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>>Yield Perps Debut: Nunchi Partners with Based to Unveil Ground‑Breaking DeFi Derivatives

Yield Perps Debut: Nunchi Partners with Based to Unveil Ground‑Breaking DeFi Derivatives

crypthub

1 day ago

Yield Perps Service Overview

The Yield Perps protocol, launched by Nunchi in partnership with Based, offers perpetual derivatives linked to interest rates, staking yields and funding rates. Traders can take long or short positions without locking the underlying capital, separating yield exposure from asset ownership. This enables efficient speculation and hedging while keeping liquidity free.

Technical Architecture

Built on Hyperliquid’s HIP‑3 framework, the service creates synthetic representations of liquid staking, money‑market and restaking yields. Oracle feeds provide accurate yield data, while Based’s on‑chain trading engine handles order matching and liquidity aggregation. Perpetual contracts settle continuously, ensuring price convergence with underlying rates.

Strategic Partnership

Nunchi contributes expertise in yield‑curve modeling and derivative structuring, whereas Based supplies proven execution and liquidity infrastructure. The collaboration reflects a growing trend of protocol specialization, allowing each project to focus on core strengths. It also aligns with emerging regulatory clarity around crypto derivatives.

Market Impact and Outlook

Early trading volumes surpassed expectations, highlighting strong demand for capital‑efficient yield exposure. Analysts project yield derivatives could represent 15‑20% of DeFi derivative volume within two years. The service adds risk‑management tools, arbitrage opportunities and broader access for both retail and institutional participants.