When AntiMatter was founded in early 2021, our primary goal was to build innovative models to revolutionize derivatives in decentralized finance. Inspired by Uniswap and other similar DeFi apps, AntiMatter abandoned the traditional order book and oracle-based model and embarked on the adventure of exploring the ways to revolutionize the derivatives market. The Black-Schole model did the same for traditional derivatives, and now we are focusing on DeFi.
Hence AntiMatter can be described as the realization of hub for decentralized on-chain financial products such as derivatives and financial nonfungible tokens (NFTs). One of our first innovations is the non-oracle based perpetual options. Being community driven, innovative and simple forms are the core of AntiMatter. An option contract is an agreement that gives a trader the permission to buy or sell an asset at an estimated price on a predetermined date.
Although similar to futures contracts, traders who buy options contracts do not need to close their positions. Options contracts are derivatives that can be based on a wide variety of underlying assets, including stocks and cryptocurrencies. These contracts can also be obtained from financial indices. As a rule, options contracts are used to hedge current positions and for speculative trading. In some situations, options and derivatives can be highly complex financial products, which can be difficult to understand and have high barriers to entry. These kinds of products often get overlooked by many users. Moreover, achieving those options and derivatives on the smart contracts also require a lot of gas consumption. Hence, the goal of this technical whitepaper is to revisit these challenges and present a scalable solution to this bottleneck.
As Antimatter Labs, we have also been developing several options and derivative products. In these products, our vision is to introduce simplified derivatives products to serve many users more conveniently in a scalable manner. We aim to provide a good UI/UX Design to reach a wider audience and open new doors for our extensive Antimatter Ecosystem. However, we all know that accessibility is a key to a blockchain system. Hence, our goal is to have a universal efficient and low-cost DeFi derivatives worldwide. We believe that we are all still in the early stages of the Crypto & DeFi space and it goes without saying that we believe that this industry is going to stay here.
Figure 1: Antimatter Ecosystem
Running options and derivatives on standalone chains such as ETH, BSC, and Polygon requires huge amount of gas and this may yield large fee for a single transaction. Furthermore, the throughput is also another requirement for the derivatives as there are quite a lot of transactions need to processed in a very short time. Motivated by these needs, we aim to create a cheap, fast, and transparent sidechain (what we called B2) in BSC ecosystem where many Antimatter application products can be deployed and executed. In order to do that, we aim to use the BAS framework for creating B2 Sidechain in the BSC ecosystem. This gives the opportunity to maintain a close connection with BNB Chain (BSC) and execute all functions of Antimatter products meeting all those afore-mentioned requirements. Note that due to the BAS usage, the following implemented ready modules will only be customized according to our configurations:
• Parlia consensus engine
• Staking pools • Governance
• Dynamic runtime upgrades
• Reward management
• Manageable blockchain params
• EVM hooks
• Deployment proxy
This modular architecture allows us to re-use or enable/disable different modules. Of course, these modules are going to be runtime-upgradable by on-chain decentralized transparent governance for reliability purposes.