Opyn is a DeFi-native derivatives and options infrastructure. Long Squeeth gives traders a leveraged position with unlimited ETH upside, protected downside, and no liquidations. Long Squeeth holders pay a funding rate for this position. Short Squeeth is short an ETH position. Traders earn a funding rate for taking on this position, paid by long Squeeth holders.

Squeeth strategies are a collection of automated yield strategies for different market conditions that allow users to earn funding, paid by the daily funding rate of Squeeth buyers. Users simply deposit ETH and the contract automatically manages the strategy. Liquidity providers earn LP fees for providing SQTH-ETH liquidity. LPing in the SQTH-ETH pool is similar to being long ETH^1.5, which is constantly rebalanced or continuous ETH 1.5x leverage. Users can mint or buy Squeeth and deposit Squeeth + ETH into the Uniswap V3 SQTH-ETH Pool.