Fintech & EM-focused Analyst, KT Capital Group

Alec Tseung

Fintech & EM-focused Analyst

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Crypto

<ul>
<li>Options offer an additional source of yield that could be much more sustainable in the long run for investors in DeFi.  </li>
<li>The current ecosystem of DeFi options protocols is divided into two main layers - the marketplace layer and the structured product layer.</li>
<li>Opyn, Ribbon Finance, and Dopex are the three protocols we think will have an exciting year ahead.</li>
</ul>


Options offer an additional source of yield that could be much more sustainable in the long run for investors in DeFi.  
The current ecosystem of DeFi options protocols is divided into two main layers - the marketplace layer and the structured product layer.
Opyn, Ribbon Finance, and Dopex are the three protocols we think will have an exciting year ahead.


DeFi Options Protocols Series (#1): The New "Robhinhood" Of DeFi?

<ul>
<li>Bringing yields from real-world assets on-chain is one of the major themes for DeFi, given the high interest rate environment.</li>
<li>The natural extension to that would be bringing yields from real-world risks on-chain, a space that has not been explored extensively yet. </li>
<li>DeFi options protocols could look to cover these real-world risks as they seek further growth. </li>
</ul>


Bringing yields from real-world assets on-chain is one of the major themes for DeFi, given the high interest rate environment.
The natural extension to that would be bringing yields from real-world risks on-chain, a space that has not been explored extensively yet. 
DeFi options protocols could look to cover these real-world risks as they seek further growth. 


DeFi Options Protocols Series (#4): Bringing Real World Risks On-Chain?

<ul>
<li>DeFi options protocols' TVL did not change much in the past three months despite the bear market we are now in.</li>
<li>Many (TradFi) institutions and institutional investors we spoke to believed the next bull market/major innovations in DeFi might be coming from protocols that offer yields from real-world assets. </li>
<li>To drive the next phase of growth, options protocols should leverage their composability to tap into it by offering those protocols additional use cases related to options. </li>
</ul>


DeFi options protocols' TVL did not change much in the past three months despite the bear market we are now in.
Many (TradFi) institutions and institutional investors we spoke to believed the next bull market/major innovations in DeFi might be coming from protocols that offer yields from real-world assets. 
To drive the next phase of growth, options protocols should leverage their composability to tap into it by offering those protocols additional use cases related to options. 


DeFi Options Protocols Series (#3): Where Can the Next Phase of Growth Come From?

<ul>
<li>DeFi options protocol's TVL dropped significantly over the past three months since the collapse of Terra/Luna and amid a series of crypto platforms' liquidations and withdrawal freezes.</li>
<li>Albeit this, the three protocols we highlighted in our first note have shown no signs of slowing down in terms of launching new updates and products.</li>
<li>DeFi options protocols are still at the beginning of their development and need to see to some of their own issues before being able to challenge CeFi/Deribit.</li>
</ul>


DeFi options protocol's TVL dropped significantly over the past three months since the collapse of Terra/Luna and amid a series of crypto platforms' liquidations and withdrawal freezes.
Albeit this, the three protocols we highlighted in our first note have shown no signs of slowing down in terms of launching new updates and products.
DeFi options protocols are still at the beginning of their development and need to see to some of their own issues before being able to challenge CeFi/Deribit.


DeFi Options Protocols Series (#2): The Story of David and Goliath?

Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<p>For our next Webinar, we are delighted to welcome back Analyst <a href="https://www.smartkarma.com/profiles/alec-tseung" target="_blank" data-smartkarma-citation="accounts:20480" rel="noopener">Alec Tseung</a> who will talk about the fundamental ideas of DeFi options protocols. Alec will introduce and go through the key aspects of the three currently leading protocols: <a href="https://www.smartkarma.com/entities/opyn-squeeth" target="_blank" data-smartkarma-citation="entities:35935" rel="noopener">Opyn Squeeth (OSQTH CURNCY)</a>, <a href="https://www.smartkarma.com/entities/ribbon-finance" target="_blank" data-smartkarma-citation="entities:35936" rel="noopener">Ribbon Finance (RBN CURNCY)</a>, and <a href="https://www.smartkarma.com/entities/dopex" target="_blank" data-smartkarma-citation="entities:35937" rel="noopener">Dopex (DPX CURNCY)</a>.</p>
<h3>The webinar was hosted on Wednesday, 6 July 2022, 17:00 SGT/HKT.</h3>
<p>Subscribe to the podcast feed and listen on the go:</p>
<p><iframe src="https://open.spotify.com/embed/episode/2dOHmHUXkzjMQsPztV3Bq7?utm_source=generator" width="100%" height="352" style="border-radius: 12px;" frameborder="0" allowfullscreen="allowfullscreen" allow="autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture"></iframe><span style="font-size: var(--content-font-size);">Alec is a Fintech &amp; EM-focused Analyst. He previously spent time with Tencent, where he was responsible for the group's investments in the overseas markets (Southeast Asia, the Middle East, and Europe). Prior to Tencent, he was in the Principal Investments team at Swiss Re, where he focused on driving the group's investments into financial services and Fintech sectors in APAC. He has been responsible for a wide range of investments and transactions (venture/growth, buyout, direct secondaries, etc.) totalled &gt;$5 billion.</span></p>

For our next Webinar, we are delighted to welcome back Analyst Alec Tseung who will talk about the fundamental ideas of DeFi options protocols. Alec will introduce and go through the key aspects of the three currently leading protocols: Opyn Squeeth (OSQTH CURNCY), Ribbon Finance (RBN CURNCY), and Dopex (DPX CURNCY).
The webinar was hosted on Wednesday, 6 July 2022, 17:00 SGT/HKT.
Subscribe to the podcast feed and listen on the go:
Alec is a Fintech &amp; EM-focused Analyst. He previously spent time with Tencent, where he was responsible for the group's investments in the overseas markets (Southeast Asia, the Middle East, and Europe). Prior to Tencent, he was in the Principal Investments team at Swiss Re, where he focused on driving the group's investments into financial services and Fintech sectors in APAC. He has been responsible for a wide range of investments and transactions (venture/growth, buyout, direct secondaries, etc.) totalled &gt;$5 billion.

Smartkarma Webinar | DeFi Options Protocols

Opyn Squeeth (OSQTH CURNCY)

DeFi Options Protocols Series (#1): The New "Robhinhood" Of DeFi?

The first piece of a four-part DeFi options protocols series which delves into the three protocols (Opyn, Ribbon Finance, and Dopex) that we think...

Alec Tseung

DeFi Options Protocols Series (#4): Bringing Real World Risks On-Chain?

Bringing real-world risks on-chain is the natural extension of RWAs protocols. DeFi options protocols could look to cover these real-world risks,...

Alec Tseung

DeFi Options Protocols Series (#3): Where Can the Next Phase of Growth Come From?

In the third piece, we continued providing updates on Opyn, Ribbon, Dopex and shared how some (TradFi) institutions we spoke to viewed the whole...

Alec Tseung

DeFi Options Protocols Series (#2): The Story of David and Goliath?

This second piece highlighted the key product updates from Opyn, Ribbon Finance, and Dopex over the past 3 months. Albeit the crypto winter, they...

Alec Tseung

Smartkarma Webinar | DeFi Options Protocols

On 6 July, 5pm SGT, join our Webinar with Analyst Alec Tseung, who will cover the fundamental ideas of DeFI options protocols.

Smartkarma Research