Stryke is on Base: Trade $DEGEN and $BRETT

Stryke is on Base: Trade $DEGEN and $BRETT

Date
June 18, 2024
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JOIN THE MEME COIN MADNESS

Stryke is now live on Base, and you’re about to be the first to trade $DEGEN and $BRETT options. Stryke is embracing the current meta with meme coin options across multiple chains. Let’s explore what this update means.

WHY THIS MATTERS

Options trading is a powerful tool, especially for assets like meme coins. With the introduction of $DEGEN and $BRETT options on Base, traders can hedge their positions and take advantage of volatile price action. Stryke’s CLAMM offers traders liquidation-free leverage, which is ideal for meme coin trading where sudden price spikes can quickly liquidate positions.

QUICK INTRODUCTION TO THE COINS LISTED

$DEGEN: Launched in January 2024, $DEGEN reshapes the Farcaster ecosystem by rewarding quality content with DEGEN tokens, linking online contributions to real-world value.

Pair
DEGEN/WETH (Uniswap V3)
Market Cap
$220,461,417
FDV
$652,924,154
Trading Volume (24H)
$23,284,487
TVL
$7.2 Million
Contract Address
0x4ed4e862860bed51a9570b96d89af5e1b0efefed

$BRETT: Inspired by Matt Furie’s Boys' Club comic, Brett is a mascot on the BASE blockchain, symbolising its vibrant community.

Pair
BRETT/WETH (Uniswap V3)
Market Cap
$1,697,841,733
FDV
$1,697,841,735
Trading Volume (24H)
$147,321,910
TVL
$10.5 Million
Contract Address
0x532f27101965dd16442e59d40670faf5ebb142e4

WHAT DOES THIS MEAN FOR STRYKE USERS?

Launching on Base with DEGEN/WETH and BRETT/WETH pairs opens up new trading strategies and diversification opportunities for traders. Through CLAMM, Stryke users gain several advantages compared to the average meme coin trader. These include:

  1. Traders Can Hedge & Leverage for Maximum Returns

    2. With CLAMM options, you can hedge your spot holdings against falling prices by buying puts (going short). If you believe the price will go up, you can buy calls to get up to 100x and more in leverage (going long)! This flexibility helps you manage risk and capitalise on market movements in highly volatile markets.

  2. Traders Have No Liquidation Worries

    3. For volatile assets like meme coins, CLAMM options are ideal. They prevent liquidation from sudden price spikes, letting you stay in the market longer and capitalise on moves in both directions through puts and calls.

  3. LPs Get Significantly More Returns

    4. Stryke’s CLAMM offers Liquidity Providers the chance to earn 50% - 80% LP APR, here’s how:

    1/ Higher Returns through premium & swap fees.

    2/ Similar risk profile as deploying on Uniswap V3.

    3/ Concentrated liquidity within specific price ticks

⚡
Curious About CLAMM? Head to our Learn page for a quick intro, and dive into this walkthrough for a in-depth explanation on Stryke’s CLAMM (Concentrated Liquidity Automated Market Maker).

START TRADING NOW!

With our launch on Base, Stryke is now the first options protocol to list $DEGEN and $BRETT, following our recent $BOOP listing on Arbitrum. Learn more about the $BOOP listing, here.

Just like $BOOP, both $DEGEN and $BRETT will use market cap instead of price for charting, making it simpler to track market trends. The market cap is shown in USD and adjusts based on ETH/USD price changes.

We're excited to be part of the growing meme coin trend and to offer new trading opportunities for our users. Stay tuned for more updates as we continue to transform the on-chain options market.

Click here to trade $DEGEN and $BRETT now!

About Stryke

Stryke is a decentralized options protocol that focuses on maximizing liquidity and enhancing gains for option buyers while minimizing losses for option writers—all in a passive approach.

Stryke employs option pools that enable anyone to effortlessly earn yield. The protocol provides value to both option sellers and buyers by ensuring equitable and optimized prices for options at various strike prices and expiries, achieved through our proprietary, cutting-edge option pricing model designed to mirror volatility smiles.

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