we have been selling options through RFQ for a while ($100M+ volume), so a few notes on this @domdosu's right on the core problem. a perp is one market. a btc options board is roughly 1000 (expiries x strikes x calls and puts). onchain orderbooks spread liquidity across all of them and it gets thin fast RFQ beats orderbooks for this. market makers avoid anonymous books because they get picked off. route orders through a retail broker and they don't need to know who you are, just that it's retail. that's why they pay robinhood for its options flow dealers already quote the long tail too. the ones we work with quote barrier options on the top 500 coins. that liquidity exists today, it just sits in telegram chats most traders can't access one pushback on the headline: crypto options did take off, just not onchain. @DeribitOfficial , the biggest crypto options exchange, did $1.8T+ in volume in 2025, and coinbase paid ~$4.3B for it every option retail buys, someone has to write. we sell options on NEAR and SOL. the final product is onchain app.rhea.finance/sauce/6774, the options get sold offchain to dealers through RFQ the 2021 options vaults tried this. friktion shut down, @ribbonfinance turned into @aevoxyz . they sold once a week into a single auction, and the APY on the front page was one week's premium times 52. when prices ran through the strikes, the payouts ate the premium a scheduled weekly sale is still good flow for a dealer. they know the size and timing in advance, and it isn't someone trading on information, so they don't need to charge extra for getting picked off. that flow should go to several desks bidding against each other, not a single auction right now those flows mostly don't meet. yield products sell to dealers offchain, and retail buys from thin onchain books. put both through the same RFQ and the dealer in the middle can match them instead of hedging each side separately

Excited to announce our AMA with @hackenclub 🗓️ - 24th September ⏰ - 2pm CET Mixing Security with AI Agents: How to Keep Your Investments Safe When Robots Run the Show 🍹🤖 Set a reminder - xitter.cf/i/spaces/1lPJqvjwjAnxb Be there, don't be told.

It’s AMA day!🎙️ Join us + @superteamDE today by 2:30pm CET — We’ll be learning more about what they do at Superteam Germany 🇩🇪, and also share exciting updates Bring your questions. We’ll bring the alpha. 🚀

🧵: It’s still early days for bringing traditional finance on-chain. But the foundations are being laid and it’s going to be a revolution. Here’s why Margarita Finance is paying close attention 🧠🧘‍♀️