Layer 1 blockchain Sui (SUI) ecosystem dApp DeepBook Protocol (DEEP) announced the launch of 'DeepBook Predict,' its on-chain options and prediction market infrastructure, on the testnet. Predict is an options primitive that can be combined with DeepBook's spot and margin functionalities, supporting the construction of binary markets, call options, put options, leveraged products, and structured products. DeepBook explained, "Through an options oracle developed in collaboration with Block Scholes, we have implemented an institutional-grade options pricing model in an on-chain environment." Furthermore, Predict is integrated with margin functionality, allowing for the use of position leverage, and supports transaction execution speeds of less than 400ms based on the Sui network. DeepBook stated, "The TVL of the on-chain options market is currently around $100 million, which is still an early stage, and Predict will accelerate the expansion of DeFi options infrastructure."
