Markets close. Risk doesn’t.
Hypercall is integrating Block Scholes into our volatility-oracle infrastructure. We’re bringing specialist derivatives data into the foundation we’re building for options across crypto and real-world assets.
The reason starts with a simple distinction: an asset’s price tells you where it trades now. An option also depends on what could happen before it expires. Pricing that uncertainty calls for a different kind of data.
Why volatility oracles matter
Implied volatility expresses the uncertainty reflected in option prices. It varies across strike prices and expiration dates, forming a volatility surface. That detail matters: protection against a large move tomorrow can carry a different price than exposure over several months.
A volatility oracle makes those inputs available to the systems that need them. Block Scholes’ oracle infrastructure delivers volatility surfaces and other derivatives data through push and pull integrations.
For options infrastructure, volatility inputs support three connected jobs:
- Pricing. Estimating an option’s theoretical value for its strike and time to expiry.
- Valuation. Updating reference values as the market’s pricing of uncertainty changes.
- Risk. Assessing how positions respond to changes in the underlying price and volatility.
An underlying asset can remain at the same price while demand for protection rises. Its options can become more expensive without a corresponding spot move. A system looking only at the underlying price would miss that change.
The quality of the inputs matters throughout the option’s life, from evaluating a potential trade to understanding an existing position. Volatility data is part of the foundation for those decisions.
Why Block Scholes
Block Scholes is a leader in derivatives data and volatility analytics. Its work combines quantitative research, volatility-surface modeling, and oracle delivery for trading infrastructure.
Its data and analytics span spot, perpetuals, futures and options markets, including reference pricing, implied volatility surfaces and risk analytics. Block Scholes delivers data through APIs and on-chain and off-chain oracle solutions, with its crypto options data also available on the Bloomberg Terminal.
There is a concrete institutional credential behind that positioning. In March 2026, Block Scholes announced that its cryptocurrency implied-volatility data was available through the Bloomberg Terminal, giving professional users access to BTC and ETH surfaces within their existing workflows.
For Hypercall, that combination of derivatives expertise and practical data delivery is what makes the integration compelling. We want the infrastructure behind options to reflect the complexity of the markets they reference.
The weekend problem for real-world assets
Around-the-clock trading meets markets with opening hours. A tokenized asset or a derivative referencing an equity or commodity may trade while the traditional reference venue is closed.
News still arrives. Traders still adjust their expectations. Yet reference-market prices may stop updating, liquidity can change, and some hedging routes are unavailable until those markets reopen.
A Friday closing price cannot describe all of that. Nor does a quiet reference feed mean the economic risk has disappeared. The challenge is especially important for options, where both the underlying price and uncertainty over the remaining life affect valuation.
Block Scholes has made these issues explicit in its work on RWA derivatives pricing, including market schedules, gaps in liquidity, and differences between trading venues.
Foresight backed by research
Block Scholes has been studying what happens outside traditional market hours. Its research on Bitget’s RWA perpetual markets found substantial weekend declines in trading volume per hour across the contracts studied. It also found that quoted spreads often remained narrow, showing why one liquidity measure cannot tell the whole story.
In a July interview, its research team described work on weekend oil pricing, overnight gold pricing, and equity-perpetual settlement indices. That focus shows the foresight we value: treating the difficult hours as part of the infrastructure problem from the start.
Building for the whole week
We’re integrating Block Scholes because expanding the range of assets behind options also expands the demands on the data underneath them.
Our direction is clear: options infrastructure built around how markets actually behave, throughout the week.