Hyung Yeon, CEO of Crescent, introduced Flip, a protocol set to disrupt the world of derivatives trading, at the Cosmoverse 2023.
Flip is designed to simplify the complex world of derivatives, making it accessible to everyone, particularly young traders. This article delves into the key points from Hyung’s presentation, shedding light on how Flip aims to redefine the derivatives landscape.
The origin of derivatives
During his presentation, Hyung provided a historical context by exploring the origins of derivatives.
He explained that futures contracts originated in 17th-century Japan with practical purposes in mind but gradually transformed into speculative instruments.
Additionally, he highlighted the emergence of options contracts in the UK, which, despite initial legality concerns, gained widespread popularity.
Challenging the prevailing belief that futures hold greater significance, Hyung emphasized the multi-dimensional trading experience offered by options, as opposed to the one-dimensional nature of futures.
The CEO further clarified that futures are essentially a specific example of options, created by combining call and put options.
State of the derivatives market
Hyung explained more stating that Options trading, particularly in the Asian market, has shown more significant growth compared to Futures trading over the past five years.
Notably, he reiterated that in India, the Options market plays a pivotal role in generating revenue for the National Stock Exchange.
Given these circumstances, Hyung emphasized Flip’s dedication to Options trading. The remarkable surge in its popularity, the extensive user base, and the promising revenue prospects position Options as a strategically important focus area for Flip.
Flip’s Mission, Roadmap and Future
Describing Flip, he said that its mission is to welcome young traders to the platform by providing a user-friendly experience.
He outlined the characteristics of these “Deans” (young traders), who seek alphas, desire instant results, and love simple things.
To cater to this audience, Flip offers a gamified trading experience. Hyung explained how the user interface is designed to resemble mobile gaming interfaces, making trading intuitive and engaging.
He revealed that Flip was created to enable users to create new derivative products without coding skills. It provides diverse strategies and position statuses and collaborates with professional gaming studios to offer an engaging user interface.
Speaking on the future plans, Hyung said that Flip will launch trading competitions and a Crescent version 6 upgrade in January. The platform is set to disrupt the derivatives landscape and revolutionize trading for young traders worldwide.
