Vyper Bytes #5: one month in of trading

Vyper Protocol
3 min readFeb 2, 2023


Gm Snakes 🐍

In this edition of Vyper Bytes we share some thoughts into the life of the protocol after the first of month of trading. TLDR wow, you guys love our DEX (you can find about our DEX infrastructure in this previous article).

As a quick reminder Vyper is a decentralized exchange that offers derivatives trading on various assets. Thanks to our extremely flexible infrastructure we are able to quickly list new markets, such as vanilla options, digital options, forwards and more. We have currently integrated with two of the leading oracle provider on Solana, meaning that we can support more than 200 assets, including crypto, FX, commodities, events and more.

The first month of operations we listed markets on all the major new Solana memecoin, the time required to launch each of these new markets from our side was less than 0.5hr

We listed digital option markets on $BONK, $FRONK, $DOGGO, $CHILLI among others and we were praised by our users for the simplicity of the platform. Digital option (also called cash-or-nothing) are derivatives that either pay the a fixed amount or nothing at all, in this case the user can pick the payoff to be any amount up to 10 times its initial trading amount.

UI for digital markets

We also listed forward markets on $HADES token, one of the first attempt to bootstrap a liquid future markets for altcoin. Users could post buy and one-week forward on $HADES, the token from the NFT exchange Hadeswap. The token has traded in backwardation since, and Vyper DEX satisfied two types of users: on one hand, short seller which had no way of borriwing spot and used the forward to short, on the other, long terms holder which moved their position to a synthetic long and extracted more returns from the carry.

An explanation of the carry trade with the forward

We listed NFT Floor option, and users came out with very innovative strategies. For example, here you can read about how a user used a put option to protect itself against a drop of the NFT Floor following the ‘reveal’ (eg. the moment a user gets to see the art of the NFT for the first time). After the ‘reveal’ the floor dropped more than 50% and the user managed to hold the NFT plus avoid any depreciation (the put settled ‘in the money’)

NFT Floor option trading strategy

We also run a trading competition on BONK where users could trade both BONK and BONKz markets to get to the top of the leaderboard.

Trading challenge


Crypto markets are notoriously very fast, new assets and new trades pop out constantly, new trends are created and disappears every week. Centralized exchanges can not be fast enough to follow on these trends..

but we are. Meet Vyper DEX, the everything exchange.



Vyper Protocol

A DeFi primitive allowing users to create, trade, and settle any kind of on-chain derivatives 🐍 vyperprotocol.io