The most fundamental path to market fit in DeFi is to build something market-agnostic → a product suite that works regardless of market direction. And the most universal market-agnostic domain is simple: Volatility. This vector will only continue to expand as the space matures driven by the rising institutionalisation of crypto asset classes & the increasing appeal of structured derivatives in both CeFi + TradFi. Funding rates inherently reflect the core market forces between perps <> spot markets, and is the key mechanic that underpins this instrument. With notional OI for $BTC $ETH surging across major CEXs in recent years, this signals accelerating maturity + more complex opening-market dynamics. And if you zoom out, this growth is set to exponentiate further due to: 1⃣Broader adoption and rising participation in crypto asset trading (CeFi + TradFi) 2⃣Cross-venue arbitrage expansion, driven by alternative platforms + L2 perps growth This is the environment @boros_fi on @arbitrum is purpose-built for to fill the inefficiencies between these flows by introducing an extended, third-order derivative primitive. Currently, it's only scratching barely 0.045% of TAM w/ ~$91M avg. daily notional interest. And just like @pendle_fi V2, Boros sits at the intersection of two trends: 🔸Increasing market sophistication 🔸Structured exposure to volatility becomes more desirable as markets deepen. This positions Boros for slow, steady recognition → eventual maturity → and ultimately large-scale retail + institutional demand. Its utility spans both ends of the curve: a speculative primitive for retail, and a strategic instrument for advanced volatility + funding-rate-based strategies. With an inclusive fit for usage + immensely large market opportunity waiting to be tapped on, am personally looking forward to the growth in the coming years. Pendle Boros 🫡