Panoptic, a decentralized options protocol, launched its beta platform today. With its launch, select members of the public became the first people to trade a brand new DeFi-native derivative: perpetual options.
As the name suggests, perpetual options have the same financial functionality as traditional options, but without an expiry date. If you’re familiar with options trading, think of a 12 second expiring option that automatically rolls perpetually.
The advantage of perpetual options over expiring options is that they offer the same exposure to the underlying asset without the hassle of managing expiration dates or incurring costs to roll, or extend, the option for continued exposure to the underlying asset. The removal of expiries also consolidates liquidity across options – providing better pricing and flexibility for traders entering and exiting positions.
The intuitive options trading platform built by the Panoptic team allows users to actively manage their positions and execute a variety of option strategies from simple puts to covered calls and iron condors.
Panoptic’s protocol is built on top of Uniswap v3, one of the largest decentralized exchanges (DEXs) in the world. This strategic build allows users to trade options on any ERC-20 token available on Uniswap, expanding the infrastructure of the DeFi ecosystem.
About Panoptic’s Beta Launch
Panoptic’s gated, beta launch will take place in several rounds of trading competitions called epochs. The first epoch is capped at 32 participants. The following rounds will be expanded to include more people.
During the beta launch, the company is giving away $100,000 to top traders, bug reporters, and participants. On the opposite side, underperforming traders run the risk of being removed from future epochs. This feature of the trading competition is in place to encourage robust participation from all traders.
People involved in the beta launch are able to partake in three different activities: providing liquidity as Panoptic Liquidity Providers (PLPs), buying options, and selling options. To prepare, participants are encouraged to read through the gated launch parameters to better understand these roles.
The goal of Panoptic’s gated launch is to empower users to explore the platform, trade real options, and provide feedback. As a beta launch, submitting feedback is highly valued by the team as it works toward the protocol’s full-scale launch.
If you’re interested in being a part of future epochs of Panoptic’s beta launch, sign up here.
Join the growing community of Panoptimists and be the first to hear our latest updates by following us on our social media platforms. To learn more about Panoptic and all things DeFi options, check out our docs and head to our website.