Moby, the Next On-chain Options Protocol, Receives Grant from Arbitrum Foundation
Summary
- 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. Mobys 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. 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. 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.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.