Inspiration

Option is the most traded derivative instruments. Centralized option markets exist for a long time. Crypto options like Dydx also exist, but works only for Ethereum.

What it does

Create and trade options in the following manner:

  • trustless
  • no counter-party risk.

Classical option types are supported:

  • Call
  • Put

These style of options are supported:

  • European
  • Amercian

Uncovered Options

More importantly, we have an interesting approach to do uncovered (naked) options. Crypto options like Dydx only does covered option, where the underlying asset are owned by the option writers. Here, we will present an interesting approach that allow naked options to exist in decentralized manner.

Inter-chain token transfer

How I built it

Built using Tendermint with Lotionjs framework. Tendermint takes care of consensus protocol and p2p networking. We can define the transaction format on our own. We build option contracts that are enforced by every node. We also build an option market for people to trade options.

Challenges I ran into

I am using Lotionjs, IBC is not yet supported on Lotionjs. I have to learn IBC and try to do something similar to IBC protocol on Lotionjs on my own.

Accomplishments that I'm proud of

What I learned

What's next for Decentralized Option

More IBC stuff.

Built With

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