Research corpus MarketsBLC-STUDY-0187

Everlasting Options

An everlasting option is funded so that holding it approximates a rolling option position. The funding payment, not an expiry, keeps the price near the claim.

Official external source only
Design paper
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Record

Authors: Dave White and Sam Bankman-Fried
Date: 2021
Publisher: Dave White and Sam Bankman-Fried
Version: Source cited by the 2021 study. The study is the reading. This page does not add a second essay.
Document ID: BLC-STUDY-0187
DOI: None recorded
Last reviewed: 1 October 2026
Licence: No licence recorded. Rights status under review.

No hash is published. This build does not store those PDF bytes, so a checksum would be invented. Where a legacy path exists, it points at the Internet Archive copy of the old library.

Direct answer

An everlasting option is funded so that holding it approximates a rolling option position. The funding payment, not an expiry, keeps the price near the claim.

Where to read

Official source — Paradigm, 2021
Blockchain Lab study, the canonical readingOriginal commentary. Not a transcription of the paper.

Metadata and commentary only. The reading is the study page.

Full text

Full text is not published on this page. Public availability is not a licence to republish a document. Blockchain Lab has not recorded a licence that permits an HTML transcription, a training set, or a retrieval corpus of the paper. Text on this page is Blockchain Lab's own wording, or a pointer to a study that is also Blockchain Lab's wording.

What changed

A reading of the public document. Not a copy of it, and not a claim about a later network that reused the name.

Relationships

Canonical readingEverlasting options study
Related paperGMX
Related paperYield Space

Cite this record

These citations point at the source document. They are not a licence to copy it.

Author–date

White, D., & Bankman-Fried, S. (2021). Everlasting Options. Dave White and Sam Bankman-Fried. https://www.paradigm.xyz/2021/05/everlasting-options

BibTeX

@techreport{perpseverlasting2021,
  title = {Everlasting Options},
  author = {Dave White and Sam Bankman-Fried},
  year = {2021},
  institution = {Dave White and Sam Bankman-Fried},
  url = {https://www.paradigm.xyz/2021/05/everlasting-options},
  note = {Rights status: Official external source only. Blockchain Lab record: https://blockchainlab.com/research/corpus/papers/perps-everlasting}
}

RIS

TY  - RPRT
TI  - Everlasting Options
AU  - Dave White
AU  - Sam Bankman-Fried
PY  - 2021
PB  - Dave White and Sam Bankman-Fried
UR  - https://www.paradigm.xyz/2021/05/everlasting-options
N1  - Rights status: Official external source only
ER  -

CSL-JSON

[
  {
    "type": "report",
    "id": "BLC-STUDY-0187",
    "title": "Everlasting Options",
    "author": [
      {
        "literal": "Dave White"
      },
      {
        "literal": "Sam Bankman-Fried"
      }
    ],
    "issued": {
      "date-parts": [
        [
          2021
        ]
      ]
    },
    "publisher": "Dave White and Sam Bankman-Fried",
    "URL": "https://www.paradigm.xyz/2021/05/everlasting-options",
    "note": "Rights status: Official external source only. Not a licence to republish the paper."
  }
]

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Rights record

Source status: Official source
Use status: Metadata and commentary only. The reading is the study page.
Rights: Official external source only
Training and retrieval: Not permitted from this site. There is no rights-cleared full text to retrieve or to train on.

Rights and licensing Corrections