Opyn is a capital efficient DeFi options protocol that allows users to buy, sell, and create options on ERC20s. DeFi users and products rely on Opyn’s smart contracts and interface to hedge themselves against DeFi risks or take positions on different cryptocurrencies.
Opyn v2 is built using Gamma Protocol, a capital efficient options protocol that allows DeFi users to trade option spreads and combos, create flash mints, auto-exercise at expiry, and create new options on any whitelisted product.
Developers can take advantage of Gamma's operator function, which allows an address to update an account's positions on behalf of the account. Operators play critical role in the protocol, enabling innovative products such as options rollover contracts, portfolio managers, auto-minting, and AMMs to be built on top of Gamma.
Opyn's smart contracts have been audited by OpenZeppelin and formally verified by Certora.