After years of false starts, Onchain options finally have the infrastructure they need to go mainstream.

Onchain options never gained traction in the past because they couldn't match CEX performance. They lacked portfolio margin, capital efficiency, and fast execution.

These are the next generation of options protocols changing this.

@DeriveXYZ is building full suite derivatives infrastructure with portfolio margin that evaluates risk holistically across all positions. Hedged positions need far less capital, and you can earn yield on Ethena stablecoins while posting collateral. They currently lead the space with over $630M in monthly volume and $75M TVL.

@ryskfinance specializes in structured products for sustainable yield. Their Dynamic Hedging Vault maintains delta neutral positioning to generate uncorrelated returns. Unlike vaults that lock your capital, their V12 engine lets you exit covered calls whenever you want, and you get paid premiums upfront instead of waiting until expiry.

@Synquote brings CEX like liquidity to DeFi by connecting traders directly with institutional market makers through a hybrid RFQ system. This creates deep liquidity with minimal slippage even on seven figure orders across 500+ instruments including illiquid altcoins. Synquote allows market makers to sell undercollateralized options with partial backing, freeing up capital for better pricing.

@KyanExchange combines a CLOB with an RFQ module for block trades, bringing institutional features onchain. Their Combo Trades feature executes multi leg strategies atomically in one click, so all legs fill together or none do. Their liquidation engine automatically delta hedges positions based on margin ratios before resorting to liquidations. Their portfolio margining uses 43 market scenarios to calculate worst case risk, and liquidations are partial to restore margin health instead of wiping out entire positions.

The race is on for onchain options to capture institutional market share.

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