An Overview of On-Chain Options in DeFi

Quick take

• Options are foundational infrastructure for any financial system, including DeFi.
• Trading volumes for options on cryptocurrencies like BTC and ETH have grown significantly in the last year, but the majority of this volume is on centralized exchanges. 
• Automated market-making systems have been extremely successful bootstrapping liquidity in swaps and lending, but have not taken off for options so far.

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