Ep. 631 Understanding The Crypto Options Market with Derive

CRYPTO 101

Bryce Paul & Brendan Viehman

Business, Investing

4.6 • 821 Ratings

🗓️ 10 December 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of the Crypto 101 podcast, hosts Bryce Paul and Brendan Vieman welcome Nick Forster, co-founder of Derive, a platform focused on options and derivatives. Nick shares his background as a Wall Street trader, the importance of understanding market participants in crypto options, and the allure of building in the crypto space. He discusses the innovative features of Derive, including its decentralized nature and the challenges of bootstrapping liquidity. The conversation highlights a recent successful on-chain options trade, showcasing the potential of DeFi. In this conversation, Nick discusses the future of blockchain technology, the importance of regulatory clarity, and the potential for a post-election bull run in the crypto market. He emphasizes the role of the DRV token in governance and the integration of traditional assets into the crypto space. The discussion also covers options trading strategies, the significance of meme coins, and their impact on the market dynamics.

0:00 Intro

01:10 Nick’s Background in Trading

06:16 Understanding Market Participants in Crypto Options

09:28 The Allure of Crypto Over Traditional Finance

12:25 Building Derive: The Infinite Payoff Factory

15:52 Decentralization vs Centralization in Derive

18:00 Bootstrapping Liquidity in the Options Market

19:50 A Major On-Chain Options Trade Success

23:07 The Future of Blockchain and Regulatory Clarity

25:27 Navigating the U.S. Market and Derivatives

28:41 The Role of the DRV Token in Governance

30:18 Integrating Traditional Assets into Crypto

33:16 Options Strategies Simplified

38:31 Understanding Meme Coins and Their Impact

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Transcript

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0:00.0	All right, everybody, welcome back to another episode of the Crypto 101 podcast.
0:14.3	I'm your co-host, Bryce.
0:15.7	As always, joined by my good buddy and Options and Futures Degenerate, Brendan Veman. That's a new title that
0:25.2	you're dawning today, but it's appropriate for our guest. But how are you doing, man?
0:29.3	Dude, it is appropriate. And I willingly accept it because it's all true. It's all true.
0:34.7	Everything they say and more, it's true about you. But no, dude, I'm excited. I know we were just catching up before the show, how excited you were. We've got Nick Forster, who is the co-founder of an awesome platform, all about options and derivatives. It's called aptly. It's called Derive. And so we have Nick Forrester, who's the co-founder
0:55.9	joining us. Nick, how are you doing today? Doing great. Thanks, Bryce. And thanks for having me on.
1:01.4	You bet. So let's just zoom out on your career here before we dive into the markets,
1:08.3	dive into what you're building. You're a former Wall Street guy. Tell us a
1:12.5	little bit about what kind of work you were involved in prior to building derive.
1:18.7	Yeah, so I was a, that's right. I was a trader on Wall Street, so an equity options trader,
1:24.3	one of the large, I think the largest firm by options volume for like
1:28.4	stock options. So I was trading like financial and technology stocks over on the on the east
1:34.1	coast of the US for a few years. And that was like kind of a crazy time when I was there. It was
1:40.1	during the if people are familiar with GameStop and the kind of Wall Street Beds mania
1:45.6	I was kind of front and center how to see to that was checking Reddit a lot of the time
1:50.8	when I was trading I had a few Melbourne capital stocks that I was trading options on
1:55.1	and so it was a really crazy time so I learned a lot about how options work, like how to make decisions
2:02.3	under uncertainty. The firm I worked at taught us how to play poker is like part of the training
2:07.4	and things like that. So a lot of like decision making probability and really figuring out
2:12.7	the right tools to make the right, you know, the sort of right bets in the markets.
2:18.6	That's pretty interesting.
	...

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