Protocol Coverage %
Squeeth by Opyn $10,000,000 25%
Euler $10,000,000 25%
Primitive $10,000,000 25%
Nifty Options by Teller $10,000,000 25%
Total Covered $40,000,000 100%

Squeeth by Opyn

Squeeth (squared ETH) is a Power Perpetual that tracks the price of ETH². This functions similar to a perpetual swap where you are targeting ETH² rather than ETH. Long Squeeth gives traders a leveraged position with unlimited ETH² upside, protected downside, and no liquidations. Squeeth buyers pay a funding rate for this position. In contrast, short Squeeth is a short ETH² position, collateralized with ETH. Traders earn a funding rate for taking on this position, paid by long Squeeth holders.


Euler is a non-custodial protocol on Ethereum that allows users to lend and borrow almost any crypto asset.


Primitive is a new kind of AMM that can be used for hedging liquidity positions on other AMMs, like Uniswap, as well as to generate returns from volatility on long-tail assets.

Nifty Options by Teller

Nifty Options is the first on-chain NFT options trading protocol whose contract allows the right to sell a specific NFT at an agreed upon price and expiration date in the future. Hedge NFTs. Borrow against NFTs. Sell NFT options.