GammaSwap offers perpetual options traded using DEX liquidity, enabling leveraged exposure without traditional option expiry. Panoptic is the first on-chain permissionless options protocol, allowing anyone to create and trade options without intermediaries. GammaSwap suits traders seeking perpetual, liquidity-backed options, while Panoptic is better for users who want fully open, permissionless option markets.
| Token Price | — | — |
| 24h Change | — | — |
| Market Cap | — | — |
| TVL | $1.4MDefiLlama | $1.7MDefiLlama |
| MCap Rank | #2292 | — |
| Total Raised | — | $11.5M |
| Founded | — | 2022-07 |
| Stage | — | — |
| X / Twitter | 27K | 21K |
| GitHub Stars | 9 | — |
| Chains | arbitrumbaseethereum | baseethereumunichain |
| Tags | Decentralized Finance (DeFi), Perpetuals, Arbitrum Ecosystem | Options, Derivatives, DeFi |
GammaSwap is a decentralized options protocol that enables perpetual options trading using DEX liquidity. It operates on Arbitrum, Base, and Ethereum, offering a unique matching engine for onchain settlement.
Panoptic is the first on-chain, permissionless options protocol that allows users to trade and provide liquidity for options without needing a counterparty. It enables undercollateralized option selling for greater capital efficiency and deeper liquidity, and supports portfolio margin for institutional risk management.