In traditional finance, a derivative is a contract that derives its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the “underlying.”
Idle enables tokenizing the best interest rate among Ethereum money markets. Interview with Idle co-founder, Matteo Pandolfi.
Opyn is the insurance layer for decentralized finance.
rDai (redeemable DAI) allows you to invest your money in an Interest generating pool, used for collateralized loans. You still hold on to the exact amount you invested, and can spend and transfer it at will.
Synthetix platform enables creation of the on-chain synthetic assets that tracks value of assets in real world. Interview with Kain Warwick, founder of Synthetix.
Chai it’s an ERC-20 token that lets you earn interest on Dai without requiring it to be locked in the Maker Dai Savings Contract.