As decentralized financial markets mature, the layers that form grow larger than their predecessor. It’s visible right now, with lending protocols and asset managers leading the Total Value Locked (TVL) in DeFi. However, derivative protocols are so early that they barely make a dent in the total value moving through…

The protocol’s first option market successfully concluded, signalling the first step over the starting line. The next option markets have already been deployed, and V2 development has started.

V2 Protocol Upgrades

  • Option AMM to improve slippage by 100x. (This is going to have its own introduction post).
  • Upgrade core option tokens with ‘permit’…

The Primitive Interface home page.

The tokens living on Ethereum are a spectrum of ownership: from art to stablecoins to entire decentralized protocols. These tokens have markets to facilitate swapping, borrowing, and lending, which lay the foundation for the next large markets: derivatives. …

Zeus

tl:dr: Exercising an option will pay you first.

For the past few weeks we have been testing the contracts and optimizing their gas usage. In the process of this, we noticed that by reorganizing the logic in the exercise function, we can enable flash exercises.

Vanilla options are often never exercised because it uses the option. The option…

Prometheus Carrying Fire — Jan Cossiers (1600–1671) — Prado Museum

tl:dr: Smart tokens are ERC-20 tokens with extra features.

The ERC-20 standard is powerful for a few reasons, but one of them is how easy it is to build liquidity around. These tokens are plugged into liquidity models with ease, and what we get is a more liquid market that is better for all parties. …

At 11:30 A.M. we announced our alpha release. Two hours later, we discovered a bug.

TL:DR

  • The bug prevents purchasing Primes from the Pool.
  • Current Prime holders are not at risk due to this bug. If you have Prime tokens, you can still freely exercise. We recommend you do so.
  • No…

Prometheus tortured by the eagle. Christian Griepenkerl (1839–1916).

In Greek mythology, the Titan Prometheus steals fire from the Gods and brings it to Earth’s humanist civilization. Also accredited with molding humanity from clay, the rebellious Titan was eternally punished for his theft of fire. However, with fire, humans could extend their civilization beyond their clay limitations and into…

Primitive

Permissionless options protocol. Built on Ethereum.

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