Greek.fi

We're excited to share a first sneak peek to our app coming to @base soon! In this v1 you'll be able to write options to earn yield on your assets. In a later version, we'll offer full options trading.

Options have the reputation of being quite complicated. They don't have to be! There are some options trading strategies, that are quite simple. This is how you start trading options successfully 👇

We're incredibly excited to be part of this cohort! The Base team is really doing an incredible job at supporting all the teams participating. And we got to meet and collaborate with many other great builders. @base is truly a great place to build!

An option can look complicated because there are a lot of numbers on the screen. But the basic structure is actually pretty simple. Let us explain! For a call option, there are four things you really need to identify first: ➡️ Underlying pair ➡️ Strike price ➡️ Expiry ➡️ Premium The underlying pair tells you which assets the option is between. Pretty obvious. The strike tells you the price at which that exchange can happen. If the strike for a BTC/USDC option is $100,000, the call gives the buyer the right to buy BTC at $100,000. You can think of that part a little like a limit order, except the buyer is paying for the right to make that trade, without being forced to do it. That distinction is important. If BTC trades at $120,000, buying it for $100,000 is obviously valuable. If BTC is only worth $90,000, there is no reason to exercise the option and pay $100,000 for something you can buy cheaper on the market. So as a call buyer, you generally want the asset price to move above the strike. Then there is the expiry. This tells you how long the option exists and therefore how much time your thesis has to play out. A call expiring next week can behave very differently from the exact same $100,000 call expiring six months from now. And finally, the premium. The premium is simply the price you pay to buy the option. If the call costs $3,000, that is what the buyer pays upfront for the right to buy BTC at the strike. This also means simply getting above the strike is not necessarily enough to make money. If your strike is $100,000 and you paid a $3,000 premium, BTC at $101,000 at expiry puts the option in the money, but you still haven't earned back what you paid for it. So when you look at a call, start with four questions: What asset am I buying? At what price? Until when? And what does that right cost me? By understanding these four things, you are set up to trade options. As you gain experience and want to learn advanced options strategies, you can learn about Delta, IV and the other Greeks.

We want everyone to benefit from Options, pro traders and options newcomers alike! No understanding?➡️Vaults to lend the assets to makers and earn yield Slight understanding?➡️Sell covered calls to earn more yield Good understanding?➡️Buy & trade options Greek is for everyone!

Your staked $ETH could earn you more than just staking rewards. A liquid staking token represents $ETH that’s already earning yield. Where that token is accepted as option collateral, you can use it to sell an option and collect a premium too. Staking rewards underneath. Option premiums on top, potentially providing a much larger yield! You’re putting the same capital to work in two ways: securing Ethereum and backing an option someone else wants to buy. This way you stack two sources of yield on top of each other. Your capital earns twice. And the idea extends beyond staked ETH. Other supported yield-bearing tokens can become the foundation for option strategies too. If you enjoy yieldmaxxing, Greek will be your home!

Options offer another choice.

There is a ton of capital in crypto that just sits idle, because there are no yield opportunities for those coins. With options we can offer that juicy yield on those assets to unlock that capital and get it into DeFi! Which assets would you like to earn yield on?

How often was your thesis correct on perps, but you got stopped out before the market went in the direction you predicted? Doesn't ever happen to options traders!

Get tokenized options on all the assets you love trading on Base, brought to you by Greek. Excited to be a part of Batches to accelerate this. And great to see how stacked this cohort is. Expect many collaborations between the teams building here together. 👀

Base will be the best place to trade RWA Options and Greek will enable it. Exciting times!

In a few days it will be the first anniversary of 10/10... Crazy! Spicy take: If Options were a big thing in crypto, it might have never happened.

We're super excited to join Base Batches 004! We're providing tokenized options for any asset allowing users to earn, hedge and leverage. And we're fired up to be building this on Base.

Perps and options can both give you leveraged exposure. But they make you take very different risks to get it. Say you’re bullish on $BTC over the next six months. You could open a leveraged long perp and hold it until your thesis plays out. The problem is that the market doesn’t care about your six-month thesis on the way there. $BTC can drop 15% next week, liquidate your position, and then spend the next five months rallying exactly where you thought it would go. You were eventually right on direction, but your position didn’t survive long enough for that to matter. That’s the liquidation problem with leverage. Once your leveraged position crosses that liquidation level, there is no bouncing back. The trade is closed. A long call has a different problem. You pay the premium upfront, and that premium can lose a lot of value if BTC moves against you. But there is no liquidation price on the option itself. $BTC can dump next week and your call still exists. If you bought an option that expires six months from now, you still have those six months for the thesis to play out. As long as the option has not expired, a temporary move against you does not automatically close the position. Of course, that protection isn’t free. Options replace liquidation risk with time risk. If $BTC takes seven months to make the move and your option expires after six, being right eventually doesn’t help you either. That’s probably the cleanest way to think about the difference: - Perps: your thesis can be right eventually, but you need to survive the path - Options: you can survive the path, but your thesis needs to play out before expiry Both can express the same bullish view. The real question is which risk you want to take to express it.

We think composability is what can make onchain options a killer product. And in our opinion, it is also the piece the market has overlooked so far. Once options, collateral and settlement claims live onchain as standard assets, they can plug into the rest of DeFi instead of existing inside a closed derivatives venue. A market maker can write an option, receive a tokenized claim on the collateral, and potentially use that claim elsewhere as collateral. A vault can build strategies on top of the same options. A lending market can underwrite against the collateral layer. None of those systems need to live inside the options protocol itself. That's the part we think matters for market structure. In TradFi, the options venue, margin system, broker, custodian and structured product wrapper are tightly bundled together. Onchain, they can be separate. The options protocol can focus on creating and settling the option correctly. Lending protocols can handle financing. Vaults can handle strategy management. Aggregators can handle execution. Each layer can specialize, and builders can combine them in ways the original protocol never had to design for. That also changes how innovation happens. You don't need to rebuild an entire derivatives stack every time you want to test a new strategy or capital model. You can build one new piece and plug it into what already exists. Transparency is a nice property of onchain options. Composability is what can make them fundamentally different.