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Ivy Markets
@IvyMarkets
The first Intent-based Option Architecture for token issuers, model operators, desks, and quants. Built by ex-Bridgewater and NYSE vol traders.
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This is giving us an idea for a metric. Delta-weighted notional. The problem is that notional doesn't mean much in options if there isn't additional risk metrics associated. For extreme illustration - if I trade the BTC 1,000,000,000 Strike call 10x for $0.01 that's 10B notional
Onchain options are no longer a one-venue market.
Notional volume more than doubled to $4.83B in September. Derive nearly kept pace and remains the clear leader. Its share of notional eased from 88.1% to 79.3% as two smaller venues grew even faster.
Hypercall and Paradex together held under 4% of the market in August. Hypercall went from $9.4M to $538.8M in a single month and now ranks second. Paradex nearly quadrupled after opening its request-for-quote system to the public.
Onchain options are starting to look like a competitive market.View quoted post on X
Every negotiation ends the moment one side learns the other's minimum.
The bid lands one tick above the number, and everything else stays with the bidder.
On IVY the number stays private. Makers compete with each other. The best valid bid fills.
The bid lands one tick above the number, and everything else stays with the bidder.
On IVY the number stays private. Makers compete with each other. The best valid bid fills.
Every options platform starts with a pre-packaged set of strikes and maturities.
That is the wrong end of the problem. Nobody wants an option. They want an outcome.
State the yield. IVY builds the position.
That is the wrong end of the problem. Nobody wants an option. They want an outcome.
State the yield. IVY builds the position.
Every yield product arrives with the rate already decided.
IVY asks for yours.
Name the minimum APR. Market makers bid for it, and the best valid bid wins.
IVY asks for yours.
Name the minimum APR. Market makers bid for it, and the best valid bid wins.
