Opium

OPIUM Price

What is OPIUM?

OPIUM is the governance token for the Opium protocol. 

How to obtain OPIUM?

You can purchase OPIUM from exchanges such as 1Inch or Sushiswap. You can find OPIUM trading on various centralized and decentralized cryptocurrency exchanges. 

What is Opium Finance?

Opium is a decentralized derivative protocol. 

It offers two products: USDT de-pegging insurance and a fixed interest rate investment product. 

What is the USDT de-pegging insurance?

Users can buy cover for USDT de-pegging risk. Opium designed the product by allowing users to have USDC if USDT is de-pegged. 

For example, if a user purchases a 100 USDT cover and if USDT drops by more than 5% compared to USDC, the cover holder will receive 100 USDC.

Like Cover Protocol, the covers are sold on a series of dates decided beforehand, so users do not have flexibility in choosing the date and period. Plus, the availability of covers is minimal. 

On the other side, users can lend out USDC to Opium for Opium to sell the covers. 

What is the fixed interest rate product?

Opium utilizes Compound for lending. Opium divides the yield received into two tranches:

1. Senior tranche

Users that deposit DAI into the pool are expected to receive a fixed interest rate of 5%. 

1. Junior tranche

If the variable lending rate of Compound is lower than 5%, then the lending return and staked amount from the Junior tranche are at risk to be forfeited to pay the senior tranche. As a reward for taking the risk, this tranche will receive all the excess interest if Compound’s lending rate is above 5%.

Where can you buy Opium?

OPIUM tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade Opium is Bancor (V2), where the most active trading pair OPIUM/BNT has a trading volume of $20.72 in the last 24 hours.

What is the daily trading volume of Opium (OPIUM)?

The trading volume of Opium (OPIUM) is $20.64 in the last 24 hours, representing a -0.10% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Opium (OPIUM)?

Opium (OPIUM) reached an all-time high of $23.01 and an all-time low of $0.007381. It’s now trading -100.00% below that peak and 37.10% above its lowest price.

What is the market cap of Opium (OPIUM)?

Market capitalization of Opium (OPIUM) is $189,874 and is ranked #4992 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of OPIUM tokens (19 Million tokens are tradable on the market today).

What is the fully diluted valuation of Opium (OPIUM)?

The fully diluted valuation (FDV) of Opium (OPIUM) is $1,012,092. This is a statistical representation of the maximum market cap, assuming the maximum number of 100 Million OPIUM tokens are in circulation today. Depending on how the emission schedule of OPIUM tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Opium compare against its peers?

With a price decline of -0.20% in the last 7 days, Opium (OPIUM) is outperforming the global cryptocurrency market which is down -0.70%, while outperforming when compared to similar Decentralized Finance (DeFi) cryptocurrencies which are down -0.50%.

How to add Opium (OPIUM) to MetaMask?

Adding Opium (OPIUM) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import OPIUM as a token. You can copy OPIUM’s contract address (0x888888888889c00c67689029d7856aac1065ec11) and import it manually, or if you've installed MetaMask's chrome extension, add OPIUM to MetaMask with one click on CoinGecko.

Add OPIUM to MetaMask.