Top 8 Panoptic Competitors & Alternatives in 2025
Updated onFind more companies like Panoptic. We've shortlisted leading alternatives and mapped their strengths, pricing, and go-to-market focus.
Panoptic
Best for power usersPanoptic is a decentralized perpetual options protocol and trading app that enables minting, trading, and market-making of oracle-free perpetual puts and calls integrated with Uniswap v3 pools.
Competitors
#1Est. 2021 • 2-10 employeesDerive
Best for power usersDerive (formerly Lyra) is a decentralized options and derivatives trading protocol that provides on-chain options, perpetuals and structured products primarily on Ethereum layer-2 networks.
#2Est. 2019 • 11-50 employeesOpyn
Best for power usersA decentralized derivatives protocol that enables permissionless perpetual markets, options, and automated market-making on ERC‑20 assets.
#3Est. 2021 • 11-50 employeesDopex
Best for power usersA decentralized options protocol that offers Single Staking Option Vaults, option pools, and a dual-token model (DPX/rDPX) to maximize liquidity and reduce exposure for option writers and buyers.
- #4Est. 2021 • 11-50 employees
Ribbon Finance
Best for power usersA decentralized finance protocol that offers automated crypto structured products and options-based yield vaults to generate risk-adjusted returns.
- #5Est. 2020 • 11-50 employees
Hegic
Best for power usersHegic is a decentralized, on‑chain peer‑to‑pool options trading protocol (with a native HEGIC token) that enables non‑custodial ETH and WBTC call/put options and liquidity provision.
#6Est. 2021 • 11-50 employeesGMX
Best for power usersGMX is a decentralized spot and perpetual exchange deployed on Arbitrum and Avalanche that enables on‑chain leveraged trading, liquidity provision via the GLP pool, and token staking (GMX/GLP).
#7Est. 2017 • 51-200 employeesdYdX
Best for power usersdYdX is a decentralized derivatives trading platform that offers non-custodial perpetuals, margin, and advanced trading tools across multiple chains.
#8Est. 2019 • 11-50 employeesPerp Labs
Best for consumersPerp Labs is a decentralized finance company (founded in 2019) that builds Perpetual Protocol — a decentralized perpetual futures DEX — and consumer-facing crypto products like Nekodex.
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