DeFi

I feel like there are only two primitives here, everything else is just a combination of primitives:

swap -> swap
option -> option
loan -> swap + option
leverage -> loan + swap, repeat
vault -> loan to a smart contract
stable -> unit of account
cdp -> loan + stable
perp -> under collateralized loan

CTO Astaria.xyz, Father or two, Ethereum believer 🤩, Ride or die Based Ghoul

Loan aka over collateralized loan, I understand the swap, but how’s it an option as well? 

Loan = double swap ( where swap2 < swap1)

Data Engineer by day, Ethereum advocate by night

Because you literally give the debt tokens to the borrower (swap).

Their collateral goes in lock up (option) with an interest payment (premium) at repayment (strike).