Carmine Options AMM

Automated Market Maker enabling anyone to buy and sell options at a fair price

Start trading

Taking care of risk on blockchain

Services

For Traders

Thanks to the AMM's ability to not only buy but also sell options, the possibilities of what traders can do are limitless. Build your own custom strategies, speculate on volatility or simply on price movement.

For Liquidity Providers

Because of the mechanics of our AMM the liquidity pools have high capital utilization and are built to be risk averse. Capital utilization can reach multiples of the value of the pool and is potentially unlimited.

For Hedge Funds & Investors

Hedging portfolios and investments done easy. Distant maturities and far out of money strike prices are all available with no spreads and low fees.

Road Map

Problems & Solutions

Problems

No possibility to sell options on AMMs directly
Low liquidity
High spreads on limit book exchanges

Solutions

Selling options directly will be built as a core feature
Selling and buying options will provide better price discovery and increase the usage of liquidity pool(s) to multiples of its value, in other words increase capital efficiency. Hence increasing APY and following that the liquidity.
Price for both buy and sell will be the same before fees.

Team

Marek Hauzr Founder & CEO

Previously worked as quant in a Chainkeepers s.r.o., company market making crypto tokens and running liquidation bots and in Quantlane s.r.o. as a team lead quant helped build the data science team. Has experience with company building from CreativeDock s.r.o. as senior data scientist and team/project lead.

David Vodrážka Co-founder & FE developer

Enthusiastic JavaScript developer, who loves learning new technologies, always in search for the next technical challenge. Has experience from Seznam, taking care of the DevOps and CI/CD needs, alongside JS frontend development.

Ondřej Sojka Co-founder & SC developer

Curious Python backend developer with a passion for DeFi. Dabbling in the space since 2019, I have experience with blockchain development and analysis.

Andrej Chepelau Co-founder & Quant

Financial engineer, python developer and newly SC developer, working in crypto with focus on derivatives and all things quant. Previously worked at ChainKeepers.

Katsu Community & Growth Manager

Blockchain enthusiast and DeFi believer. Has experience with building and managing comunities. Has an engineering background and has also gained experience in HR management.

CryptoWild Business Developer

Youtuber, business developer, community moderator and overall crypto enthusiast.

Career

Join Carmine Finance

We are currently not hiring but please check back in the future for any updates on job openings.

You can also follow us on Twitter and join our Discord to make sure you never miss anything.

Frequently Asked Questions

How will option selling work?

Selling will work almost the same as buying options with two differences. First user will receive premium instead of paying it. Second the user selling the option will have to lock in tokens covering the option.

How can liquidity pool increase its usage above 100% ?

Since users can both sell and buy options from/to the given pool, the AMM can match options between buyers and sellers. With a limitation that the absolute difference between bought and sold options will be lower than the liquidity in the pool to ensure coverage of all options.

How will be the effective spreads decreased ?

Buying and selling options will be based on the same market price and there will be fees charged on top of it. This sets the spread to approximately twice the size of the fees.

How will liquidity increase ?

It will be possible to use liquidity pool above 100% of its value which will increase the APY which in turn will drive in more liquidity to the pool.