Key Metrics

Real Volume (24H)$123.6
Fully Diluted Valuation$3,274,431
ATH Date5/15/2021, 4:20:04 PM
ATL Date12/13/2022, 4:51:03 PM
Circulating Supply23M
Total Supply100M
Popularity Rank1953
What is Oiler?

Oiler Network (OIL) is a decentralized finance (DeFi) protocol designed for trading blockchain derivatives. The protocol provides users with the necessary tools to trade various blockchain protocols, including options, futures, and other exotic products. Unlike other DeFi protocols that offer simpler products, Oiler Network aims to be the go-to platform for everything related to trading blockchain protocols.

One of the unique features of Oiler Network is the introduction of "blockchain native" instruments, which can be priced and settled without off-chain oracles. This is made possible through the use of stablecoins and automated market makers (AMMs). The Oiler Network empowers option buyers to hedge risks inherent in blockchains in a trustless and decentralized manner. Users who already have access to blockchain protocol parameters, such as exchanges, miners, and institutions that need to hedge risks, can benefit from the Oiler Network's services.

Oiler Network was founded in 2020 and is still under development as of August 2021. The developers aim to make Oiler an on-chain trading protocol, allowing all users to exchange binary options without predicting the parameters of the blockchain. This will enable institutions, exchanges, miners, and layer-2 providers to hedge network shocks.

Oiler's initial set of tools are binary options for hashrate, block gas limit, and block times, which are fully collateralized. The payout for binary options is always 1 USDC, and the entire option can be exercised for all holders at the same time, saving gas fees for holders. Options issued by the Oiler Protocol will be available for trading through OTC, OptiSwap, and centralized exchanges in the coming years.

At the initial stage, four binary options were launched: gas option, hashrate option, capacity option, and ice age option. The gas option helps Ethereum users hedge against changes in Ethereum gas prices, while the hashrate option helps miners insure against block reward changes. The capacity option is based on gas limitation, while the ice age option hedges the risks of block timing fluctuations that could affect miners' earnings.

Oiler specifically allows hashrate put, hashrate call, block time call, block gas limit put, and block gas limit call, and each option meets the ERC-20 standard, making them tradable on AMM liquidity pools.

In conclusion, Oiler Network is a DeFi protocol designed for trading blockchain derivatives that allows users to hedge risks inherent in blockchains in a trustless and decentralized manner. Its unique features, including "blockchain native" instruments and fully collateralized binary options, set it apart from other DeFi protocols. As development continues, the Oiler Network aims to play a significant role in the DeFi market by allowing users to trade options on blockchain parameters.


The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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