Primitive
Primitive is an Ethereum derivatives AMM whose liquidity pool tokens replicate covered call payoffs without using price oracles.
What is Primitive?
Primitive is an oracle-free derivatives AMM on Ethereum. Users provide liquidity to two-token RMM pools that mint LP tokens designed to replicate the payoff of a covered call, capturing theta decay through trading fees. The pools double as a spot exchange for swappers, and the LP tokens are composable as derivative collateral inside other DeFi protocols.
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Primitive alternatives
Explore web3 competitors and apps like Primitive.
Derive
Polynomial Protocol
BaseVol
Ithaca ProtocolApp store listings are independently reviewed and written by Alchemy using a combination of inbound submissions, editorial research, public project sources, and third-party directories, including ecosystem data from The Grid under the Open Database License, DefiLlama, DappRadar, Reown, and chain ecosystem pages.
