SNX,INJ,LINA,HEGIC,BOND,MATTER,PERP行情走势图

Hegic 

(https://www.hegic.co/)

hegic是我最早了解的Defi上的期权项目。它允许用户在上面购买BTC以及ETH的call以及put option，不过这个option的strike price只可以选择当前价格附近的价格。

Hegic is the first Defi options project I know about. It allows users to buy BTC and ETH Call and put option, but this option only selects prices near the current price.

一开始我很奇怪，它允许用户买option，那卖option的对手盘是怎么形成的呢？

At first, I was wondering, it allowed users to buy an option. How did the counter-plate for selling an option be formed?

后来我发现这个合约里还有一个抵押池。用户可以把自己的ETH或者BTC抵押在合约里面，然后hegic会自动帮你用这些抵押池里的资金帮你卖出option。所以如果卖option亏钱了，这个亏钱的部分是抵押池里的资金共同承担的。比如前几周市场波动比较大的时候，抵押池最多的时候亏损了10%。

And then I found a mortgage pool in the contract. Users can mortgage their ETH or BTC in the contract, and then hegic will automatically help you sell your options with the money in the mortgage pool. So if you sell the money, this loss is borne by the money in the mortgage pool. For example, when the market was more volatile in the last few weeks, the mortgage pool lost 10 per cent at the most.

不过我觉得长期来说参与这个抵押池还是划算的。我看了一下在Hegic上面call option的价格，拿它和Deribit （现在全世界最大的BTC，ETH的中心化期权交易平台）上面的价格做了一个比较。平均来说似乎Hegic上面的option价格要比Deribit上面贵30-50%。假设Deribit这个市场是有效的，买卖双方赚的钱是差不多多的话，持续以高价来卖option，肯定会赚的概率更大一点。

But I think it's a good thing to be involved in this mortgage pool in the long run. I look at the price of the wall option on Hegic, and I compare it to the price on Deribit (now the world's largest BTC, ETH centralized option trading platform). On average, it seems like Hegic's price is 30-50% higher than that on Deribit. Assuming Deribit's market is effective, buyers and sellers make almost as much money as they do, selling it at a much higher price is sure to earn a little more.

除此以外，目前参与抵押池还可以获得额外的Hegic代币奖励，年化大约有200-300%。最近Hegic代币的价格也涨得不错，所以我觉得是一个用BTC，ETH获得额外收益的好去处。当然要记得，参与的过程也是卖出option的过程，所以要清楚参与的风险。

In addition to this, participation in the mortgage pool is currently rewarded by an additional Hegic token, which is about 200 to 300% annual. The price of Hegic's tokens has recently risen well, so I think it is a good place to make extra gains with BTC, ETH. And remember, of course, the process of participation is also the process of selling an option, so be aware of the risks of participation.

Opyn 

(https://v2.opyn.co/#/trade) 

(https://v1.opyn.co/#/sell)

Opyn是另外一个可以购买ETH和BTC call和put option的地方。它相比起Hegic来说在strike price上会有更多的选择。不过它上面option的价格似乎要比hegic的更加贵一点点。

Opyn is another place where you can buy ETH and BTC calls and put options. It has more options than Hegic would have had on strike price. But the price of it seems to be a little more expensive than hegic.

Opyn有两个版本，v1不仅可以买option，也可以卖出option赚取权利金。v2里卖出option我找了一圈没有找到，不知道是怎么实现的。

Opyn has two versions, v1 not only buys ideas, but also sells them to earn rights.

Perpetual Protocol

Perp这个项目是我最早关注的区块链上的期货项目，从它最早在测试网上launch的时候就开始关注了。它的代币一直可以和USDC结对，在balancer上提供流动性以后挖矿，年化一直在100%以上，所以我稍微参与了一些。最近这个币翻了3倍，我就把本金抽出来了。

The Perp project, which was my first focus on futures in the block chain, began to focus on it from the time it first tested launch on the Internet. Its tokens were able to match up with the USDC, and after providing mobility on the balancer, they dug up the mine, and it was over 100% a year, so I was a little bit involved. And recently, it doubled, and I pulled out the principal.

所谓的期货，就是我们通常说的那种合约。币圈经常有人倾家荡产，大部分玩的就是高倍合约这个东西。Perp上最高可以开10倍的合约，然后目前支持的币种除了BTC和ETH，就是YFI和DOT。然后上面充值用的是USDC。我觉得它做的界面很好看，和bitmex很像，所以蛮看好的。

The so-called futures are the kind of contracts that we usually say. The currency circles are often emptied, and most of them are high-level contracts. The top ten-fold contracts on Perp, and the ones currently supported besides BTC and ETH, are YFI and DOT. And the values on it are USDC. I think it's a good interface, like bitmex, so it looks good.

dydx

dydx这个项目应该算是目前最大的期货项目了。它也久负盛名，很多项目被hack的过程当中，都利用到了dydx的合约，可见dydx的有用程度（攻击的时候都要调用它）和可靠性（在历次攻击中它都没有损失，说明没有被发现漏洞）。

The dydx project is probably the largest futures project at the moment. It is also well-known, and many of the projects have been used in the hack process, using the dydx contract, to see how useful dydx is (it is called at the time of the attack) and its reliability (it has not been lost in the attacks, which means it has not been detected).

Dydx上可以开5倍的杠杆，同时可以开10倍的永续合约。在这个上面，当你的交易的资金量很低的时候，交易费用会非常高。因此一般用这个合约比较多的都是大户。一般20个ETH以上才会在这个上面开单，那基本就是2万美金起步了，门槛非常高。

There is a five-fold leverage on Dydx and a ten-fold permanent contract. Here, when you have a very low amount of money in your transactions, the transaction costs are very high. So the contract is usually used for larger households.

Synthetix Network

Synthetix Network是一个合成资产项目。为什么把它归到衍生品类呢？因为这些合成资产可以是任何资产，包括任意资产的期权，期货，甚至我们公开市场上的股票，都可以合成。

Synthetix Network is a synthetic asset project. Why is it classified as derivatives? These synthetic assets can be any asset, including options for any asset, futures, even our shares on the open market.

它的本质就是用一定的抵押物来追踪某个公开指标，然后根据这个公开指标的价格浮动来减少或者增加你的抵押物。因此在SNX上面你可以做空做多任意东西。

The essence of it is to track a public indicator with a certain collateral, and then to reduce or increase your collateral based on the price fluctuations of this public indicator. So you can do whatever you want on SNX.

不过SNX的问题一直以来就是门槛过高。而且合成资产所用的抵押物是SNX，所以如果SNX暴跌的话，可能需要追加大量的SNX作为抵押物，会对于交易人来说非常麻烦。而且SNX合成资产的时候抵押的资产要求是合成出来资产的7倍。也就是你抵押7美金的SNX，才能合成出来1美金的合成资产。这对于SNX的广泛应用造成了很大的障碍，这样的合成资产的流动性也会有很大的问题。

But the question of SNX has always been too high. And the collateral used for synthetic assets is SNX, so if SNX falls, it would be a lot of additional SNX as collateral, and it would be very difficult for traders.

不过SNX毕竟是Defi上面唯一一个可以这样做的龙头项目，而且最近他们和Curve合作，使得稳定币与非稳定币之间超低滑点的交易成为了可能，让我们看到这个项目的巨大前景。

But SNX is, after all, the only flagship project on Defi that can do this, and their recent collaboration with Curve has made it possible to make a trade between stable and non-stabilized currencies very low, and we see great prospects for this project.