The website says Oction is the world’s leading CeDeFi alternatives trading platform made on the Binance Smart Chain. Oction symbolizes a transformative technology that seeks to support financial liberty backed by the liberty Bitcoin and offer globally via voluntary involvement in a permissionless decentralized network. Trade choices are available via CeDeFi, without a middleman, centralized community, and higher fees. Also, there are more option varieties and zero data or market manipulation accessible with CeDeFi. Furthermore, Oction seeks to permit trading that can be done via a democratic infrastructure on the blockchain, particularly the Binance Smart Chain. With a decentralized feature, Oction seeks to prevent interventions and disturbances by centralized platforms.

Oction is a wholly integrated decentralized options trading platform that includes American and European options. Oction seeks to offer its users a seamless and user-friendly options trading platform experience along with a lower transaction price and a more comprehensive range of cryptocurrencies available for trading. Also, the token seeks to provide instant liquidity through sitting limit orders because all orders are taken up against the liquidity pool.

In pursuing the rule of DeFi, the Oction ecosystem aims to integrate the application of DeFi with the options platform. The options contract on the token is performed via a smart contract. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. Executing smart contracts on the token seeks to offer the holder the freedom to purchase or trade an underlying asset at a particular price (also known as the “strike price”). To perform the execution, the holder must purchase an option from a merchant (herein defined as the “writer”), who trades the right to purchase or deal an asset. So, the writer needs to trade an asset within a definite period. 

Oction was launched in 2021.The maximum total supply for the token is 100,000,000.