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01 Exchange

01 Exchange

01 Exchange is a decentralized Derivatives Exchange on Solana.

Decentralized Derivatives Exchange on Solana. By traders, for traders.

01 is a fully decentralized derivatives protocol. 01 runs on smart contracts built on the Solana blockchain, the most performant, fast, and low cost blockchain.

Perpetual Futures | 01 offers powerful deep liquidity perpetual futures markets, empowering traders with up to 20x their buying power.

Power Perpetuals | 01 is the first protocol to introduce orderbook based power perpetuals, a novel asset type providing global option-like exposure.

Yield-bearing Deposits | All deposits on 01 accrue passive APY through algorithmic borrow lending markets.

Decentralized Orderbook | 01 is built with Serum's fully decentralized on-chain limit orderbook, providing traders with the ultimate trading experience, without sacrificing decentralization.

Cross-Collateral | Traders can deposit a variety of supported tokens as collateral for their positions, saving on swap fees.

Cross-Margin | Leverage is shared across all positions under a single account, allowing for unparalleled capital efficiency.

01 team is building decentralized derivatives on Solana, starting with binary options and everlasting options. Everlastings are an entirely new type of derivatives that promise to bring the power and efficiency of perps to the world of options. We’re very excited by the new types of trading strategies and composable products that it will enable. All of this in a cross-margin and collateral backend. Building on Solana also means being able to build on top of a full orderbook in a decentralized environment.

Everlastings are very new. It was first introduced by Dave White and SBF earlier this year. team has quickly realized how big the idea was for the DeFi space. In the same vein that perpetuals were able to take trade futures and turn them into a defi-friendly asset by combining all the different expiries, everlastings will be able to consolidate all expiries, as well as strikes (using floating strikes) and also possibly call/puts with an FTX move-like contract. A big barrier to options in crypto has always been liquidity and volume fragmentation. Everlastings can solve this.

Serum’s orderbook is what makes Solana the ideal place to build such a protocol. Thanks to Serum, mainnet is able to fully leverage CEX-like capabilities in a fully decentralized environment. You can’t find this elsewhere in DeFi.

The beauty of everlastings is that it makes options trading magnitudes simpler for everyone, and that’s the effect we’ve observed with perps. Of course the usual market makers will be present, but the exact ratio remains to be seen…everlastings are a key stepping stone towards making options trading more accessible to more people.

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