$SPCX options went live yesterday!
Hypercall is now the largest options venue in the world for the largest ipo in history.
All on Hyperliquid.
What should we list next?
Buffett did this with Goldman in 2008.
Google did this with Android in 2005.
Roche did this with Genentech in 1990.
Every generation has one of these deals.
Most people read the headline and miss the structure entirely.
$60B is the press release number.
$10B premium. $50B strike. The option already looks in the money.
SpaceX understood the assignment.
The wild part? You still can't trade this.
A $10B option with zero liquidity only two parties can touch it.
@SynapseProtocol is literally building the infrastructure to change that. Options on private companies, on-chain, for everyone.
They'll even do privates. 👀
@odysseas_eth Isn’t the problem with lean it’s a reference implementation? So while you can formally verify lean, there’s an implementation gap between lean + solidity/rust which is where SMT/Kani come in?
> be me
> build @SynapseProtocol
> $55b in volume, $35m in revenue. 2.5m users
> build Hypercall, first RWA on-chain options protocol
> I’m such a good trader, gonna crush everyone in testnet competition
> 6th place
Fuckkkkk
Most non-option natives don't realize just how much volume options premium can produce. We put together an example here showing how $114 in premium for a monthly could produce over $11k in perp volume.
We built an interactive delta hedging simulator here: https://t.co/fNOIJAHMvB
for you to play with.
The tl;dr: more options volume = more perps volume.
It goes beyond this though. Right now, we're just talking about the gross delta on BTC
SPX *alone* exceeds $1 trillion in notional daily volume on peak days *only on 0dte* options and likely produces in excess of $5b in hedging volume per day.
This is a huge market waiting to be put on-chain.