Quick takeSqueeth (a derivative developed by Opyn) is a power perpetual indexed to the price of ETH raised to the second power. Power perpetuals are an iteration on everlasting options, which attempt to consolidate options market liquidity similar to perpetual futures.Composable perpetual options-like exposure has the potential to be a useful lego in the DeFi stack, specifically structured derivatives products, while also supporting the development of novel volatility-based on-chain derivatives.
