Alpha Synoperps

Cross margined DeFi derivatives exchange to trade options and perps on steroid

Alpha Synoperps

Created At

HackMoney 2022

Project Description

Thesis - Traditional market-makers require a single venue with deepest available liquidity that provides multiple derivative products (options, perpetuals), and allows under-collateralization with cross-margining. These projects either haven’t launched yet, or have launched very recently, and we believe that this approach is yet to be validated by the market.

There doesn’t exist any single platform where you can create strategies using options and perp together

They usually works in tandem - so we have created a DeFi protocol which can help you do that so you don’t have to hedge your options/perps somewhere else.

Powered by scalable zk rollups :

Will be deployed on zkSync

Upgradable and robust Risk engine

Decentralized and scalable order book matching engine

Cross-margining engine for all derivative vaults

Tokenized positions for every derivative position in vault

Long term plans - Global options and Perps liquidity and settlement layer

We will be continuing on this project as going forward as a part of Syndr protocol We will be moving away from Synthetic assets and venturing into this which we were

How it's Made

We are inspired by state of the art cross margining that happens in CeFi venues, but to implement that in DeFi is a major challenge in itself, for the whole hackathon we spent quite a time on figuring out specs which can work, we are still away from it's completion though.

Work In Progress -

Risk Engine (Takes care of margin and liquidations) - In progress

OrderBook Design - In progress, Contracts haven't been deployed yet, we are still working on our cross margining engine, we thought quite optimistically even for Demo, though we have frontend it's not yet hooked up.

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