Opulous receives an investment from Jump Trading
We are always trying to improve the value of the OPUL token. Whether by getting it listed on exchanges, offering staking pools or by making it the most attractive trading asset possible. That’s why we are very keen to announce our partnership with Jump Trading.
This partnership will cover trading aspects involved with OPUL, but also a deeper, strategic working relationship with the US company. They have made an investment in Opulous to support us in becoming the leading DeFi protocol and NFT publisher for artists.
“Jump has a solid reputation backing some of the biggest projects in the market, so I’m pleased that they share our vision and I’m excited for us to be working together,” said our founder and CEO Lee Parsons.
Who is Jump Trading
Jump Trading is a Chicago based research-driven quantitative trading firm with over 1,000 employees globally and one of the largest traders by volume across equities and crypto markets.
Jump has emerged as a major player in crypto, through its six-year-old digital asset division Jump Crypto. They offer liquidity to markets, act as a market maker and execute trades for Robinhood Markets Inc.’s customers. The company was also a co-founder of Pyth, which supplies updates on asset prices every 400 milliseconds to the Solana blockchain.
President of Jump Crypto, Kanav Kariya, said that the firm wants to go beyond market-making and trading. “The possibilities for the space are just far greater than DeFi and financial stuff.” Their strategy is to participate in governance and build on different networks. Next to Opulous, Jump has made investments into notable crypto companies such as BitGo, Chiliz, Luna, Serum and Solana.
What is a market maker
In short, market makers provide liquidity to the market. Liquidity is the degree to which an asset can be quickly bought or sold without notably affecting the stability of its price. This means that market makers simultaneously provide liquidity to both buyers and sellers.
Increasing the liquidity for OPUL is a positive. To attract more traders, we require more liquidity. Having Jump as our market maker is not only good news for traders. It’s also of interest to exchanges. They take a fee for each trade. So if the trading volume of OPUL ramps up, our token becomes a valuable asset to list.
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This whole week we will be making major announcements. Yesterday we released the news that Mark Gillespie, manager of Calvin Harris and Will Smith, has joined Opulous as a Senior Advisor.