Panoptic: Perpetual Options Protocol Guide 2026
First on-chain perpetual options · +150 XP · 12 min read · Updated March 2026
What is Panoptic?
Panoptic is the first perpetual options protocol built directly on top of Uniswap V3. It enables truly decentralized, oracle-free options trading with no expiry dates and no counterparties. Options are synthetic and backed by the underlying Uniswap V3 liquidity.
Key innovation: LP positions as options. Instead of traditional options desks, Panoptic lets you convert Uniswap V3 LP positions into panoptions (perpetual put/call options). No oracle manipulation, no counterparty risk — just pure on-chain mechanics.
Key Features
How to Trade on Panoptic
Step 1: Connect Wallet
Visit panoptic.xyz and connect your wallet. Fund it with capital and approve token contracts.
Step 2: Select Pool
Choose a Uniswap V3 pool (e.g., ETH/USDC). Panoptic creates options on real V3 liquidity.
Step 3: Choose Option Type
Decide between put (bearish) or call (bullish) options. Set your strike price and range.
Step 4: Buy & Monitor
Execute the trade, monitor Greeks (delta, gamma, theta), adjust position if needed. No expiry — hold indefinitely.
Risk Management
Leverage Risk: Up to 5x leverage can amplify losses. Liquidations possible.
Liquidity Risk: Underlying Uniswap pools may face slippage in extreme volatility.