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Lien Protocol Brings Crypto-Native Options to Binance Smart Chain

Lien Protocol Brings Crypto-Native Options to Binance Smart Chain
12th March 2021, Lien Finance , a decentralized platform on Ethereum, uses blockchain technology and smart contracts to create varieties of options out of ETH including call options , put options , and exotic options such as the butterfly option . Users are able to fine-tune their positions according to their own risk appetite by creating and selling options.
This functionality is now available on Binance Smart Chain (BSC). Users will now be able to create options using Binance Coin (BNB).
Why Lien Chose BSC
Lien ’s key objective is to develop a genuinely decentralized stablecoin & options protocol that is censorship-resistant. This first targeted goal was achieved by launching Lien Protocol on Ethereum and introducing the iDOL stablecoin, as well as various ETH options. The project is building a layer 2 solution using zk-Rollup , which will allow scaling of Lien while maintaining Ethereum level security.
According to Lien’s team:  
“The technological developments fundamentally progress the Lien project forward towards our ultimate goal of creating a truly decentralized stablecoin and option protocol. We are always looking for innovative ways to increase the user base of crypto-native options, specifically, DeFi option users.” 
The history of derivatives in legacy finance gives us a hint of what is to come in decentralized finance (DeFi).
The team added:  
“When derivatives were first introduced in finance, they were cutting edge financial instruments. Some thought they were scammy; some thought they were a breakthrough in finance. As awareness grew and the public caught on, the use of derivatives exploded.”  
The derivatives market is much larger than the underlying market. Lien is willing to do more by way of experimentation to develop and bring new products to the derivatives market. 
As a result of this experimentation, the team concluded that releasing Lien Protocol on BSC would be one of the best ways to achieve this objective.
BSC features such as low transaction fees and high throughput can allow casual use, a wide selection of wrapped assets, an active user base, compatibility with Ethereum contracts and ERC20 tokens, and an optimal user experience. These are just some of the many reasons Lien ’s team chose BSC.
The aforementioned features, as well as the low-cost environment found on BSC, makes the DeFi space accessible for users that were priced out of Ethereum-based DeFi products.
Alpha Version of Lien on BSC in Q1 2021
The company will launch an alpha version of Lien Protocol on BSC in Q1 2021. This will include features such as BNB-based call options and Butterfly options. The contract will be based on Certik’s audited code, deployed to Ethereum.
 
As per the Lien Token spokesperson: 
“In Q2 of 2021, we plan to release an upgraded version with additional functionalities and options for other tokens.”
In addition, Binance Lien will be released on BSC, which will allow the Lien token to be used within the BSC ecosystem.
Media Contact:
Email: [email protected]
Visit the website : http://lien.finance/
Follow Lien on Twitter: https://twitter.com/lienfinance
Join the community on Telegram: https://t.me/lien_finance
Stay in touch via Discord: https://discord.gg/asaFbQQ
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The post Lien Protocol Brings Crypto-Native Options to Binance Smart Chain appeared first on BitcoinNews.com .

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