Big news: Coinbase is acquiring Opyn’s leadership team! Opyn’s mission has been to empower others through an inclusive, fair, and open financial system. We couldn’t imagine a better place than Coinbase to carry that vision forward. We are proud of the contributions we made to DeFi: we launched the first DeFi options protocol, built option infrastructure that is still in use today by DOVs, invented Power Perpetuals, developed Squeeth, and explored what if Everything is a Perp with Opyn Markets. Thank you to our community, users, investors, partners and the Opyn team, both past and present. Coinbase shares our belief that the future of finance is onchain and they are committed to making that a reality. @andrewjleone and @alpinechicken will be joining Coinbase to help bring more products and financial infrastructure onchain to manifest that vision. To every user that traded an oToken, Squeethed with us, loved the Crab, or nerded out with our research - we sincerely thank you. 🐱 To an onchain future. 🚀

Funds will always be available even after the front end is discontinued via direct contract interactions and we will provide guides on how to interact via etherscan.

Most traders think in deltas. But delta is.....has its limitations. Most value in markets lives in the second derivative. That’s convexity. Gamma. Vega. Vol. Let’s talk about why convexity-first DeFi is inevitable.

The next defi infra battle is meta-structural: → Who controls vol infrastructure? → Who owns convexity routes? → Who gives traders programmable Gamma? Spoiler: It’s not CEXs anymore.

What if users could front-run the market makers? Uniswap LPs made millions by owning price discovery during token launches. Now, Opyn’s AMM Vaults are doing the same thing , but for perps. Here’s how 🧵

Users can take this LP position as collateral to borrow margin against these positions inside a vault to go long or short on other perps as well. & btw, Crab vaults are about to make a comeback. Stable collateral vaults would leverage crab vaults to rebalance.