josh.pwrk
@josh_pwrkhead of eng @derivexyz, ex-apple iPhone & VisionPro
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1/ In a DeFi world, orderbooks are just interfaces to underlying DEXs. But that description, although accurate, underestimates the work required to make an orderbook functional and performant. Careful design and integration of dozens of micro-services is required.
.@derivexyz joining the top 10 in mgas/s as @kaiynne is up 300% on BTC to 100K calls
I don’t often trade but with a setup like last week I couldn’t help myself but yolo some options on @derivexyz
Options are best way to get leverage without getting blown out. Last thing you wanna do is lose your bag during a monster rally because of a 30% daily red candle.
I don’t often trade but with a setup like last week I couldn’t help myself but yolo some options on @derivexyz
Overheard at breakfast, 70 yo couple discussing Polymarket vs mainstream media odds discrepancy. 2025 will be glorious
Pretty sure @derivexyz is currently the 3rd largest on chain exchange based on OI. Hyperliquid: ~1b DYDX: ~220m Derive: 122m, Synthetix: 120m, Drift: 116m Who am I missing? Numbers from here: coingecko.com/en/exchanges/d…
The largest ever onchain options trade just printed on @derivexyz 📈📈📈 A $25m BTC trade which has some significant election readthroughs 🌋
Widest selection of collateral + lower borrow rates + trade against collateral. Any other place in defi that has this?
Defi Legos are here - EtherFi, Swell, Kelp, Lombard collaterals supported! Borrow, trade perps, options, deploy into a structured product vault.
name another DEX that lets you trade options and perps with: - etherfi, swell, kelp restaked ETH - lombard BTC - ethena sUSDe/USDe - coinbase BTC i'll wait
Hmmm… actually not a bad trade 😂
Sell 1x ETH 2500 puts to buy 6x 10,000 calls Put this on and receive $10 per trade -> Do this 100x and you need about $88,000 in collat -> Then if ETH goes to 20k you make $6,000,000 (If ETH is above 2500 you win $1,000, too)
Crypto’s modular vs monolithic is AI’s LIDAR vs vision. Left curve take is that both will be used in 10 years, just in slightly different use cases.
Options are to finance what low-level languages are to software. - it’s a steep learning curve - on top of price and time, the trader must also think about volatility (similar to how forcing engineer to handle memory allocation is why C++ is a pain vs Python) -but like memory…
Is there actually anywhere on-chain you can get: - 5-10x ETH, BTC leverage 1-year out - no liquidation risk - with size Other than @derivexyz?
The first short put spread and short call spread vaults in DeFi. The issue with covered call vaults was the potential downside in ETH-terms. You’d earn tons of yield but on that one gigantic ETH move, you part with a chunk of your ETH. Selling spreads, not single calls, solves…
LBTC is now on Derive $LBTC holders can now access automated options strategies on @derivexyz to earn a real yield while minimizing risk. Additionally, LBTC depositors can earn 3x DRV Points, 2x Lombard Lux, and native staking rewards.
The derivatives hub - most liquid onchain options - perps - lending (sDAI, sUSDe, LRTs, wstETH) - cross margin - sUSDe, weETH, rswETH structured products +++ much more
The @lyrafinance team are cooking up a whole suite of innovative structured products built on sUSDe The first is a leveraged upside ETH product: lyra.finance/yield/susdebull
Today, we're partnering with @ethena_labs to provide users extra upside exposure to ETH without risking any of their initial capital. Earn 2.5x on your sUSDe yield when ETH goes up, preserve your sUSDe yield when ETH is flat. Deposit now → lyra.finance/yield/susdebull
$50M✅
Today we're opening deposits to our new Kelp covered call product in collaboration with @KelpDAO Deposit $rsETH and earn: • 10-50% APY on covered calls • 2x LDX points • 2x Kelp Miles • $EIGEN and ETH Staking Rewards Deposit now → lyra.finance/yield/rsethc
@lyrafinance is a DeFi derivatives powerhouse for trading perpetuals, options, and tokenized derivatives yield Lyra Chain is now the second largest consumer of Celestia blobspace as the protocol reaches ATHs in trading volume and users
The real left curve take on @lyrafinance is this: All we do is survive, just like Amazon created AWS just to live to see the day Prime hit mainstream. Patience. There is no replacement for the option derivative. They’ve been around for hundreds of years. Adoption will grow,…
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