For now the dependency on OKX is troubling... But as a proof-of-concept it's interesting.
The missing piece here is a decentralized place to trade equal amounts of Long and Short positions (with 0% slippage, prefferably). Maybe, in time, the Kollider.xyz project will be liquid and stable enough to swap out with OKX?
Anyway, I am happy that this kind of very valuable experiments are undertaken !
 Isn't Fuji.Money (a project funded by Blockstream) doing something similar?
Why did we choose okx as the first exchange?
to be more robust and reduce risk, a multi-exchange hedging definitively needs to be developed.
we're currently rewriting the bot in rust (https://github.com/GaloyMoney/stablesats-rs/), so that it's easier to use with other wallets/banks, and when it's done we will work on adding multiple exchange.
Fufi.Money is somewhat different.
AFAIU, Fuji.money, instead of relying on derivatives, relies on overcollateralization. ie: you need to put $2 in bitcoin value to create one fuji dollar, such that even if the price of bitcoin drop by 2, there is still some collateral. at this point the person creating the $1 would need to add more collateral to not be liquidated.
Some info about mentioned Kollider exchange. In Standard Sats we replace them with different exchange however we will maintain FOSS hedge service for anybody who decided to run Fiat Channels infrastructure.
small nit: Fuji.Money is NOT funded by Blockstream by any means :)