-of-solvency and proof-of-reserve audits using data that is only publicly available. Community members can monitor:

the total amount of funds on the exchange as the sum of all user balances
number of users registered as a number of contract accounts created
Daily amount of funds completed on the blockchain (PnL realization, fees, funding payments)
all user balances

BBOD will register crypto and traditional equity futures, fixed income, commodities and futures, vanilla options. In the first phase BBOD will list the following eternal contracts on the following 17 cryptocurrency: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, NEO, Tron, Binance, Litecoin, Stellar, Cardano, IOTA, Monero, NEM, ICON, Decred, Digibyte, all contract vs. TUSD.

Most of the existing derivative exchanges (Bitmex, Deribit) offer reverse futures - futures contracts that are quoted in one currency (for example USD) and settled in another currency (for example BTC). This approach complicates the calculation of PnL and selects the size of the contract. BBOD offers vanilla futures contracts that are quoted and settled in one TUSD currency. This makes PnL calculation easy: (Out Price - Entry Price) multiplied by the number of contracts in the base currency.

Our Trading Products

Spot / Futures Market

unlimited futures markets settled by TUSD, e.g. BTC / TUSD.
the perpetual futures market is settled by BBD, e.g. BTC / BBD (to be launched on 10 December 2019)
Spot market BBD / TUSD, BBD / ETH, ETH / TUSD (to be launched on 10 December 2019)
fixed-term market (to be launched in Q2 / 2020)

Many users who are new to BBOD, but familiar with Bitmex, Deribit or FTX may ask what are the main differences. This comparison table is intended to show some of the main differences between BBOD and our colleagues.

About Tokens

BBOD internal token is BBD. The first listing on the exchange is December 10 this year. Original price of 0.65 TUSD. Standard BBD ERC20 token. The total number of tokens is 275,803,582 BBD.

BBD tokens have several uses:

1. Lack of commission. When dealing in pairs with BDD, for example, BDD / BTC and others, there will be no commission.

2. Discounts. Registered users will pay a minimum commission for trading on futures exchanges calculated by TUSD.

3. Award. You will be given to hold a BDD token. You can also earn more by joining an affiliate program.

List of initial BBD tokens:

BBOD securities before the first list have decided to offer discounts of 8 million BDD tokens.
Period of sale: 11/19/2019 - 12/9/2019
Starting price: 0.65 TUSD
Currency Received - ETHEREUM