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HomePlatform UpdatesAnnouncing BBOD: Zero-fee, non-custodial cryptocurrency derivatives exchange

Announcing BBOD: Zero-fee, non-custodial cryptocurrency derivatives exchange

Implementing professional trading techniques with blockchain technology to create the most diverse cryptocurrency derivatives marketplace to trade altcoins with zero-fee, USD-based stablecoin settlement and non-custodial clients’ accounts.

BBOD in Brief

BBOD (Blockchain Board of Derivatives) is a non-custodial, zero-fee cryptocurrency derivatives trading platform for retail and institutional clients, offering a secure and transparent marketplace to trade Bitcoin and a wide range of Altcoins futures contracts with a TUSD-stablecoin collateral.

Incorporated in the Republic of Seychelles, BBOD’s team consists of 35 people, including 25 in-house software developers in London, UK and Poland and has  sales & marketing teams in Hong Kong and Seoul. Our core team consists of technologists and traders with 10+ years experience each from companies like State Street, Deutsche Bank, Coinone and University College Dublin.

BBOD partners with one of the most reputable electronic exchange operators worldwide – GMEX Group, who has developed and will host and manage the state of the art low-latency, high-throughput matching engine exclusively for BBOD. To get to know more about GMEX, please watch our interview with Hirander Misra – Group Chairman & CEO of GMEX Group and this interview with Tony Harrop, CIO & Director of GMEX Technology to find out why BBOD is going to offer the fastest and most reliable, high performance multi-asset matching engine in the cryptocurrency industry.

Our goal is to grow to the level of Bitmex and Huobi within the shortest possible time frame. We want to grow our technology department, acquire new users, grow our volume up as quickly as possible and build an engaged community of traders, therefore we will be conducting a pre-listing offering of our 8mln existing BBD tokens to help us reach the next level of growth. Do not miss the chance to buy BBD tokens cheaply before the first listing! Click here to learn more how to buy the next 100x token : https://bbod.io/offering

Our Trading Products

Spot / Futures markets
◾️ perpetual futures markets TUSD-settled, eg. BTC/TUSD.
◾️ perpetual futures markets BBD-settled, eg. BTC/BBD (to be launched on December 10, 2019)
◾️ spot markets BBD/TUSD, BBD/ETH, ETH/TUSD (to be launched on December 10, 2019)
◾️ fixed-date futures markets (to be launched on Q2/2020)

Multi assets platform
BBOD will list both crypto futures and traditional equity, fixed income, commodity and currency futures, vanilla options. In the first stage BBOD will list perpetual contracts on the following 17 cryptocurrencies: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, NEO, Tron, Binance, Litecoin, Stellar, Cardano, IOTA, Monero, NEM, ICON, Decred, Digibyte, all contracts vs. TUSD.

Vanilla futures contracts
The bulk of existing derivatives exchanges (Bitmex, Deribit) offer inverse futures – a futures contract quoted in one currency (e.g. USD) and settled in the other (e.g. BTC). This approach complicates the PnL calculation and selecting the size of the contract. BBOD offers vanilla futures contracts quoted and settled in one currency TUSD. This makes the PnL calculation straightforward: (Exit Price – Entry Price) times the number of contracts in the base currency.

Our Key Features

Zero-fee leveraged trading

BBOD will be the first Zero-Fee Crypto Futures Exchange to be launched on December 9th, 2019. There will be no transaction fees (zero) on the BBD-settled futures markets (eg. BTC/BBD perpetual contract). Traders need to use BBD token as a collateral, so balances and PnL is denominated in BBD. The price of e.g. BBD/TUSD will be fixed during the day and set as the close price from the previous day. During the trading session, % changes of BTC/BBD and BTC/TUSD indices will be the same. Every day at 0:00 UTC the BTC/BBD index will be updated based on the change in price at BBD/TUSD spot market.

Leveraged altcoins trading

The cryptocurrency derivatives space still lacks professional, secure and reliable marketplaces to trade small and mid-cap altcoins with relatively high leverage (10-25x). Due to low volume and high volatility of the smallest coins, an exchange is imposed on frequent and unpredictable liquidations. At BBOD we applied our proprietary smoothing technique in the index calculation which greatly reduces unnatural price spikes related to liquidity drainage. 

We hope that our sophisticated index calculation algorithm will allow us to become the most diverse, liquid and reliable marketplace to trade micro/small/mid-cap altcoins with high leverage, with the aim to list perpetual futures contracts on +50 cryptocurrencies by Q2/2020 and +100 by Q4/2020.

Every new cryptocurrency contract will be chosen by our community. We will organise a poll every week on Twitter and Telegram to ask our community which new contract they would like to be listed on our exchange next.

USD-based stablecoin settlement

Nowadays, at almost all exchanges traders need to post different collateral to be able to trade the whole range of products. An example of this is at Bybit with 4 collaterals (BTC, ETH, LTC, EOS) or Deribit with 2 collaterals (BTC, ETH). Universal USD-based collateral is a standard at established exchanges like CME, CBOE where most of the products are quoted in USD. You deposit USD to your broker and you can trade all the products using one universal collateral.

BBOD futures contracts are settled in USD-based collateral (currently TUSD). This means that profits, losses, account balances and margin requirements are denominated in the stable cryptocurrency. All the underlying assets may be traded using one universal collateral.

Unprecedented security : Non-custodial accounts

If you hold coins at any derivatives exchange (Bitmex, FTX, Bybit), please be advised that the owners of the exchange have full control and responsibility to keep the coins safe. The owners hold private keys to your coins. 

At BBOD custody of cryptocurrencies is completely separate from the exchange. As a result, our platform does not hold private keys to the client’s balances, instead each client holds their funds in a decentralised smart contract account. No private keys are created therefore the keys can not be stolen by hackers.

Transparency

All user balances are updated daily and visible on the Ethereum blockchain. This means that every day a user’s off-chain balance (at the trading platform) matches the on-chain balance (an ethereum contract account). This design allows BBOD to pass proof-of-solvency and proof-of-reserves audits using solely publicly available data.  Members of the public may monitor: 

  • the total amount of funds at the exchange as a sum of all user balances
  • the number of users registered as a number of contract accounts created
  • daily amount of funds settled on the blockchain (realised PnL, fees, funding payments)
  • all user balances

BBOD Green Trading

The BBOD Team believes in ‘Healing Corporations’ – i.e. making the world a better place through business and their profits, as we are strongly convinced that business should be a catalyst for a better world. We decided to donate up to 15% of our all trading fees to selected foundations, and you, as a BBOD trader will automatically participate in the contribution just by trading on our platform. Starting on Q1/2020, from every month onwards we will organise a monthly poll on our Twitter and Telegram to ask our community to pick a charity organisation which will receive donations from BBOD. In the beginning of our journey we would like to support two foundations that truly touched our hearts; Plant-for-the-Planet and One Humanity Care.


Competitors

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 meant to point some of the major differences between BBOD and our peers.


BBD Token in short

BBD is the exchange token of BBOD. BBD is an ERC20 token. You can find it on etherscan here.
BBD tokens will be listed on BBOD trading platform on 10th December 2019.
◾️ Total supply: 117,399,409 BBD (341 addresses)
◾️ Max. supply: 275,803,582 BBD (356 addresses)


BBD Token economics

  • Collateral: BBD is used as collateral for margined positions on the BBD-settled futures market (eg. BTC/BBD perpetual contract.) This increases utility and demand for BBD.
  • Zero-Fee trading: There are no transaction fees (zero) on the BBD-settled futures markets (eg. BTC/BBD perpetual contract).
  • Fee Discounts: Users pay reduced trading fees on the TUSD-settled futures market based on their BBD balance and daily trading volume. Staking tokens slows down the velocity of the coin and increases its value.
  • Rewards: Earn more in trading competitions when you hold the BBD Token. Gain access to a premium affiliate link.

Our discounts are one of the most attractive in the crypto derivatives industry. Up to 20% discount, and the minimum needed to get a 10% discount is just 500 BBD ($130 worth / 0.65 TUSD per BBD). For example, to get 10% discount at FTX platform , you need to hold FTT tokens of value 5,000 USD.

The table below presents the current fee discount structure

The tables below presents fees comparisons for Bitcoin/USD and IOTA/USD contracts across top derivatives exchanges.


How To Start Trading on BBOD

  1. Register for a BBOD account using your email address.
  2. Insert your withdrawal address, which needs to be an ethereum account owned by you. This account will be whitelisted for withdrawals. The withdrawal address whitelist is an obligatory security feature offered by BBOD. The whitelist feature is always turned on – you will be able to make withdrawals only to the addresses that you inserted during the first deposit.
  3. Deposit TUSD or ETH (minimum 2.5 TUSD or 0.003 ETH).
  4. Then your personal contract account (custody) has just been created.
  5. Now you can start buying or selling futures contracts with up to 50x leverage. Our matching engine is able to process 1,250,000 messages per second.
  6. BBOD’s smart contract performs autonomous, secure and controlled settlement in order to sync your off-chain balance (at your trading account) with on-chain balance (your contract account on blockchain).
BBOD’s design : relationship between on-chain and off-chain system

Join Our Global Community 👫

Stay updated on the upcoming BBOD developments via our various social media channels:

Telegram: https://t.me/BBODCommunity

Twitter: https://twitter.com/BBODTrading

Facebook: https://www.facebook.com/BBODTrading

YouTube: https://www.youtube.com/c/BBODTV

Linkedin: https://www.linkedin.com/company/bbod

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