Olympus Labs Building on the Cryptocurrency-Based Financial Products Boom
While Cryptocurrencies and the investenet in these digital assets is being touted as the future in a number of sectors, they are still especially basic when it comes to the investment sphere. It is as easy as buying at a price set by an exchange, and while easy is good, it is also basic and lacking in nuance and ability.
To this end there has been a demand for cryptocurrency to play catch up the the financial services and products that are offered on the traditional investment platforms. Thus, Olympus Labs has taken up this mantle in order to offer investors the chance to use financial services and products that can aid in powerful investing, hedging and expansion of a crypto portfolio.
Since they hype and interest in CME and CBOE's launch of futures trading on Bitcoin, it has become clear that there is a big desire from those wanting to enter the cryptocurrency market to be able to buy and trade with tools that are familiar in the traditional investment market.
Olympus is offering exactly those types of products and services, but with the extra incentive being that their products are done on the Blockchain. This seamless melding of crypto trading, on a blockchain with services built upon it, offers investors more than just products and services they will be familiar with, it also offers the benefits of smart contracts and the immutable ledger.
Blockchain solutions are coming to the fore in a number of different sectors, but the idea of securing the trading ecosystem with the power of the Blockchain, in order to allow investors access to services hitherto unheard of in the cryptomarket, is a masterstroke.
The effect of financial services and products on the crypto market
There has long been a divide in terms of the demographics of cryptocurrency investors; those who are new to investing and have chosen to start with cryptocurrency, and those who are familiar with traditional investment methods.
CME and CBOE looked to meld the two sides of the digital coin with the launch of futures, a financial service that was familiar to traditionalists. The news of such a launch was well taken up by the market as the price of Bitcoin exploded up towards $20,000.
It essentially allowed those who are a little more savvy with this money a chance to enter a burgeoning and exciting market with tools they are familiar with.
This has been difficult to get right in terms of a fiat-digital currency sense, but Olympus have gotten it right with the use of the Blockchain to offer these services. Not only is it easier to get around the difficulties with the Blockchain, it is also a more powerful, and decentralized tool, that secures the financial services and tools.
Futures are one aspect that have already been unleashed on he cryptocurrency market, but others are still waiting for more. There is whispers of ETFs being released soon, but the wait is irking a number of keen investors.
Beyond these services and tools, Olympus is offering even more in order to not only aid in investing, but also protect and hide the risks that come with cryptocurrency investing.
What is in the Olympus stable?
Through their self executing smart contracts Olympus allows users to do things that are not possible on the regular cryptocurrency market.
You are holding Bitcoin and want to buy into a new ICO, but do not want to sell your Bitcoin? Olympus allows you to enter a contract where you can borrow bitcoin, using your current bitcoin as collateral.
You are holding Bitcoin and want to generate profits from holding an asset the way a stock would pay dividends? You can lend out your Bitcoin to generate interest income while having the borrower's Bitcoin as collateral.
Even blockchain companies can benefit, especially those who have fundraised in the volatile cryptocurrencies like Ethereum and Bitcoin in their ICO. Olympus offers financial products and services will allow you to manage your funds for value preservation and stability.
Olympus is even offering positions to short the digital markets allowing investors the chance to profit even when there is a down turn.
This is all accomplished through the entire Olympus Labs ecosystem which is a host of platforms that meld together in order to allow the investor full control of their funds in the market.
There is the Olympus app, the Hora Wallet, Prometheus - the financial marketplace, Lethe - zero knowledge proof and homomorphic encryption, Vajra - the public Blockchain and finally Ambrosia - the financial products protocol.
The future is now
The fact that the announcement of Futures saw Bitcoin almost quadruple in value indicates just how popular and powerful financial services and products will be in the cryptocurrency space when they continue to be released.
Olympus has noted this, and is clearly breaking into the market early. Not only that, they are beginning with the power of the Blockchain for Blockchain currencies, something that at its core just makes a lot of sense.