Derivatives platform Vyper Protocol launched a first-of-its-kind opportunity to trade options for non-fungible tokens (NFTs) on Solana.
Starting with the NFT collection BONKz, users could wager on whether they think BONKz goes up or down with 12 or 24-hour expiries.
Called 'the everything exchange', Vyper offers an array of derivatives products that creates many unique opportunities for degens to gamble. You could use coins like SAMO for BTC/USD options, trade on a potential default of Alameda Research, and leverage smaller coins such as BONK, DOGGO, and CHILI.
Users could create their own payoffs to create markets that traders would like to gamble on with others, with the limitations only being in the parameters you created.
Vyper is unique because it supports virtually any type of underlying and collateralized payoff through a common infrastructure for on-chain derivatives. The Vyper Core manages the collateral deposit/withdrawal as well as the position IOUs mint and burn. It is a one-stop infrastructure that enables quick prototyping and interoperability across protocols. The BONKz NFT options are a proof-of-utility for their platform.