Kevin asked the question directly: “Why would a crypto entrepreneur care more about building options than perps?” Nick's answer wasn't simply that options are another way to trade. The bigger argument is that options can unlock an entirely different layer of financial products. “I think the TAM of options... is actually going to be as big if not bigger than perps in the next 5 to 10 years.” The reason is that options let you create much more precise and programmable positions. You can express a specific view on where Bitcoin or Ethereum might be weeks from now, hedge an existing position, generate yield, create structured products, or build completely different financial strategies around an underlying asset. And that's where the conversation gets interesting. The craziest part is that options may actually have stronger network effects than perpetuals. Liquidity is harder to build because options can have positions open for months, sometimes much longer. Once a platform becomes the place where that liquidity lives, traders have a much stronger reason to stay. Traditional finance already has trillions of dollars flowing through structured products, yield-generating strategies and hedging instruments that are often expensive and difficult for ordinary people to access. The thesis is that putting these products on-chain could make them more accessible, programmable and available to a much wider market. So the bet isn't simply: Options vs. Perpetuals. It's: What happens when options become the building blocks for an entirely new financial system? If that happens, it might be “As big, if not bigger than perps in the next 5 to 10 years.”show more

Ft: @KevinWSHPod × @nickforster

Kevin opened the conversation very well

I love his interviews man

Interesting perspective on options trading

Options could unlock much more than just another trading market

I need to see the full thing

The angle here feels distinctive

options unlocking a whole new layer of financial products

options are just perps with a date attached

Options unlock new financial products and could build a stronger network effect.

rare to see this level of clarity lately

Well said bro

If options really become bigger than perps, what do you think will drive that shift most?

that's where the conversation gets interesting.

That's a fascinating perspective on the future of financial products

That's a wild thought about options being the building blocks for new financial system

The bigger thesis isn’t options vs. perps—it’s options as building blocks for a new financial system. Programmability, hedging, yield and structured products could unlock a much larger market. 👀🔥

Perps I good yeah, but having Options is far better Thanks for this man

I think this is the question every one needs to be asked atp

Options feel closer to programmable risk than perps.

Thanks for sharing

options staying open for months explains why their liquidity can become so sticky positions build gravity

Options could become much bigger than trading, they might unlock entirely new financial products.

This is so intriguing

Enjoyed the podcast

options are the future of finance, mark my words

options are just way more flexible than perps

because perps are binary direction, options code risk.

Options offer more sophisticated financial product possibilities than perps.

Liquidity is the biggest hurdle here

Your point about options unlocking new financial products is fascinating.

Okay this just about right

options as programmable building blocks beat perps long term.

This is definitely worth following

Options really do open up new possibilities in trading. Exciting to see where this goes!