Opinion (OPN)

“On-chain Options Track Relaunch: From Complex Tools to Real Demand” (author Castle Labs; compiled by 深潮 TechFlow) On-chain options have repeatedly failed due to insufficient liquidity, low capital efficiency, pricing difficulties, and a complex user experience. Early protocols such as Opyn, Hegic, Ribbon, Lyra, etc., failed to establish a sustainable market. However, with Rollup reducing costs, CLOB and RFQ improving market-making conditions, rising institutional demand for crypto options, and prediction markets educating users to accept nonlinear returns, on-chain options are beginning to revive. Currently, protocols like Derive, Rysk, Aevo are each exploring paths as specialized exchanges, yield‑generating options, and integrated derivatives platforms, respectively. The key for the track remains whether a real use case can be found that contracts and prediction markets cannot replace. Read the full article: https://t.co/ckDVbVrAJX

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