Optyn

Option protocol for crypto currencies, tokens, commodities, stocks, forex & indicies

Description

Optyn(https://optyn.co) is an option protocol that addresses some of the key problems aswell as improves on existing peer-to-pool option protocols. With the you can trade options for any Chainlink oracle including crypto currencies, erc20 tokens, commodities, stocks, forex & indicies. Liquidity providers who provide option collateral are exposed to significant price movements. We built a mechanism to delta hedge the liquidity providers using swap pools. In crypto most people buy calls so if the price moves up significantly the protocol can use the swap pool to buy or sell the underlying asset, addressing that risk. Similar to how Uniswap V2 flipped order book exchanges we believe an option protocol with the following characteristics will do more volume than order book style option exchanges within 1-2 years: ● peer to pool ● provides a broad range of options markets(tokens, crypto currencies, commodities, stocks, indicies, forex) with deep liquidity pools ● remains directionally neutral so it can collect consistent premiums and not be exposed to large price movements ● pricing on a curve A functional version of the application has been deployed to the Polygon mainnet and can be accessed from https://optyn.co.

Optyn showcase

How it's made

The smart contracts are built with Soliditity & the front end is built in Vue 2. Chainlink oracles are used when getting an quote, purchasing and then exercising the option. A beta version of the solution is currently deployed and functional on the Polygon mainnet(https://optyn.co). Swap pools are uniswap V2 compatible.

Technologies used

ChainlinkEthereumThe GraphUniswap