Opyn is building DeFi-native derivatives and options infrastructure in DeFi.
Total Notional Volume
Total Value Locked
Perpetual exposure to ETH²
Perpetual leverage without liquidation
Long Squeeth gives traders a leveraged position with unlimited ETH² upside, protected downside, and no liquidations. Long Squeeth holders pay a funding rate for this position.
Earn funding for selling ETH collateralized squeeth
Short Squeeth is short an ETH² position. Traders earn a funding rate for taking on this position, paid by long Squeeth holders.
AUTOMATED SQUEETH STRATEGIES
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Squeeth strategies are a collection of automated yield strategies for different market conditions that allow users to earn funding, paid by the daily funding rate of Squeeth buyers. Users simply deposit ETH and the contract automatically manages the strategy.
UNISWAP V3 SQTH-ETH LIQUIDITY PROVIDERS
Liquidity providers earn LP fees for providing SQTH-ETH liquidity. LPing in the SQTH-ETH pool is similar to being long ETH^1.5, which is constantly rebalanced or continuous ETH 1.5x leverage. Users can mint or buy Squeeth and deposit Squeeth + ETH into the Uniswap V3 SQTH-ETH Pool.
Global options-like exposure
No Strikes, No Expiries
Squeeth distills an option into pure convexity with no strikes, no expiries
Long Squeeth acts like an always at-the-money, perpetual call option
Leverage without liquidations
Long Squeeth gives traders a leveraged position with unlimited ETH² upside, protected downside, and no liquidations
Long Squeeth offers pure convexity (ETH² payoff), giving it a more favorable payoff than 2x leverage perp
Squeeth effectively takes options & removes strikes and expiries to create a single ERC20 (oSQTH) representing the entire options chain
Squeeth introduces much lower risk via hedging than non-liquid option markets
Short Squeeth and Automated Squeeth Strategies offer regular yield that is not subsidized by liquidity mining
Squeeth Strategies allow users to simply deposit ETH and the contract automatically manages the strategy
Earn yield on your cryptoassets with automated option strategies on ETH, BTC, AAVE, USDC, STETH, and YVUSDC.