Prior to this last year, you could say DeFi options had failed. Ribbon, Opyn, and a long list of protocols shut down or pivoted. Two years ago, Rysk almost joined them, coming close to quitting with no real product-market fit.
But in a new episode of our DeFi Frontier series on The Edge Podcast, Rysk Founder Daniele Ugolini walks us through how Rysk rebuilt from scratch by solving the one thing every other options protocol got wrong: making it simple enough for anyone to actually use.
Currently used by 60% of liquidity on Rysk, cash secured puts allow depositors to earn upwards of 3-digit yield in stablecoins (USDH, USDT0, USDC) while setting a price you're happy to buy BTC, HYPE, ETH, or SOL at, on Hyperliquid. Covered calls instead lets you earn a premium on assets you're willing to sell at a higher price. Both strategies settle every Friday, 90% of users roll their positions, and all without ever mentioning the word “option” on the frontend app.
If you've wanted to use options but never trusted yourself to do it right, this is a great episode, one that left Nomatic and me with real intent to earn stablecoin yield in these market conditions where we would be willing buyers of BTC, ETH, and HYPE via cash secured puts.
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🔗 Guest Links 🔗
► Rysk website: rysk.finance
► Rysk on X: x.com/ryskfinance
► Daniele Ugolini on X: x.com/DanDeFiEd
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DISCLAIMER: Nothing written in The Edge Newsletter or said on The Edge Podcast is a recommendation to buy or sell tokens or securities. This content is for educational and entertainment purposes only. Nothing shared here is financial advice. Any views expressed in our content are solely the opinion of that writer, host, or guest. Always do your own research. DeFi Dad, Nomatic, and guests may have positions in the assets or other matters discussed in this content. Nomatic holds HYPE, BTC, and ETH. DeFi Dad holds ETH and BTC.
