Vyper DEX

Overview

Vyper DEX is a derivatives decentralised exchange where users can trade various derivatives products on a wide range of assets.
The exchange is the first application built on top of Vyper Protocol, and the architecture of the protocol allows the quick deployment of new markets (futures, options, binary and more) in less than 60 seconds.

Oracles

Vyper currently supports any oracle from the integrated provider:
  • ​Pyth delivers real-time market data for crypto, equities, forex, and commodities to smart contracts across 13+ blockchains — all sourced and aggregated from 70+ major market participants, such as Jane Street, CBOE, DRW Cumberland, Binance, OKX, and more
  • ​Switchboard is a generalized, community-curated oracle network designed to incentivize bringing the long tail of data on-chain

Instruments

Vyper currently supports three types of derivatives instruments:
  • ​Forward Contract, which gives linear exposure to an underlying
  • ​Digital Option, which pays out a fixed amount on the condition that a certain event happens, while paying 0 otherwise
  • ​Vanilla Option are the most popular of non-linear derivatives. It gives the option buyer the right, but not the obligation, to buy or sell the underlying

Liquidity

Two main types of users use Vyper DEX:
  • Traders (liquidity takers), who use Vyper to trade derivatives. They can either buy options from or sell options to Liquidity Providers
  • Liquidity providers (LPs), who provide liquidity to traders. LPs receive a Request for Quote (RFQ) from traders who signal their willingness to buy or sell a given instrument at certain conditions and answer with a tradeable price. LPs is currently restricted to a selected number of users, reach out on Discord if you want to become one
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