The cryptocurrency sphere and the entire blockchain ecosystem have seen price spikes that have been referred to in not so few terms. In fact, pessimists still hold to beliefs that cryptocurrencies are Ponzi schemes. Such steep rises and falls have, in specific instances, cause huge losses occasioned by the inflation that is only natural among such volatile commodities. It is thus surprising that insurance against losses in these markets hasn’t been thought of only until recently; an irony of sorts actually, especially considering that the disrupting nature of the blockchain is providing answers to all segments of the economy but closer home.

Lack of insurance, however, is a scenario that is about to change with the introduction of the ODUWA network. As a decentralized cryptocurrency exchange, ODUWA will do a lot more than just providing a platform where users can buy and sell crypto coins. Instead, it will also offer insurance against the volatility in the cryptocurrency markets. Such a platform is critical especially now that the loses mentioned above have eroded the confidence of most people who’d started looking at the cryptocurrency space as a viable alternative investment avenue.

About ODUWA

The platform is working on a protocol that will secure approved coins in the exchange with 100% insurance against depreciation. The platform hopes to achieve such a lofty ambition by providing this insurance only on intelligently selected cryptocurrencies. Besides, it shall also keep a proportional reserve to guard against the amount invested, and offer automated smart contracts to watch on all these segments of investments. ODUWA, as such, is the first platform that is working to provide solutions to stabilize the market as well as build a new trust economy in the cryptocurrency space.

The supposition behind this blockchain solution is to give users the peace of mind that allows them to concentrate on other things without worrying about their cryptocurrency portfolios taking value dives because of crushes. Besides, it also provides additional crucial benefits that essential for the healthy growth of the crypto world. To this end, the platform shall offer timed contractual insurance solutions that are protected by the smart contracts of Ethereum. Better yet, users don’t need to pay for the services but shall instead gift the platform only when they win against inflation.

The ODUWA platform shall be launched in May 2018, along with the last stage of the platform’s token generation event, details of which are provided on the tail end of this narrative.

Benefits of ODUWA

Users shall be able to trade ODUWA coins on various notable cryptocurrency exchanges all over the world. This will create natural access that is important for everyone that wants to enjoy access to the ODUWA platform. Eventually, such demand for both coins and platform shall lead to an increase in the value of the tokens.

The coins are an exchange resource in their own right. Users shall be able to trade ODUWA coins with no fees. Also, the coin affords users easy liquidation as they can buy other currencies as well as fiat using the ODUWApay debit card.

Users shall also enjoy added protection for not only their cryptocurrency portfolio but for their ODUWA holdings against volatility-related loses. Overall, the platform shall protect crypto portfolios against all forms of inflation.

Details of the ICO

The ODUWA token generation event shall make available 21 million tokens to the public. The hard cap of the exercise is set at US$ 3.15 million, and the crowdsale shall go on until the end of the fixed period or when the said amount is raised, whichever comes fast.

The presale began on February 8, 2018 offering about 1.05 million or 5% of the total tokens available. The team planned for three phases of the sale; the first and second presale rounds shall offer a total of 13% of the tokens while 57% shall be sold during the core phase of the token generation exercise. The team will reward the core developers with 12% of the tokens while partners and advisors will settle for 6%. A further 2% shall be distributed through the bounty program while the remaining 10% shall be reserved for the bonus fund.

What is in it for the backers?

Insurance is a critical need in the cryptocurrency space, at least to tame the runaway inflation that certain currencies have caused due to the steep spikes and dives in their prices. The novel solutions that ODUWA provides will, as such, be in high demand upon launch. Such a situation will make the ODUWA coins become attractive and gain value as a result. This, therefore, is the best time to grab a piece of the ODUWA pie.

More information about the ODUWA platform and the token generation event is available on their telegram, website, and whitepaper. Prospective investors can buy the tokens here.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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