Perpetual options protocol
Trade volatility.
Earn more from your liquidity.
Panoptic turns AMM liquidity into perpetual options, creating an options market with no order books and no expiries.
Your AMM liquidity is the option.
A concentrated liquidity position already behaves like an option: it gains and loses as price moves through its range. Panoptic makes that explicit. Traders borrow a range to open a position, and pay the provider a fee that streams for as long as they hold it.
Because the AMM does the pricing, there is nothing else to build around it — no separate pool of options liquidity, no order book to match against, and no expiry date forcing anyone out of a position.
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No order books.
No oracles. No expiries.
These are consequences of building options out of AMM liquidity, not features bolted onto a conventional options venue.
Perpetual by construction
Options have no expiry because there is no contract to expire. Positions stay open until you close them, so there is nothing to roll and no expiry cliff to trade around.
AMM-native
Options are built directly from concentrated liquidity positions. There is no separate pool of options liquidity to bootstrap before a market can function.
No order book
Nothing needs to be matched against a counterparty. Pricing is path-dependent and derived from the AMM, so liquidity is never waiting on a market maker to quote.
Permissionless markets
Any token pair with a Uniswap pool can become an options market. Nobody has to list it, and no oracle has to support it.
Composable
Positions are onchain primitives other protocols can build on — vaults, structured products, and hedging strategies all read from the same contracts.
Oracle-free
Prices come from Uniswap liquidity itself rather than an external feed, removing a whole class of manipulation and downtime risk.
Trust the code,
not the counterparty.
Security isn't a feature — it's the foundation. Panoptic is designed to minimize trust assumptions everywhere they arise.
Non-Custodial
Your keys, your funds. No counterparty risk — every position lives directly on-chain.
Oracle-Free
Pricing derived from Uniswap liquidity. No external oracle dependencies or manipulation vectors.
Battle-Tested
Multiple independent security audits, formal verification, and a competitive audit program.
Public Code
Every line of smart contract code is publicly verifiable on GitHub. Transparency by default.
Live on Ethereum.
Panoptic V2 is live on Ethereum mainnet — where the deepest liquidity lives. Multi-chain expansion to follow.
Institutional conviction.
Frequently Asked
Questions
Earn more from
the liquidity you have.
Migrate your Uniswap position and earn 20%+ more fees — permissionless, non-custodial, live on Ethereum.