Competitor Analysis

As a novel product, Stable Jack is positioned between yield products like Pendle and derivatives platforms like GMX and Hyperliquid.

Compared to Pendle, Stable Jack offers a better user experience and more options, summarized as follows:

• While Pendle only allows yield and points trading, Stable Jack also enables volatility trading.

• At Pendle, Yield Token holders give up their principal for potential returns. However, at Stable Jack, users can maintain their principal while benefiting from leveraged yield returns.

• Pendle only supports pairs with maturity dates, whereas, on Stable Jack, most pairs do not have a maturity date.

• Stable Jack allows third-party protocols like market makers, hedge funds, and fund managers to create Curated Pairs accessible to retail users—something not possible on Pendle.

Stable Jack’s Volatility Token is set to revolutionize the derivatives market, which is currently dominated by GMX and Hyperliquid. Stable Jack offers several advantages over these protocols:

• Traders on GMX and Hyperliquid must always manage the risk of liquidation, while Volatility Token holders at Stable Jack face no liquidation risk.

• GMX and Hyperliquid require traders to pay significant funding fees, which forces them into short-term positions. In contrast, Stable Jack has no funding fees, allowing users to maintain leveraged long exposure for extended periods.

• Leverage contracts at GMX and Hyperliquid are not tokenized, unlike Volatility Tokens at Stable Jack, which provide better capital efficiency.

• Volatility Tokens are the most cost-effective way to achieve long exposure, as traders are not required to pay funding fees.