DeFi options protocol launches with social logins, margin trading, attempts to court institutional liquidity
A DeFi options platform launched that uses social logins and undercollateralized trading to draw in liquidity providers, according to a June 15 announcement . The protocol, called “Synquote,” is capable of handling large trades with much less slippage than previous options platforms, the team claimed.According to the announcement, Synquote did over $25 million of notional volume in its beta period, which began on March 17.
Second, the protocol allows liquidity providers to make undercollateralized trades. For example, they can issue or sell options with “as little USDC [US Dollar Coin] as 1/10 of the underlying asset’s value if [they’re] selling a short-dated naked call.” This is in contrast to most DeFi options protocols that require full collateralization.
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