  The atomic swap protocol allows for the exchange of cryptocurrencies on
different blockchains without the need to trust a third-party. However, market
participants who desire to hold derivative assets such as options or futures
would also benefit from trustless exchange. In this paper I propose the atomic
swaption, which extends the atomic swap to allow for such exchanges. Crucially,
atomic swaptions do not require the use of oracles. I also introduce the margin
contract, which provides the ability to create leveraged and short positions.
Lastly, I discuss how atomic swaptions may be routed on the Lightning Network.
