Vyper Protocol

Vyper is a protocol to create, trade, and settle on-chain permisionless derivatives

Overview

Vyper Protocol is deployed as a set of smart contracts on the Solana blockchain.

Vyper's innovative approach creates a common infrastructure for on-chain derivatives, increasing scalability and greatly reducing costs.

Vyper is unique in bringing scalability and modularity to DeFi derivatives, replicating many of the existing features of TradFi for a fraction of the cost.

Architecture

Vyper is built with composability at its core, enabling application layers to be built on top of a common infrastructure.

At a high level it's composed of a key part called Vyper Core which manages the collateral deposit/withdraw as well as the position IOUs mint and burn.

Vyper Core uses smart contract plugins to provide all the functionalities needed for DeFi. In particular, the Oracle Plugin provides a general abstraction over different oracles (currently we support Pyth and Switchboard), while the Payoff Plugin provides the payoff formula to settle the trade.

On top of Vyper Core we also built Vyper OTC, a smart contract layer that powers the Vyper DEX.

For a more technical overview check out here.

Building on Vyper

Vyper Core is open-source which means anyone can build their own payoff and deploy it in just a few clicks. In many use cases, the specific use cases requires a more sophisticated interaction mechanism between the end user and Vyper Core. In those instances, application layers can be built on top of the Vyper Core infrastructure, catering to specific use cases.

Resources

Github repo: https://github.com/vyper-protocol