USDC

Injective

<a href="https://x.com/Injective" rel="noopener noreferrer nofollow">@Injective</a> has integrated its modular options protocol on testnet, adding fully collateralized calls and puts across six primary markets. The move extends the Injective (<a href="https://x.com/search?q=%24INJ&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$INJ</a>) ecosystem further into derivatives tied to both crypto-native and traditional assets.
<h2 id="six-markets-from-ai-compute-to-crude-oil">Six markets, from AI compute to crude oil</h2>
The testnet markets cover the Super Intelligence Compute Index (<a href="https://x.com/search?q=%24SICI&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$SICI</a>), which tracks the cost of renting AI computing power, along with synthetic derivatives for US500, US Tech 100, gold, silver and crude oil. Because the options are fully collateralized, each position is backed by the assets posted to the contract. According to the project, institutional trading desks and retail traders can write and execute options on these assets programmatically.
The integration is still on testnet, so it is not yet available to trade on mainnet with real funds. Injective has not been reported to have set a mainnet date in the sources reviewed.
<h2 id="built-on-the-sici-launch">Built on the SICI launch</h2>
The options rollout follows the launch of SICI itself. Injective said on Monday, Oct. 26, 2026, that it launched the index, an onchain benchmark tied to the hourly rental cost of five Nvidia GPUs and paired with a perpetual market on mainnet. The index covers Nvidia's H100, B200, H200, A100 and RTX 4090 chips, with the H100 weighted at 40%, the B200 at 25%, the H200 at 15%, and the A100 and RTX 4090 at 10% each.
LO:TECH calculates SICI using GPU rental-price data from compute marketplaces, with validation checks to filter outliers. The index publishes a trailing seven-day average, with hourly updates and a daily fixing at 19:00 UTC. SICI perpetual markets are live on Injective mainnet, offering up to 10x leverage with USDC as margin.
The compute index also builds on earlier work. On August 18, 2025, the network introduced a perpetual futures market tied to tokenized NVIDIA H100 GPU rental rates. The new index expands that approach from a single GPU model to a five-chip basket.
Options would add another way to trade these markets. Unlike perpetual futures, which carry liquidation risk at high leverage, options let buyers define their maximum loss upfront through the premium paid. Whether the new markets attract sustained activity is untested. Analysts note the next challenge for SICI is proving that the emerging market can attract sustained trading activity.
For now, Injective is positioning itself as a venue where a wide range of major markets can be traded onchain. The testnet results will show whether the options design can handle that ambition.
Sources:
<ul>
 <li><a href="https://blockchain.news/news/injective-launches-onchain-ai-compute-index-gpu-rental-market" rel="noopener noreferrer nofollow">Blockchain.News: Injective launches onchain AI compute index with GPU rental market</a></li>
 <li><a href="https://cryptobriefing.com/injective-super-intelligence-compute-index/" rel="noopener noreferrer nofollow">Crypto Briefing: Injective launches Super Intelligence Compute Index</a></li>
 <li><a href="https://grafa.com/en/news/crypto/injective-launches-onchain-index-tracking-ai-compute-prices" rel="noopener noreferrer nofollow">Grafa: Injective launches onchain index tracking AI compute prices</a></li>
</ul>

Injective Brings Onchain Options to AI Compute, Stocks and Commodities

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