Buying puts can be a one of the way to hedge in a market like this.. basically, protecting against a further drop while keeping exposure to a recovery. like if you’re holding $LIT, here’s how that could work on @DeriveXYZ . you choose how many tokens to protect, the price below which protection starts, and when it expires. the market determines what that protection costs… say you hold 1,000 LIT and want protection below $2.50 for a month. if the quoted premium were $0.10 per token, you’d pay $100 upfront, plus fees. this is an example, not a live quote. so at expiry: - LIT at $1.50 → the put pays $1 per token, or $1,000 in USDC. that offsets the drop below $2.50 on your holdings. - LIT at $4 → the put expires worthless, but you still own your LIT and keep its upside. the protection cost you $100 plus fees. you still bear any loss down to $2.50, and the protection ends at expiry. i think it’s worth understanding if you’re bullish longer term but cautious right now. whether it’s worth paying for depends on the actual quote.