The Deribit cryptocurrency derivatives exchange is preparing to present products based on the Solana (SOL) token to customers. Blockworks writes about this with reference to sources. According to them, the company has been negotiating with option market makers for several months.
Deribit confirmed that they are testing options on SOL internally, and the launch is scheduled for the end of this or the beginning of the next quarter. Also, SOL options and futures are already available on a publicly available test platform.
Until that time, the exchange served options exclusively on bitcoin and Ethereum. Luuk Strayers, Director of Commercial Relations at Deribit, said that in the past they had already been interested in adding new coins, but doubted the liquidity and support of market makers.
"Of course, we used to be interested in other coins, but their coverage is not enough - with the exception of SOL at the moment. The demand for SOL is obvious," Strayers added.
Now the exchange is setting up a Solana wallet for storing user assets. To work with Solana-based products, users will need to make deposits in SOL. The company intends to launch perpetual trading, options, futures and portfolio management services.
To date, SOL futures and options are traded on the over-the-counter market and more modest exchanges. It is expected that Deribit's offer will significantly expand the availability of such instruments, taking into account the exchange's focus on institutional investors and professional traders.
In addition, the exchange is working on supporting the USDC stablecoin, which will make it easier for it to add new coins in the future without having to create a separate wallet for each of them.