– First ever on-chain options protocol to receive Arbitrum Foundation Grant prior to full launch
– Moby set to drive next narrative for DeFi with its unique SLE (Synchronized Liquidity Engine)
SINGAPORE, Jan. 23, 2024 /PRNewswire/ — Moby, an on-chain options protocol backed by its pioneering Synchronized Liquidity Engine (SLE), rendering real-time accurate pricing; narrowest spread in the market; maximum liquidity; and Robinhood-class UI/UX, has received the Arbitrum Foundation Grant. The deal will bring Moby on Arbitrum One by H1 2024 to drive the next narrative for DeFi.
As the premier Layer2 (L2) scaling solution for Ethereum, Arbitrum leads with an impressive Total Value Locked (TVL) of approximately $10 billion, the highest across all L2 networks. The Arbitrum Foundation is dedicated to fostering the ecosystem’s growth by awarding grants to protocols that demonstrate problem-solving capabilities and bring unparalleled value to the Arbitrum Ecosystem.
Moby has been nominated as the first options protocol to receive the Arbitrum Foundation Grant prior to official launch on Arbitrum One. Moby’s recent accomplishments bolsters the potential of on-chain options leading the next drive for DeFi adoption. Over the course of 96 hours since its most recent update on Arbitrum Testnet, Moby has generated over $10 billion in options trade volume and acquired more than 2,000 traders, each incurring over 20 transactions per day on average.
Moby, built for both traders and liquidity providers, offers a favorable trading environment for options trading with its suite of radically designed features such as SLE (Synchronized Liquidity Engine) and Dynamic Risk Premium model, which altogether render real-time accurate options pricing, dynamic risk management, and abundant liquidity.
Based on its solid infrastructure and design, Moby is dedicated to bringing unprecedented value to the DeFi ecosystem with on-chain options that enables controlled risk exposure, high leverage, and no liquidation risk for traders. Moby’s OLPs (Options Liquidity Pool) will also function as a source of passive income for liquidity providers upon Moby’s full launch on Arbitrum One.
Moving forward, Moby’s mission is to establish grounds for all on-chain options and derivatives by introducing on-chain infrastructure for structured products, tokenized positions, and Real World Assets (RWA). From a business perspective, Moby is set to scale and lead the on-chain options vertical through integrating with existing DeFi services and welcoming institutional adoption.
“The on-chain options market has enormous potential, driven by robust demand from both the public and institutions.” said the CEO at Moby. “Moby aims to become the market-meta-driving protocol for on-chain options in 2024 as did GMX for on-chain perpetual futures in 2021.”
After a recent UI/UX update, Moby has launched Moby Open Beta Round2 (MOBR2) event, whereby early access users can try out Moby on Arbitrum Sepolia and provide hands-on feedback for further improvements, prior to Moby’s official launch on Arbitrum One in H1, 2024.
Led by a team with extensive experience in finance, blockchain, and data science, Moby is an on-chain options protocol to lead the next narrative for DeFi. Moby offers an optimized trading environment based on its pioneering SLE (Synchronized Liquidity Engine) and Dynamic Risk Premium model, which enables real-time accurate pricing, narrowest spread in the market, abundant liquidity, and Robinhood-class UI/UX. Moby is set to provide new features such as capital efficiency improvement models, structured products, short-term options, and tokenized options positions to welcome institutions and traditional TradFi audience.
About Arbitrum One
Arbitrum One — a leading Ethereum Layer-2 scaling solution initially developed by Offchain Labs — offers ultra-fast, low-cost transactions with security derived from Ethereum through Optimistic Rollup technology. Launched in August 2021, the Arbitrum One mainnet beta is EVM-compatible to the bytecode level and has 54%+ TVL in the L2 segment. 2000+ DeFi and NFT projects are live on the ecosystem to date.
About Arbitrum Foundation
The Arbitrum Foundation, founded in March 2023, supports and grows the Arbitrum network and its community with secure scaling solutions for Ethereum.
Originally published at https://www.prnewswire.com/news-releases/moby-the-next-on-chain-options-protocol-receives-grant-from-arbitrum-foundation-302042108.html
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