Advanced Parimutuel Options
The APO platform allows participants to trade derivative instruments (options) without collateral and without risk of non-payment, unlike a centralized exchange. The platform automatically creates a smart contract for the auction, which lasts until the expiration date, and terminates after making payments to participants. The platform operates without option sellers. APO does not act as an organizer of these auctions, but performs the functions of developing, maintaining and upgrading the source code.
Parimutuel is a betting system in which all bets of a particular type are placed together into a pool and payoff odds are calculated considering that the pool will be distributed amongst the winning bets. Parimutuel matching has several unique properties that distinguish it from the traditional method of matching buyers with sellers (double auction systems). Reverse parimutuel model differs from the standard parimutuel model by establishing a fixed payoff amount at the time of the sale. Here are some key advantages: (1) Does not require a buyer to be matched with a seller for a trade to occur. In fact, reverse parimutuel matching can generate trades with only buyers of options; (2) Produces lower option prices; (3) Guarantees that payments of all participants go into a common pool (and provides a method to monitor said pool); (4) Does not require collateral, margin or initial deposit; (5) Provides decentralization of a trading system; (6) In the future, we expect to split an option contract into sub-components (elementary states) and allow the participant to trade both, the whole option and individual components of a given option.
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