Head of Growth @derivexyz
New York City
Joined April 2021
- Tweets886
- Following1.4K
- Followers2.3K
- Likes11.7K
Pinned Tweet
HYPE calls are extremely cheap rn on @DeriveXYZ, any strike any expiry
NFA
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Dillon retweeted
Why we chose Risk Universes for Derive V3.
V3 segments risk into universes: Prime (BTC/ETH), Midcap (HYPE), Altcoin and RWA.
Inside each universe, accounts are fully cross-margined. In Midcap, for example, your ETH can be used as collateral to trade HYPE options.
Across universes, risk stays in its own lane.
Because risk is separated, V3 offers better haircuts and margin, and room to list more assets like RWAs and tail alts.
The result: what we believe is the most capital-efficient options risk engine, onchain or off.
Dillon retweeted
A new governance proposal to pursue Derive's expansion into US-regulated derivatives markets is live on the Derive forum.
Community members are encouraged to review the proposal and join the discussion: forums.derive.xyz/t/dip-expa…
Dillon retweeted
A closer look at our thinking behind V3.
Our CTO @josh_pwrk sat down with @Nomaticcap to talk through how we got here, why we chose Ethereum and ZK, and where we think onchain finance is headed.
We've spent five years building onchain options and learning from the traders who use them. Josh shares the lessons behind V3 and why we want to make it easier for others to build alongside us.
Watch the full conversation below.
Dillon retweeted
Welcoming Alex van Voorhees @APvanvoorhees as Derive's new Chief Legal and Compliance Officer.
20+ years in capital markets & derivatives law, most recently Head of Derivatives Legal & Interim CCO at FalconX, plus GC at Genesis Global Trading.
Welcome, Alex 🤝
Dillon retweeted
This moment feels like an origin story for @DeriveXYZ
5 years of persistence. Infrastructure that scales well beyond the walls of crypto. Shipping repeatedly, consistently…and then finally: traction 🧵
Dillon retweeted
The "deep OTM $SOL calls" I put on 2 months ago when $SOL was sub $70.
Perps are amazing in ranging regimes, but options are the GOAT for betting on big cycle bottoms/tops. These types of trades can't really be replicated with perps.
Use both 🤷♂️
If you can't flip bullish on the coins you spent months dunking on when fundamentals improve, you won't be able to flip bearish on the coins that made you paper rich when fundamentals deteriorate.
I literally closed my $SOL puts and bought deep OTM calls in the same hour.
My first popular posts were saying how poorly $LIT would do post TGE now it's a top 5 position.
Gotta stay nimble.
Dillon retweeted
$390M+ notional volume today.
Largest trading day in Derive's history, and V3 is still to come.
Dillon retweeted
Congrats to @reisnertobias, who watched his HYPE calls climb from 73% to 400%+ in two days.
Reminder: options are convex, so the payoff accelerates as the market moves your way.
Dillon retweeted
Convex payoffs happen when a small premium turns into outsized upside once the market starts moving.
Encouraging to see so many users on Derive take advantage of that yesterday!
Dillon retweeted
Two massive BTC structures just crossed Derive RFQ: ~$67M notional combined.
• $47.7M Sep 25 call spread: +375x $70K / -375x $75K calls
• $19.1M Oct 30 put ratio spread: +100x $55K / -200x $50K puts
The call spread pays for upside toward $75K. The put structure targets a controlled move lower toward $50K while selling the deeper downside tail.
RFQs Tape: t.me/DeriveRFQ
Trade Tape: t.me/derivetradetape
Dillon retweeted
Announcing our integration with @DeriveXYZ, an onchain derivatives exchange built for professional traders and institutions.
Markets have long been built around the separation of custody and trading, that principle matters just as much for digital assets.
BitGo clients can now trade Derive's electronic options and perpetuals while collateral remains held within BitGo Bank & Trust N.A. regulated custody.
The result? Assets stay segregated, counterparty exposure stays low, and capital works harder.
Read more: bitgo.com/resources/blog/bit…
Dillon retweeted
We've partnered with @BitGo to expand institutional access to onchain options.
Our Off-Exchange Custody product allows institutions to trade on Derive while keeping their assets with a regulated custodian, bringing onchain markets closer to the security and operational standards required for larger pools of capital.
Announcing our integration with @DeriveXYZ, an onchain derivatives exchange built for professional traders and institutions.
Markets have long been built around the separation of custody and trading, that principle matters just as much for digital assets.
BitGo clients can now trade Derive's electronic options and perpetuals while collateral remains held within BitGo Bank & Trust N.A. regulated custody.
The result? Assets stay segregated, counterparty exposure stays low, and capital works harder.
Read more: bitgo.com/resources/blog/bit…
Dillon retweeted
Today, Derive crossed $30 billion in all-time notional volume.
Thank you to everyone who gave us a look, tried the product, shared feedback and joined us along this odyssey.
For five years, the same core team has kept pushing. Our knowledge has compounded, and we've become the market leader for onchain options.
What's coming next is dedicated to everyone who helped us get here.
Dillon retweeted
Largest trade in Derive history just printed...again!
$210M+ or 3,552 BTC across four legs:
• Bought 888 BTC July 2 55k puts
• Sold 888 BTC July 2 56k puts
• Sold 888 BTC July 2 58k puts
• Bought 888 BTC July 2 59k puts
Dillon retweeted
$ZEC options and perps are now live on Derive.
This is the first onchain options market for Zcash.
Privacy is crypto’s oldest narrative. It only makes sense that the market around it settles onchain, where positions, pricing, and settlement can be verified transparently.
