$BITW
Cooling DownSnapshot Window: 2026-07-11 12:50 UTC · ← Back to Crypto Overview
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Tony, Founder of Epicentral Markets, explains why he chose a fully onchain model over Derive's quote driven approach "Everything's onchain, every single thing. The payouts, the calculation, the validation. None of it is quoted off chain. Why do I care? For the regulatory piece, [Spoken audio]: the the options pool model that you have in relation or or or compared to derives quote model I guess you could call it or I don't know what the technical term is the quote driven model yeah yeah quote driven model um this is similar to you know perps models where they differentiated where you're trading against sort of an index I'm blanking on the name I I apologize if anyone can remember on ETH, it was an early purpose, it was popular three years ago. But anyway, eventually there was like, yeah, yeah, yeah, yeah, people were front running it. G, something with GMX. Yeah, GMX. Yeah, GMX. Yeah, GMX. Yeah, this kind of reminds me of that in some sense, because here the options pools essentially like a black hole of liquidity and then you're using ultimately it is sort of trading against that pool, right? Am I understanding that correctly? For the most part, yeah. Yeah. Can you just briefly touch on why you chose this architecture and why that's better than Deriv's model? Yeah. Because everything's on chain. Every single thing is on chain. None of it is quoted off-chain and everything lives on chain. The payouts, the calculation, the validation, the execution. Why do you care? Well, I think for both regulatory pieces, it's non-custodial. It's a very big thing. I think this is one of the biggest hurdles for a lot of protocols these days, especially if you're in the U.S., is regulatory clarity. Right now there's a bit more leniency, but for the most part, if we can make this as non-custodial as possible. Well, one, it's programmatic, so anybody can build on top of it and scale it that way. And the other way is that it helps legally. And there's also ways to introduce privacy to it. I think when you go to quote based off-chain priced market maker defined prices for options and implied volatility it kind of like that part I feel has a lot of risk especially if you don't know who's doing it right if it's a regulated exchange like dairy bit then I would understand that but we're not doing that and and on top of this is is this creates a layer of liquidity that you don't have to compete for with other buyers and sellers you you can come in and you can come out, which simplifies the model significantly.
