June 25, 2025
The next submit incorporates a recap of stories, tasks, and essential updates from the Spartan Council and Core Contributors from final week.
👉TLDR
Spartan Area with Panoptic:
- Panoptic: DeFi-native choices buying and selling utilizing Uniswap V3 — no market makers, no expirations.
- Buying and selling methods give attention to payment technology and capital preservation, not simply hypothesis.
- Strangles: Shopping for/promoting a put and a name at totally different strike costs.
- Straddles: Shopping for/promoting a put and a name on the identical strike worth.
- Threat administration is vital: Delta-neutral positions, capped losses, and regular yields.
- Perps vs. Choices.
- New options coming quickly: Backtesting device & AI-powered buying and selling assistants.
- Stay now: BTC/USDC buying and selling competitors.
- Rosalie’s recommendation: Begin small, keep curious, and use DeFi as a device for monetary empowerment.
Spartan Council and SIP updates
Final week Synthetix hosted a Spartan Area with Panoptic, a decentralized choices buying and selling protocol constructed on Uniswap V3. Burt chatted with Rosalie, who joined to speak about DeFi choices, danger administration, and the way Panoptic is rethinking derivatives buying and selling from the bottom up.
Rosalie does advertising and marketing at Panoptic and bought her begin in crypto throughout a university blockchain course the place she purchased her first Bitcoin from a merchandising machine in Chinatown (sure, actually). After hopping via internships and blockchain jobs, she’s now knee-deep in choices buying and selling (solely in DeFi) — no TradFi expertise wanted.
She’s been actively buying and selling choices for the final 3 to 4 months and is enthusiastic about making monetary schooling extra accessible, particularly within the crypto area. Rosalie went on to debate what makes Panoptic totally different, primarily explaining how the platform is constructed on high of the Uniswap liquidity mannequin and allows perpetual choices, which don’t expire and are settled each block. So there aren’t any centralized market makers; as a substitute, merchants borrow and purchase liquidity immediately from swimming pools.
Examples of in style buying and selling swimming pools at the moment obtainable on the Panoptic platform embody:
- ETH/USDC
- BTC/USDC
- BTC/ETH
- UNI-based swimming pools
You too can create your individual markets if you wish to commerce any particular tokens which might be on Uniswap. The platform is designed to make choices buying and selling each capital-efficient and versatile!
Rosalie then walked the viewers although a few widespread methods used on Panoptic, akin to:
- Strangles: Shopping for/promoting a put and a name at totally different strike costs
- Straddles: Shopping for/promoting a put and a name on the identical strike worth
These are all about gathering charges during times of worth stability, however the true edge in DeFi choices comes from danger administration moderately than hypothesis. Some core ideas she laid out had been:
- Preserving capital earlier than chasing earnings
- Constructing delta-neutral positions to reduce directional danger
- At all times capping potential losses
- And even when your worth prediction is flawed, good technique nonetheless makes cash
The Spartan Area additionally went right into a little bit of a dialogue on the variations between perpetual futures and choices, primarily that perps are simpler to hedge and extra in style for speculative trades, and choices are more durable to make use of however provide higher strategic flexibility and nuanced danger profiles.
All through the decision, Rosalie additionally reiterated in normal some platform options price noting:
- Perpetual choices: As beforehand talked about, Panoptic has perpetual choices, which don’t expire like conventional choices.
- Consumer interface: The platform has a enjoyable and interactive interface with a modern UI and visible charts.
- Upcoming options:
- There’ll quickly be a backtesting device to simulate methods.
- And the long-term imaginative and prescient consists of AI buying and selling assistants, pure language interfaces, and extra.
Lastly, Rosalie and Burt mentioned Panoptic’s present buying and selling competitors on the BTC/USDC pool, the place there’s a factors program and a few distinctive prizes (sure, there’s a Michael Saylor pillow concerned).
All in all, should you’re curious however cautious, Rosalie recommends beginning small and utilizing the platform’s academic instruments — study the mechanics earlier than diving in deep!
