Comparative Analysis for Derivatives

1. Antimatter

There are two token types: call token and put token, which correspond to call and put perpetual options. To understand how they work, we have a price interval that contains the current price of a certain cryptocurrency and we anticipate that the price of this currency will change within this interval.

If we work with ETH and in case that the price varies within the interval, one can generate antimatter token (call and/or put) by providing two types of underlying assets, such as ETH and USDT. Typically, one needs to provide more ETH to generate a call token and more USDT to generate a put token. The cost of producing tokens will vary in order to stabilize the platform.

2. Perpetual protocol

in type B asset. In general perpetual protocol is a perpetual contract without expiration date.

3. Shield

When the balance is zero, the trader either needs to close his position or to deposit more collateral. For a single position, the risk is finite: the amount he pre-pays and the profit is calculated by gains in speculation-transaction fee-funding fee.

4. Futureswap

Typically, when the long and short sides are in balance, the fee is 0:03% of the trading amount. However, if the long side is signicantly more than the short side, one needs to pay as much as ten times trading fee. Higher fee will decrease the potential profit, thus decrease the incentive to play in this direction.

5. Hegic Options

6. Everlasting Options

For example, Consider the $3000 strike everlasting ETH put with funding paid once daily. If ETH is currently trading at $2900, the current payout of the put is $3000 { $2900 = $100. If the everlasting put is trading for $150 the instant before funding is paid, then the longs would have to pay the shorts mark { payo = $150 { $100 = $50 per day.

7. Comparison

Futureswap has similar features to Antimatter, because it has dynamic fees to protect the platform. On the other hand, the dynamic counterpart in Antimatter is the cost to produce tokens. The difference is that Antimatter has price oor and price ceiling. It preserves the feature of a straddle(options), but Futureswap does not.

Hegic Options is not a perpetual option. One can only hold it up to 90 days. Therefore, the mechanisms is much dierent to Antimatter. Everlasting Options is perpetual future for options. Since options has many strikes, Everlasting Options has many ramications. In essence, it’s futures rather than options. The big difference is that Antimatter does not rely on oracles, while the other six do. Thus, Antimatter reduces the possibility that one takes advantage of the time lag.

Antimatter is an innovative lightweight on-chain defi derivative protocol