Onchain options are waiting for their Hyperliquid moment. @KyanExchange is one of the protocols trying to change that. Kyan combines an order book matching engine with onchain portfolio margining and multi-leg execution in single atomic transactions. You can deploy complex strategies in a few clicks instead of placing four separate orders and hoping they fill. The portfolio margin system is what makes this practical. If you're running a butterfly spread with offsetting legs, the system recognizes that the risks partially cancel out and margins you accordingly. The liquidation engine works differently from most DeFi protocols. Kyan performs partial unwinds. It closes the minimum number of positions needed to bring the account back within margin requirements. This is a meaningful upgrade over complete liquidations that have blown up DeFi traders for years.(Delphi Digital)