Derivatives on Elysium

Five derivatives projects, none live, and the two with the most transactions have nine and ten wallets respectively. Temporal Finance has processed 44,856 transactions from 9 wallets — roughly five thousand each. Takes has done 3,862 from 10, and reports $1 of TVL.

That pattern — a tiny set of addresses generating enormous transaction counts — is the signature of a test suite, not a market. Pindar is the only one here with anything resembling a user base (1,626 wallets, 3,471 transactions), and even that is two orders of magnitude below the launchpads.

Bound and Branchpoint are still exploring.

Derivatives are the hardest thing to run on any chain: they need oracles, liquidators and deep liquidity before the first trader arrives. On a testnet with none of those, these five are building the machinery and measuring it against themselves.

They hold 38 of the 550 contract addresses we track, with 43 declared. When one of them reports more wallets than transactions, that will be worth a second look.