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opyn | De(Fragment, Fi) ≋🦀≋ Profile picture
@opyn_
Jun 25, 2024 • 1 tweets • 1 min read • Read on X
Introducing opyn’s next protocol — opyn markets

Uniswap, but for perps

Any asset. Linear, stable, and option-like perps
TradFi capital efficiency

Perps, redefined

Landing page powering up July 1

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Keep Current with opyn | De(Fragment, Fi) ≋🦀≋

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More from @opyn_

opyn | De(Fragment, Fi) ≋🦀≋ Profile picture
Aug 14, 2024
Let's dive into FLO, the smart market making strategy that generates fees from Opyn Markets’ super concentrated perp liquidity pools 💧
Why we like FLO 🌊

FLO smart contracts LP dynamically across pools so users don’t have to manually rebalance LPs. Users can check fees received and withdraw when ready.
Users deposit an asset and FLO allocates capital across pools.
FLO runs on top of Opyn Markets Super Concentrated Liquidity Pools:

- 0-perp pool
- 0.5-perp pool
- 1-perp pool
- 2-perp pool

FLO has super concentrated liquidity due to the design of the asset pairs in the perp pools, making otherwise volatile perp assets more stable.
Read 17 tweets
opyn | De(Fragment, Fi) ≋🦀≋ Profile picture
Jul 25, 2024
Perps have been a game-changer in crypto, but they've only scratched the surface of what's possible.

We're taking perps to the next level.

Imagine perps that can replicate complex strategies, hedge unique risks, and unlock new forms of capital efficiency.

Perps, redefined🚀
👪Meet the family:

Stable perps (0-perps)
Uniswap LP perps (0.5-perps)
Normal (linear) perps (1-perps)
Squared perps (2-perps, aka Squeeth)

Each has its strengths, but together? They're a powerhouse.
📈Normal (linear) perps (1-perps):

The classic. Track asset prices 1:1. Perfect for keeping it simple with long/short positions or straightforward hedging.
Read 13 tweets
opyn | De(Fragment, Fi) ≋🦀≋ Profile picture
May 7, 2024
Crab and the Pierian liquidity spring

Today we look more deeply at the Crab strategy that is part of Opyn's Squeeth protocol and its upgraded iteration in Opyn's new soon-to-be-released protocol.

Crab is an active strategy made from a short 2-perpetual (also known as Squeeth) and a long 1-perpetual.

Crab is called Crab because it makes money when markets go sideways, like a Crab.

The payoff for Crab over a day looks like a rainbow: it makes the largest return if the market does not move at all. Crab has negative returns if the market moves too much up or down.Image
What is a Crab made of?

Crab is made by selling a 2-perpetual (Squeeth) and buying a 1-perpetual (a normal perp). The combination gives a downward bending payoff with a maximum at the current price.

(in the diagram the current price is $3000)Image
How does Crab rebalance?

Crab needs to trade each day to recenter its payoff. This happens by exchanging 2-perp for 1-perp so that the payoff is centered at the current price.

After the rebalance, the highest return is achieved if the market does not move.

In the new Opyn protocol, this rebalancing happens with a Dutch auction that starts automatically every 24 hours.
Read 7 tweets
opyn | De(Fragment, Fi) ≋🦀≋ Profile picture
Dec 7, 2022
Does somebody have a red flag? Because you just summoned THE BULL.

Terrible jokes aside, Opyn is pleased to announce its newest automated squeeth strategy: the Zen Bull 🧘‍♀️🐂

You’re going to want to read this 👇
The Zen Bull (🧘‍♀️🐂) is an automated squeeth strategy that gives depositors bull"ish" ETH exposure.

Unlike the crab strategy, which is a delta-neutral strategy that minimizes ETH price exposure (delta = 0), this strategy aims to track ETH price exposure 1:1 (delta = 1).
note: if you're unfamiliar with delta read more here: investopedia.com/terms/d/delta.…
Read 9 tweets
opyn | De(Fragment, Fi) ≋🦀≋ Profile picture
Jul 25, 2022
Did you know that Uniswap isn’t the only place you can buy or sell Squeeth?

Let’s chat 🧵
The Opyn marketing team has been blowing up your timeline with Crab v2 stuff (sorry–not sorry)!

Something we have not touched on much is the Crab auction. The Crab auction mechanism is one of the biggest changes from v1 to v2 🦀
The Crab Vault rebalances its mix of oSQTH and ETH to maintain neutral exposure to the price movements of ETH. The vault does this through an auction!

So, when the price of ETH goes down the vault sells Squeeth, and when ETH price is up the vault buys ETH.
Read 11 tweets
opyn | De(Fragment, Fi) ≋🦀≋ Profile picture
Jul 13, 2022
🗣️ CRAB v2 EARLY ACCESS SIGNUP TODAY 🦀

Bypass the caps on crab v2!

FOR A LIMITED TIME crab v1 depositors will be able to sign up for early access for crab v2.

This will guarantee your spot in crab v2 right when it drops!

Everything you need to know 👇 Image
What is crab v2?

Crab v2 aims to deliver better yield and larger caps! 😎

It does this by adjusting the way crab hedges, allowing more capacity & better hedge pricing!

• New Hedging Mechanism
• ETH or USDC Deposits
• Partial Fills of Hedges
• Variable Hedging Frequency
What does it mean to access crab v2 early?

• Early access guarantees a spot in v2
• Early access will automatically transfer crab v1 positions to crab v2 at launch
• Crab v1 will actively trade until crab v2 launch
Read 10 tweets

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