• 衍生品协议，风险管理
• 当前协议的问题
  • Extreme risk in long term liquidity supply
  • Narrow product selection
  • Complex experience
• 凯利公式
  • 反向利用凯利公式，优化 LP 的风险/收益
• Key features
  • Optimized for long-term capital preservation and growth across market conditions
  • Back-testable return projections: rich risk analytics for LPs and users Participants can back-test returns for any contract under any conditions before deciding whether to commit capital.
  • Configurable risk-reward profiles: LPs are able to select what “alpha” they want to expect, and what risk profile they’re willing to accept
  • Passive experience: LPs don’t need to constantly monitor their positions. Bonding curves dynamically adjust pricing to offset risk.
  • Broad product selection: Capital can be used to underwrite many different product configurations, with many combinations of strike, duration, asset, etc.
  • Capital efficiency: Capital can be exposed to multiple risks at once, helping LPs achieve higher utilization levels, and helping buyers get access to a larger variety of products in deeper markets.