A look at Opyn’s Squeeth Perpetual

Quick take

• Squeeth (a derivative developed by Opyn) is a power perpetual indexed to the price of ETH raised to the second power. 
• Power perpetuals are an iteration on the idea of everlasting options, which attempt to consolidate options market liquidity similar to perpetual futures.
• Composable perpetual options-like exposure has the potential to be a useful lego in the DeFi stack, specifically structured derivatives products, while also supporting the development of novel volatility-based on-chain derivatives.