Deribit Exchange Broadens Altcoin Derivatives Suite with USDC-Settled AVAX and TRX Options

Deribit has expanded its altcoin derivatives offerings by launching USDC-settled options for AVAX and TRX. These new contracts, available to users in eligible jurisdictions, are fully settled in USDC, aligning with the exchange's existing perpetual products. Unlike physical delivery options, these cash-settled contracts eliminate the need for token transfers upon expiration, streamlining the settlement process.

The AVAX and TRX options are available in both call and put variants, granting buyers the right—but not the obligation—to purchase or sell the underlying assets at predetermined strike prices. Each AVAX contract represents 100 tokens, while each TRX contract covers 10,000 tokens, a critical specification for traders assessing position sizing and managing risk exposure.

A notable operational detail is that Deribit does not currently accept AVAX or TRX deposits as margin offsets for these contracts, unlike its SOL and XRP markets. All settlements and margin requirements are strictly USDC-based. This approach simplifies the trading and collateral process but may limit flexibility for traders who primarily hold the underlying assets.