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What is oToken (Opyn Protocol)?

Crypto Terms Glossary: What is oToken (Opyn Protocol)?

oTokens represent options contracts and are used to customize automated derivatives strategies by inputting specific variables such as the derivative's time of expiration, strike price, strike asset, and whether it's a call or put option. They can then be deposited into token vaults on Ribbon Finance, Curve, SushiSwap, Alpha Finance, and other DeFi protocols integrated with Opyn. This structure can allow users to execute specific investment strategies and earn weekly-compounding yields.

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