CryptoWorld News reports that cleave, an options and leveraged trading protocol without clearing risk, has announced the launch of its testnet. The core mechanism of the protocol allows users to split 1 ETH into a “cash asset” and a “call option asset,” with the combined value always equal to 1 ETH. Since the process involves no borrowing or margin mechanisms, users’ positions will never be liquidated or forced to close. Ethereum founder Vitalik Buterin previously published an article exploring the feasibility of using options as the new underlying layer for DEFI. On-chain data shows that Vitalik has completed a “call ETH” trade on this testnet, and is currently ranked second on cleave’s leaderboard.

ETH-3.39%
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VineGeometry
· 1h ago
Breaking spot assets into derivative building blocks makes this approach much more attractive than pure lending agreements.
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NeonMeltsIceCream
· 3h ago
Splitting ETH as the underlying asset for options finally means you don’t have to be scared awake in the middle of the night by liquidation/forced liquidation alerts.
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MintCondition
· 3h ago
V God personally steps in, this project has something special
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PermissionedFury
· 3h ago
Leaderboard second? Looks like the big shots are also testing the waters, I'm with you.
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