The OpenDelta
Perpetual Bond
OpenDelta’s perpetual bond is an on-chain asset with downside protection and continuously accruing yield. Buy once. Get paid forever.
Designed for Stable Value Accrual
OpenDelta's perpetual bond (OPB) is created by hedging Bitcoin collateral across a variety of global derivatives exchanges in a trust-minimized way. This process creates a position that’s stable in dollar terms, protects the holder against downside risk, and earns continuous yield from the derivatives market funding rate.Access stable savings and yield. No fiat required.
OPB holders automatically earn yield based on the funding rate in derivatives markets, distributed and compounded automatically. Allow your money to work for you.
OPB is backed by Bitcoin that’s been hedged in a delta-neutral position. The underlying position is stable in dollar terms, and your principal is protected from downside price risk.
OPB is created using Bitcoin as collateral in derivatives positions. This allows us to tap into the most widely-adopted and liquid derivatives markets in crypto with the highest and most sustainable yield.
Powered By Solana
OPB is available on Solana, powered by the SPL token standard and the interest-bearing native token extension. This means yield is distributed automatically and continuously without requiring users to stake or lock their tokens.Hold OPB in any Solana wallet, utilize it in your favorite Solana applications, and move it around on the fastest and most efficient rails in crypto.
How It Works
OPB utilizes Bitcoin as collateral and hedges positions across a variety of global derivatives exchanges. Access dollar-denominated savings and yield. No fiat required.
Users can mint OPB by depositing collateral directly to one of our custody providers. OpenDelta accepts various forms of collateral, which are then converted into BTC to initiate the trade. We strictly operate with best-in-class, institutional-grade custodians and utilize off-exchange settlement for ultimate security.
OpenDelta takes the BTC collateral and hedges it with a delta-neutral position across a number of different exchanges. These positions earn yield via the funding rate in derivatives markets.
Once the BTC has been hedged, OpenDelta tokenizes the position and mints OPB to the depositor.
Once the user holds OPB, the token continuously accrues value via the built-in yield generation mechanism. No staking required. OPB can be bought, sold, transacted with, and used in various DeFi applications.
Users can redeem their OPB directly through OpenDelta and receive collateral in return.
Earn Perpetual Yield With OPB
OPB holders automatically earn yield, paid out every second.Our Architecture
OpenDelta utilizes off-exchange settlement, meaning funds are held in an institutional-grade MPC wallet that doesn't directly touch the exchange. This allows us to access the most liquid markets with minimized counterparty risk.
Collaborate with OpenDelta
We're always on the lookout for compelling partnership opportunities. Contact us to get started!
Developers
If you're interested in utilizing OPB or integrating it into your application, we’d love to hear from you!
Partners
If you'd like to mint OPB or partner with us as a liquidity provider, please get in touch!