Ask about OpenDelta Perpetual Bond
Logo of OpenDelta Perpetual BondOpenDelta Perpetual Bond(OPB)
Total Value Locked$12.3

TVL by Chain

Solana$12.3

Key Metrics

Total Raised$2.5m

Apr 26, 2024$2.5mRound: Pre-SeedInvestors: 6th Man Ventures

Nov 27, 2024Round: Pre-seed+Investors: Anatoly Yakovenko, Anagram, Stepan Simkin, Bartosz Lipinski, Shane Molidor

Protocol Information

OpenDelta's perpetual bond (OPB) is created by hedging Bitcoin collateral across a variety of global derivatives exchanges in a trust-minimized way. This process creates a position that’s stable in dollar terms, protects the holder against downside risk, and earns continuous yield from the derivatives market funding rate.

Category:Basis Trading

WebsiteTwitter

Methodology

TVL: TVL is calculated by multiplying the OPB token supply by the current USD value of 1.0 OPB. Initially worth $1.0, 1.0 OPB now reflects its increased value from accrued interest, derived using amountToUiAmount approach of Solana Token2022 Interest Bearing extension.View code on GitHub

Competitors

Solstice ($523.01m)BounceBit CeDeFi Yield ($231.91m)Solv Basis Trading ($156.99m)Bitwise USCC ($72.18m)Unitas ($53.77m)JupUSD ($53.22m)Solomon USDv ($1.51m)

Frequently Asked Questions

What is OpenDelta Perpetual Bond?

OpenDelta's perpetual bond (OPB) is created by hedging Bitcoin collateral across a variety of global derivatives exchanges in a trust-minimized way. This process creates a position that’s stable in dollar terms, protects the holder against downside risk, and earns continuous yield from the derivatives market funding rate.

What is OpenDelta Perpetual Bond's TVL?

OpenDelta Perpetual Bond currently has $12.3 in total value locked. TVL has increased 2.5% over the past 30 days.

What chains does OpenDelta Perpetual Bond operate on?

OpenDelta Perpetual Bond operates on Solana. Solana holds the largest share at 100%.

How does OpenDelta Perpetual Bond's TVL compare to similar protocols?

Among Basis Trading protocols tracked by DefiLlama, OpenDelta Perpetual Bond ranks #35 by TVL. The category holds $7.075b across 35 protocols, and OpenDelta Perpetual Bond accounts for <0.1% of that total. Other leading protocols include Ethena, Falcon Finance, and Solstice.