Deribit Expands Altcoin Options With USDC-Settled AVAX and TRX Contracts

TLDR

• Deribit launches USDC-settled options for AVAX and TRX, expanding altcoin derivatives.
• AVAX options represent 100 AVAX per contract and settle fully in USDC.
• TRX options use a 10,000 TRX contract size with cash settlement in USDC.
• Covered calls and protective puts enable yield generation and downside hedging.
• USDC anchors settlement, rewards, and accounting across Deribit’s growing platform.

Deribit expanded its derivatives suite as it introduced USDC-settled options for Avalanche and Tron, and the move strengthens its multi-asset offering. The exchange already supports USDC-settled perpetual markets for both coins, and the update broadens hedging and yield tools. USDC remains central to the new structure, and it also anchors the platform’s monthly USDC rewards for eligible account holders.

AVAX Options Market Structure

Deribit added AVAX options to meet growing demand for structured exposure, and the contracts settle directly in USDC. Each contract represents 100 AVAX, and this contract size aligns with existing altcoin standards on the platform. Moreover, the exchange supports USDC as the settlement and reward currency, and it continues to highlight its expanding set of USDC markets.

The AVAX options offer call and put structures, and both allow users to manage directional exposure with defined premium costs. Call buyers gain the right to purchase AVAX at a fixed strike, and put buyers secure the right to sell at a predetermined level. These rights settle in USDC, and the mechanism ensures predictable cash flows without requiring physical delivery of tokens.

Deribit also pointed users toward hedging frameworks that pair spot AVAX holdings with put options, and this adjusts downside risk while keeping upside potential. Covered call strategies remain available, and call sellers can collect USDC premiums against their AVAX positions. However, the firm noted that AVAX deposits are not supported yet, and users cannot use the token as an offset currency.

TRX Options Market Structure

The platform also launched TRX options with USDC settlement, and this expands its altcoin derivatives range. Each TRX option contract represents 10,000 TRX, and the notional structure suits traders seeking scalable exposure. USDC again plays a central role, and monthly USDC rewards remain available for eligible jurisdictions holding USDC balances.

TRX put options allow holders to protect spot holdings with a fixed strike, and this limits losses during market declines. TRX call options allow users to position for potential gains, and the premium paid in USDC defines the maximum loss. The exchange emphasized that all options remain cash-settled in USDC, and the structure provides a streamlined approach for hedgers.

Users can also use covered calls on TRX spot, and this approach generates USDC yield while capping upside beyond the strike price. The strategy reduces the effective cost basis, and it mirrors similar practices across other supported altcoins. Yet Deribit confirmed that TRX deposits are not enabled, and USDC remains the only settlement and reward currency.

Market Context and Platform Expansion

Deribit continues to build its derivatives ecosystem, and the introduction of USDC-settled AVAX and TRX options extends its focus on altcoin coverage. The exchange already holds a large share of global options activity, and it increasingly leverages USDC due to its stability and regulatory clarity. Moreover, the platform aims to support expanding hedging needs as more users seek structured exposure in crypto markets.

USDC settlement simplifies accounting, and it reduces complexity for users who avoid physical delivery. The exchange positions USDC as a unifying element across futures, perpetuals, and options, and it expects continued demand for multi-asset instruments. With this expansion, Deribit reinforces its role in shaping standardized crypto derivatives while prioritizing USDC integration across product lines.

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