The Kyan Mainnet is open. The waitlist is gone. Any wallet, just sign in and start trading. Options, perps, portfolio margin, 6-leg combos, zero trading fees. Referrals are live, and Krystal rewards are accruing on all your activity app.kyan.blue

Every position on Kyan is marked against a @chainlink index. That feed is pulled the moment you trade and verified cryptographically before it ever hits our risk engine, at the price Chainlink's nodes signed off a fraction of a second earlier. Read more blog.kyan.blue/p/why-the-mar…

The Alpha is free on Mondays 🔵 The Kyan x @Sellingvol Monday Alpha 71 is out! We Sold the Panic TL;DR: Three regime flips across three Monday Alphas: vol was too cheap at 30 in #69, too rich at 50 in #70, and back to roughly. Read it on the Kyan blog blog.kyan.blue/p/monday-alph…

Kyan lets the perp leg ride inside the same atomic combo as the options, one Fill-or-Kill order. Example: A delta hedged straddle opens neutral by construction without chasing a second fill or a half-filled naked leg.

BTC options chain on Kyan for the June 26 expiry, 10 days out, with spot just under $65,751. The ATM straddle (65K call mark $1,837 + 65K put mark $1,054) prices around $2,891, which is roughly the move the market is paying to be exposed to through expiry.

The 25-delta BTC put in MA #69 worked because direction, vol, and convexity were one trade in the last regime, stacked onto a single cheap line because the down move and the vol spike printed together when compression broke. Crypto sold off 18%, and the trade hit 6.4x.

The 25-delta BTC put flagged in MA #69 has gone 6.4x as 1W ATM vol blew out from 30% to 50%+ over two weeks. Monday Alpha #70 covers the four catalysts that converged and what to roll into now. Here's a summary:

Linn's Leverage #1039 is out: (Link in tweet below) @boros_fi @pendle_fi @maplefinance @Theo_Network @KyanExchange @Mantle_Official Like/Repost to support:

Thank you to @ZoomerOracle and the @epochbiz team for putting this together 💙 The report breaks down how Kyan handles portfolio margin, multi-leg execution with perp hedges, and the cost structure.

A perp long that got liquidated last week lost 100% of its margin. Not because the thesis was wrong, but because the wick touched the liq price. Now price the mirror: BTC sits at $63.7K. A 30-day $60K/$55K put spread costs about $1,000 to put on. That $1,000 is your max loss. If BTC closes at $55K or below, it pays $5K, so you net roughly $4K. The same wick that zeroed the long was a clean, pre-sized payoff for whoever owned the downside.

The Alpha is free on Mondays 🔵 The Kyan x @Sellingvol Monday Alpha 70 is out! Told You Vol Was Cheap TL;DR: The vol was mispriced, the hedge was cheap, and now the regime has flipped. Read it on the Kyan blog blog.kyan.blue/p/monday-alph…

Marty's closing line in Monday Alpha #69 two weeks ago: "Vol is meant to be sold, until it is not. We are entering weird territory that could introduce a vol spike and knock out all these sellers." BTC was still at $77K, and vol surface had just compressed 21 vols in 3 months.

Being directionally right on BTC and losing money on a naked call is what pushes most traders into spreads, where you pay less premium for capped upside. What strikes would you pick for a spread with spot near 61k? Full walkthrough on the Kyan blog: blog.kyan.blue/p/call-spread…

On-chain perps moved $X trillion last year Options are trading about 1% of that, which most of the timeline takes as evidence that options are a small cousin to perps. The same ratio used to describe perps versus spot back in 2017, and that framing didn't age well.

May was the month the Kyan waitlist closed for good and the rewards system came online, with Krystals accruing on every trade. The full wrap-up has the rest of what shipped this month and the numbers behind it: blog.kyan.blue/p/kyan-monthl…