Kyan (@KyanExchange) is closing the gap between onchain options and institutional platforms. Kyan is a derivatives platform combining options and perps with unified margin. They use a CLOB that enables robust matching and low latency execution. The platform includes features for professional traders such as advanced order types (FOK/IOC), real time order books, and an RFQ module that connects you privately with professional market makers. One key feature Kyan enables is Combo trades. You can execute multi leg strategies such as call spreads or straddles as one transaction. They also integrate perps alongside options under unified margin so you can delta hedge or use leverage with your strategy. With portfolio margining, all positions are assessed based on net portfolio exposure. This means higher leverage on hedged positions and less liquidation risk from isolated moves. Their system uses multiple market scenarios to compute the worse case PNL. When liquidations do happen, Kyan performs partial liquidations to preserve your capital instead of wiping out your positions instantly. Sub accounts let you run multiple strategies with zero cross risk. Each has independent margin requirements segmented by asset, so a BTC margin call can't touch your ETH positions. You can also offset short options with inverse perp positions on the same asset. Onchain options are just getting started with Kyan.(Delphi Digital)