BLOCKONOMIST
Read News

Read News For Me

Antimatter Launches on Fantom to Bring Financial NFTs and Perpetual Options

Image Source: Twitter (@antimatterdefi)

On September 7th, Antimatter announced its launch on Fantom for bringing the users perpetual options and financial NFTs. The growth of Fantom in recent times was one of the reasons to leverage the network.

Recently, it also announced the integration of the Nonfungible Finance Fantom version with SpookySwap. It will allow users to trade the indexes in NFT format with a combination of a variety of assets.

Let’s introduce AntiMatter and Fantom:

Antimatter is an ecosystem for on-chain financial products, which is based on a polarized token mechanism. The platform creates the tokenized perpetual options across many blockchains in a permissionless way. With perpetual options on AntiMatter, traders can speculate on the future prices of digital currencies.

Fantom is an advanced layer 1 blockchain which is secure, fast and scalable and is built on a permissionless aBTF consensus protocol. Notably, the transaction cost on Fantom is 1 cent, and the transactions are usually confirmed within 1 second, making it a very efficient system.

How do perpetual options of AntiMatter work?

AntiMatter aims to decide if a digital asset is bearish or bullish, and it does so by the use of perpetual options. Here, the perpetual options are tokenized, and the investors can trade those tokens.

Corresponding to the call and put perpetual options, two types of tokens, called call token and put token, are there.

They have a price interval containing any crypto's current price, and they anticipate that its price will change in that particular interval. If the price varies within that interval, antimatter tokens (put and call tokens) are generated by providing the assets such as ETH and USDT.

Anyone can create Antimatter NFT now:

With the integration with SpookySwap, anyone can create their indexes in a permissionless manner and that too, in just 5 steps:

  • First, you are required to connect your wallet and choose the FTM chain.
  • Second, click the ‘create’ button.
  • Then select the NFT type you wish to create, i.e., spot index, locker or fixed index.
  • Next, you are required to fill in the details of the NFT made.
  • Lastly, you have to fill in the parameters of the index, such as the number of assets and their type contained by the created index. After making the Index NFT, it will be visible on the home page.

Note that you do not need to deposit any assets for creating your Non-fungible tokens.

Closing Thoughts

The real-world use cases of Fantom for DeFi applications lies in its low costs and speedy transactions. The integration of AntiMatter on Fantom can potentially support the adoption of financial NFTs and on-chain perpetual options.