"Panoptic plans to bring its so-called 'panoptions' perpetual options to the DeFi market. Perpetual options are a financial derivative similar to perpetual futures, providing the same functionality as trading traditional options but without an expiry date, offering continuous rollover every 12 seconds."

https://www.theblock.co/post/263771/panoptic-raises-7-million-to-build-perpetual-options-platform-for-defi