DeFi Derivative Landscape
A hopefully comprehensive guide to the defi derivative landscape
Projects
Options
- Opyn - Orderbook options protocol with power perpetuals and power perpetual strategies launching soon
- Hegic - Options with a liquidity pool
- Trade on v888
- Trade on v1
- v888 Whitepaper
- v1 Whitepaper
- Whiteheart - Onchain Hedging contracts using hegic
- Hedgey - Decentralized Orderbook options protocol for any pair of tokens (primarily long tail assets), targetted at Token Treasury & Community
- Dopex - Decentralized options pooled exchange on arbitrum
- Primitive - Crypto Derivatives Without Oracles
- Premia - Options AMM
- Opium - Trustless derivative contracts
- Siren - Polygon derivative trading with, leverage without liquidations
- Pods - Options AMM
- Vega - Derivative layer 1 based on tendermint
- Lyra - Options AMM protocol with a dynamic volatility input, on Optimism
- Trade
- Docs
- Whitepaper, good for understanding why dynamic volatility is important in an AMM
- PsyOptions - Solana american style options
- Zeta - Solana options and futures exchange
- Arrow - Decomratize Option Market Making, Brokering, Clearing and Settlement
Perpetuals
Swaps
- DyDx - Perpetual Contracts on StarkWare
- Perpetual Protocol - Arbitrum and Optimism Perpetual contracts
- DerivaDEX - DEX for trading derivatives
- FutureSwap - Perpetuals trading pools
- Kine Protocol - Peer to Peer derivative trading
- Mango - Solana lending, spot and perpetuals trading
- Drift - Solana perpetual trading based on a vAMM
- Hubble Exchange - Avalanche perpetual trading based on a vAMM with dynamic repegging
- Tracer - Perpetual derivative pools
- Injective - Trade perpetual contracts
- Deri Protocol - Perpetual futures and everlasting options
- Pika - Perpetual trading on optimism
- MCCDEX - AMM perpetual trading with a shared liquidity model
- GMX - Arbitrum and Avalanche perpetual contracts
- Cap Finance - Perpetual contracts on arbitrum
- Anon Farm - Permisonless perpetual contracts backed by uniswap v3 positions
Options
- 01 protocol - Solana everlasting options
- Opyn
Volatility
- CVI - Tokenized volatility protocol
- Volmex - Tokenized volatility protocol
- Qilin - Decentralized volatility protocol
- Divergence Protocol - Trade volatility
Composable Yield and Interest Rate Swaps
- Pendle - Trade and hedge future income
- Element - Fixed rate lending protocol
- Prism - Split digital assets into yield and principal components
- Volt - Interest rate swap AMM
Structured Products
- Antimatter - Principal protected structured products
- UXD - Algorithmic stablecoin backed by delta neutral positions on Solana
- Lemma - Basis trading protocol
Option Vaults
- Ribbon - Option vault structured product protocol
- Friktion - Option vaults on Solana
- Thetanuts - Option Vaults for long tail assets
- StakeDAO - Portfolio manager with option vaults
- Katana - Yield generation protocol for Solana
Staking Derivatives
- Lido - Liquidity for staked assets
- Marinade - Solana staking derivative
- Stakewise - ETH2 liquid staking
- Rocketpool - ETH2 liquid staking
- Solana native stake pool
- Claystack - Liquid staking for many assets
NFT options and fractional shares
Reading
- A Guide to Designing Effective NFT Launches
- Recurrently Issued Collectively Kept Shards
- Martingale Shares
- Floor Perps
Projects
Other
- UMA - Various structured and financial products
- Barnbridge - Tokenized risk protocol
- Saffron - Traunched Risk
- Thales - Binary options trading
- Synthetix - Derivatives liquidity protocol
- Kwenta - Derivatives trading, with zero slippage powered by synthetix
- Synfutures - Future trading
- Risedle - Leveraged Tokens protocol
- Overlay Protocol - Trade data streams
Selected Reading
Option AMMs
- Single-Sided Automated Market Maker for European Options
- Hegic Whitepaper
- Dynamic Curves for Decentralized Autonomous Cryptocurrency Exchanges
Replicating Payoffs
- Replicating Market Makers
- The Replicating Portfolio of a Constant Product Market
- The Replicating Portfolio of a Constant Product Market with Bounded Liquidity
- Replicating Monotonic Payoffs Without Oracles
Concentrated Liquidity and Option Payoffs
- Uniswap V3 LP Tokens as Perpetual Put and Call Options
- Pricing Uniswap v3 LP Positions: Towards a New Options Paradigm?
- How to Create Perpetual Options in Uniswap v3
- Synthetic Options and Short Calls in Uniswap V3
vAMMs
- On vAMM's unnecessity for liquidity pool
- Perpetual Protocol Deep Dive into vAMM
- Drift Dynamic AMM
- Drift dAMM Deep Dive
- A reinforcement learning based approach to optimizing vAMMs
Power Perpetuals, Everlasting Options, and Perpetual Swaps
- Cartoon Guide to Perps
- Everlasting Options
- Power Perpetuals
- Power Claims
- Raw Moments
- Unbundling Gamma - ETH^2-PERP Proposal
- Floor Perps