The first Intent-based Option Architecture for token issuers, model operators, desks, and quants. Built by ex-Bridgewater and NYSE vol traders.
Joined April 2026
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This is giving us an idea for a metric. Delta-weighted notional. The problem is that notional doesn't mean much in options if there isn't additional risk metrics associated. For extreme illustration - if I trade the BTC 1,000,000,000 Strike call 10x for $0.01 that's 10B notional
Onchain options are no longer a one-venue market.
Notional volume more than doubled to $4.83B in September. Derive nearly kept pace and remains the clear leader. Its share of notional eased from 88.1% to 79.3% as two smaller venues grew even faster.
Hypercall and Paradex together held under 4% of the market in August. Hypercall went from $9.4M to $538.8M in a single month and now ranks second. Paradex nearly quadrupled after opening its request-for-quote system to the public.
Onchain options are starting to look like a competitive market.
Every negotiation ends the moment one side learns the other's minimum.
The bid lands one tick above the number, and everything else stays with the bidder.
On IVY the number stays private. Makers compete with each other. The best valid bid fills.
Every options platform starts with a pre-packaged set of strikes and maturities.
That is the wrong end of the problem. Nobody wants an option. They want an outcome.
State the yield. IVY builds the position.
Every yield product arrives with the rate already decided.
IVY asks for yours.
Name the minimum APR. Market makers bid for it, and the best valid bid wins.
Only NINE of the worlds largest on-chain assets have a liquid options market.
IVY changes that for the other 491.
A request creates the market.
Pick the asset.
Pick the strike.
Pick the expiry.
Set your minimum premium.
Market makers compete for the trade
Every token is one request away from becoming optionable
An options market today is a pre-packaged set of strikes and maturities.
In some cases, 70% of strikes have 0 open interest.
None of it was designed around what you need.
On IVY you state the conditions instead: how far above spot, for how long, and the minimum you would accept. IVY prices that market and opens it.
Options, on your terms.
A token position is exposure to the price and nothing else.
The volatility around that price is a separate asset, and it can be captured without touching the position.
Every token has volatility. That volatility has value.
It can be captured without selling the token itself.
For most tokens there has never been anywhere to do that.
That is the market IVY is building.
Ivy Markets retweeted
Vibe Trading LIVE: Onchain Stocks & Options ft. ShiftRWA & IvyMarkets xitter.cf/i/broadcasts/1qGvvvnjW…
