what's Moby?

Moby is a decentralized options trading protocol built on Arbitrum, with deployments on Berachain, specializing in on-chain perpetual and fixed-maturity options for cryptocurrencies like BTC and ETH. It features up to 1,000x leverage without liquidation risks, tight spreads, and advanced pricing models incorporating Greeks (delta, gamma, etc.) for TradFi-like accuracy. Liquidity is maximized through Option Liquidity Pools (OLP), where providers supply USDC to back options across strikes and expiries, enabling efficient capital utilization and high yields. Traders access calls, puts, spreads, and structured products via a user-friendly interface at app.moby.trade. The protocol employs SPVs (Structured Product Vaults) for specialized strategies and automates settlements at expiry. Post-2025 exploit and chain wind-downs, Moby focuses on refinements for enhanced reliability and expansion.

Moby suffered a $2.5M Arbitrum exploit in Jan 2025; $1.5M recovered by whitehat.