Derive: Toros Options launches on Base - 27 Oct 2026

What happened

On 27 October 2026, Toros launched Toros Options on Base. Trades go through Derive's order book and market makers. Positions become ERC-20 tokens, which are blockchain tokens, representing a single option or a multi-option strategy. Launch offers 1% premium cashback on BTC, ETH, HYPE, ZEC and SOL options.

Confirmed

Global impact / market context

This gives Base users a new way to trade options, which are contracts giving the right to buy or sell an asset at a set price. Routing orders to Derive's order book and market makers could bring more trading activity and fees to Derive.

Analyst inference

Blockchain options trading may be expanding, and linking Toros users to Derive's existing order book adds a sales channel without building new liquidity, which means available trading counterparties, from scratch. The 1% premium cashback, a partial refund of option purchase cost, may attract early traders.

Analyst inference

What to watch

1. Toros Options routes trades through Derive's order book and market makers, and positions become ERC-20 tokens, which are blockchain tokens, representing one option or a multi-option strategy. Confirmed
2. Watch whether the 1% premium cashback, a refund on option purchase cost for BTC, ETH, HYPE, ZEC and SOL options, is extended beyond the launch period or changed. Proposed
3. Track whether trading activity through Toros adds meaningful options volume and fees to Derive, since more routed trades could raise protocol revenue and tighten spreads for users. Analyst inference

Affected assets

• SOL — Solana
• ETH — Ethereum
• BTC — Bitcoin

Evidence

• coinmarketcal.com