Vypher Protocol Launches BONKz NFT Options
Vyper Protocol launches first-of-its-kind NFT options on Solana NFT project BONKz. Users could wager whether they think BONKz goes up or down with 12 or 24-hour expires. This move brings derivative contracts to NFTs for leveraged speculation.
- Author: Illustrious
- Published: January 22, 2023 at 00:00
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.
Ok so Twitter is stopping us from sending DMs as you guys are too many 😳 for that, thanks you!
— Vyper Protocol (@VyperProtocol) January 22, 2023
And for the link... Here it is 👇https://t.co/Mu9hw22w0R pic.twitter.com/GlClQyL4ko
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.