The top Options projects, ranked by prominence — TVL, market cap, funding, and on-chain activity.

Flying Tulip
Custom lending & perps across Sonic and Ethereum

Strike
Decentralized lending and borrowing on Ethereum.

Thetanuts Finance
Decentralized altcoin options protocol for DeFi

Opium
Universal decentralized derivatives protocol

Aevo
High-performance decentralized options and perps exchange.

Ithaca Protocol
The Uniswap of Options

SIREN
Decentralized, fully-collateralized options on Ethereum

Rain
Permissionless prediction markets, fully on-chain.

Ribbon Finance
Structured products for DeFi portfolios

Derive
Programmable onchain options and perps exchange

Thales
Liquidity and settlement for prediction markets.

Jones DAO
Yield, strategy, and liquidity for DeFi options.

Dual Finance
Tokenization engine for real world assets

katana
Automated options yield on Solana

Ryze.Fi
Binary options for crypto price speculation

Opyn
acquiredPioneer of DeFi options and convexity trading.

Exotic Markets
Real options, automated yield on Solana

Panoptic
First on-chain permissionless options protocol

Oddz
Multi-chain options trading with rewards

Deribit
The leading crypto derivatives exchange

Hedgehog
Automated Uniswap V3 liquidity with Squeeth hedging

Hegic
Decentralized options trading on Arbitrum and Ethereum

GammaSwap
Trade perpetual options with DEX liquidity

Polynomial
defunctUnlocking the full potential of DeFi derivatives

Deri Protocol
Your option, your future — on-chain derivatives

RCH Token
Decentralized settlement for on-chain finance

Stryke
Decentralized options protocol

Premia
Next-gen options and meta-vaults for DeFi

Helmet Insure
P2P price-shield insurance for crypto assets

Auctus
Decentralized options protocol for DeFi

A.T.M. by BaseVol

Bitune

Divergence Protocol

LogX Network

PsyFi
defunctDecentralized options trading platform

Typus

Lien
Ethereum-based options protocol

Deriverse
Derivatives DEX on Solana

HXRO

Hedget

Eve
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Racks
Decentralized derivatives trading platform

Epicentral Labs

Moret
AMM protocol for crypto option trading

Caddy Finance
LSD Options Protocol

Dopex

Bynomo

Silo Protocol
Decentralized strategy protocol for ALGO and Algorand Standard Assets

SignalPlus
Options trading platform

Pod
Decentralized options AMM for everyone