June 25, 2025
The next submit comprises a recap of reports, initiatives, and vital updates from the Spartan Council and Core Contributors from final week.
👉TLDR
Spartan Area with Panoptic:
Panoptic: DeFi-native choices buying and selling utilizing Uniswap V3 — no market makers, no expirations.Buying and selling methods give attention to payment era and capital preservation, not simply hypothesis.Strangles: Shopping for/promoting a put and a name at completely different strike costs.Straddles: Shopping for/promoting a put and a name on the identical strike worth.Danger administration is vital: Delta-neutral positions, capped losses, and regular yields.Perps vs. Choices.New options coming quickly: Backtesting device & AI-powered buying and selling assistants.Reside now: BTC/USDC buying and selling competitors.Rosalie’s recommendation: Begin small, keep curious, and use DeFi as a device for monetary empowerment.
Spartan Council and SIP updates
Final week Synthetix hosted a Spartan Area with Panoptic, a decentralized choices buying and selling protocol constructed on Uniswap V3. Burt chatted with Rosalie, who joined to speak about DeFi choices, threat administration, and the way Panoptic is rethinking derivatives buying and selling from the bottom up.
Rosalie does advertising and marketing at Panoptic and obtained her begin in crypto throughout a school blockchain course the place she purchased her first Bitcoin from a merchandising machine in Chinatown (sure, actually). After hopping by internships and blockchain jobs, she’s now knee-deep in choices buying and selling (completely in DeFi) — no TradFi expertise wanted.
She’s been actively buying and selling choices for the final 3 to 4 months and is enthusiastic about making monetary training extra accessible, particularly within the crypto house. Rosalie went on to debate what makes Panoptic completely different, primarily explaining how the platform is constructed on prime of the Uniswap liquidity mannequin and allows perpetual choices, which don’t expire and are settled each block. So there are not any centralized market makers; as an alternative, merchants borrow and purchase liquidity straight from swimming pools.
Examples of common buying and selling swimming pools at the moment obtainable on the Panoptic platform embrace:
ETH/USDCBTC/USDCBTC/ETHUNI-based swimming pools
You can too create your individual markets if you wish to commerce any particular tokens which might be on Uniswap. The platform is designed to make choices buying and selling each capital-efficient and versatile!
Rosalie then walked the viewers although a few widespread methods used on Panoptic, akin to:
Strangles: Shopping for/promoting a put and a name at completely different strike pricesStraddles: Shopping for/promoting a put and a name on the identical strike worth
These are all about accumulating charges during times of worth stability, however the actual edge in DeFi choices comes from threat administration fairly than hypothesis. Some core rules she laid out had been:
Preserving capital earlier than chasing profitsBuilding delta-neutral positions to attenuate directional riskAlways capping potential lossesAnd even when your worth prediction is fallacious, good technique nonetheless makes cash
The Spartan Area additionally went right into a little bit of a dialogue on the variations between perpetual futures and choices, primarily that perps are simpler to hedge and extra common for speculative trades, and choices are more durable to make use of however supply higher strategic flexibility and nuanced threat profiles.
All through the decision, Rosalie additionally reiterated normally some platform options value noting:
Perpetual choices: As beforehand talked about, Panoptic has perpetual choices, which don’t expire like conventional choices.Consumer interface: The platform has a enjoyable and interactive interface with a glossy UI and visible charts.Upcoming options:There’ll quickly be a backtesting device to simulate methods. And the long-term imaginative and prescient consists of AI buying and selling assistants, pure language interfaces, and extra.
Lastly, Rosalie and Burt mentioned Panoptic’s present buying and selling competitors on the BTC/USDC pool, the place there’s a factors program and a few distinctive prizes (sure, there’s a Michael Saylor pillow concerned).
All in all, for those who’re curious however cautious, Rosalie recommends beginning small and utilizing the platform’s academic instruments — be taught the mechanics earlier than diving in deep!
