Deri V4 vs SOFA.org: Options, fees and audits (2026)

Deri V4 and SOFA.org both offer on-chain options, but their product designs differ. Deri V4 centers on everlasting calls and puts: positions have no expiry date, and funding payments take the place of expiry. Traders can go long or short and select target strikes. The protocol also covers perpetual futures. SOFA.org offers options and structured products aimed at on-chain trading and yield, with products such as Automator and trend-style products. Its product mechanics are not fully described publicly. Deri V4 lists 12 chains, compared with four for SOFA.org; both are available on Arbitrum and BNB Chain. The reported TVL is about $7.70 million for Deri V4 and $1.47 million for SOFA.org. Those figures do not establish how much liquidity will be available for a particular trade, so check the product interface before committing funds.

Deri V4 advertises gas-free trading, but network gas is only one possible cost. Its trading fee schedule is not published, and users of everlasting options should account for funding payments between long and short holders. Trading fees or spreads may also apply, with details shown in the interface or documentation before a trade. SOFA.org has not published its fees clearly, including any product markup, protocol fee, settlement fee or performance fee for Automator. Users should also check the relevant chain's gas fee and the displayed price before confirming a product. Neither platform's published fee information gives a complete basis for comparing total costs in advance. For either protocol, inspect the quoted price, funding or settlement terms, and network fee for the specific transaction. Do not treat a gas-free claim as proof that a trade has no costs.

Deri V4 has no audits listed, so users have no listed third-party contract review to consult. Its derivatives design also carries risks from smart-contract bugs, oracle errors and failures in the pricing model. SOFA.org lists two audits, but the auditors, dates, scope and findings are not public. That makes it difficult to assess what was examined or whether any issues were resolved. SOFA.org describes its settlement as non-custodial and handled through smart contracts; this does not remove contract, oracle, settlement or product-price risks. Both platforms offer options-related products that can lose money, and SOFA.org does not publish loss-protection details. Derivatives rules vary by location, so check local laws before using either platform. Only commit funds you can afford to lose, and review product terms and audit reports where available before trading.

Deri V4 is the more extensive choice for chain coverage: it lists Linea, BNB Chain, zkSync Era, Supra, Arbitrum, Base, Taiko, Sonic, Manta, Scroll, Polygon zkEVM and Blast. That reach may be useful if you already use one of those networks, though moving assets between chains can add wallet and bridging complexity. SOFA.org lists Ethereum, Arbitrum, BNB Chain and Polygon. Its nonprofit, open-source framing and token-holder governance may appeal to users who value that structure, while its RCH airdrops are not guaranteed to retain value. Deri V4's gas-free claim may appeal to active traders, but fees beyond gas are not published. SOFA.org's Automator and structured products offer a different experience from choosing an everlasting call or put, but their mechanics and costs need careful checking. Neither platform publishes enough fee detail to make a simple cost comparison.

Choose Deri V4 if you understand derivatives and specifically want calls or puts without an expiry date, selectable strikes, long and short positions, or a wider choice of chains. Its gas-free trading claim is relevant to active traders, but do not assume that funding, fees or spreads are zero. Choose SOFA.org if you want options packaged as structured products, value its nonprofit and open-source framing, or prefer to consider a project with two audits listed. Its audit details and fees still need closer review, and structured products may be harder to evaluate than a straightforward position. Neither is an obvious beginner choice: both involve options risk, and their fee information is incomplete. If audit transparency is your priority, SOFA.org has more listed coverage; if chain range and everlasting options matter most, Deri V4 is the clearer fit.