Hi, we are
Quedex Bitcoin Futures and Options Exchange. Currently, we are offering options on BTCUSD exchange rate.
Adding options on e.g. ERC-20 tokens is not technically difficult, but there are multiple financial issues with that.
First, altcoins and tokens share similarities with penny stocks, which have risk/reward profile similar to call options themselves. Why trade options on something already option-like?
The second issue is that selling options fully collateralized as you propose would require allocation of significant capital, allocation that is difficult to justify given the low expected volumes. Have you seen any OTC interest in such options?
While you mention that there were multiple projects for distributed options exchange, trading on an on-chain platform is completely pointless given the recent Ethereum network fees. And even if the fees were negligible, there is still issue of latency and transaction throughput.
That being said, if you just want to
hedge your altcoins portfolio, simply buy put
options. Keep in mind that, in the moves like recent ones, when Bitcoin falls 10%, nearly every other coin also takes a nosedive :-)