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Betting Aagainst Compound? This DeFi App Just Made it Possible With COMP Options


Betting Aagainst Compound? This DeFi App Just Made it Possible With COMP Ooptions

Compound’s (COMP) meteoric rise is equal parts FOMO and illiquid price pushing, with industry observers drawing parallels with the infamous ICO boom of 2017. The lending-centric token even made it to Coinbase this week, with the latter notorious for taking a methodical, legal-first approach to projects. Thus far, there were limited avenues to bet against COMP price, with only FTX and UMA providing relevant products. However, on Friday, DeFi exchange Opyn said it was listing put options for COMP, providing bears with an avenue to short the token.

Bet against COMP

Styled as a DeFi risk management tool instead of a vanilla exchange, Opyn exclusively provides put options on popular DeFi tokens. The firm even raised $2 million earlier this week to expand its tech stack and product suite. The first put option is currently live and provides an expiry price of $150 or lower per COMP on June 3. The latter currently trades at $259 as per data on CoinGecko. Read More...


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