Lauris(@lzminsky):Introducing Statebook: Markets for All States of the World. For the past few months, I’ve been exploring a simple market-design question: What becomes possible if we start with the exposure someone needs, rather than the contract an exchange happens to list? This question is becoming increasingly relevant as @HyperliquidX, @Kalshi, @Polymarket, and vertically specialized exchanges such as @Architect_Fi expand the universe of tradable underliers, and the boundaries between perpetuals, options, and event contracts begin to blur. My answer: structured-product heaven. The working paper and interactive research interface are below. Thank you to @0xsmac, @0xfishylosopher, and Chris Saunders for reviewing and contributing to the initial draft.

2026.09.10 14:01

Introducing Statebook: Markets for All States of the World. For the past few months, I’ve been exploring a simple market-design question: What becomes possible if we start with the exposure someone needs, rather than the contract an exchange happens to list? This question is becoming increasingly relevant as @HyperliquidX, @Kalshi, @Polymarket, and vertically specialized exchanges such as @Architect_Fi expand the universe of tradable underliers, and the boundaries between perpetuals, options, and event contracts begin to blur. My answer: structured-product heaven. The working paper and interactive research interface are below. Thank you to @0xsmac, @0xfishylosopher, and Chris Saunders for reviewing and contributing to the initial draft.