Smilee v1.69 (current)

• Buy & sell IG options when you want

• Get ~2x existing leverage with directional Impermanent Gain thanks to Concentrated Liquidity

• Brand new UI/UX

• ~10x more yield, way more size thanks to Concentrated Liquidity

The flexibility & efficiency of the synthetic engine makes it possible to deliver a trading experience akin to a centralized exchange.

Smilee AMM

Buy & sell Impermanent Gain options at any time with market-driven pricing based on the Black & Scholes model—you're no longer forced to hold (pray) till expiry

Directional Impermanent Gain

😈 Bull

🐻 Bear

😃 Smile

More capital efficiency. More leverage. More Impermanent Gain. Make a directional bet on the underlying token or go neutral. Choosing a direction ~halves the cost and ~doubles your leverage!

Brand New UX

Brand new UI/UX designed to make trading structured products seamless.

Concentrated Liquidity

Up to 26x more yield (10x on average) for LPs on Real Yield. Up to 26x more capacity (10x on average) to mint & trade Impermanent Gains options.

Below, the comparison between Earn Vault Yield on Full Range (Smilee v1) or Concentrated Liquidity (Smilee v1.69) for different level of Implied Volatility

Below, the comparison between Impermanent Gain Vault Size on Full Range (Smilee v1) or Concentrated Liquidity (Smilee v1.69) for different level of Implied Volatility.