Quickstart
Open the app, connect a wallet, and take a side. You go long to earn the premium and take the losses, or you go short to be paid the realized loss. The app is a preview today, with illustrative numbers and no live deposits. The index it sits on is real and on chain.
Go long, earn the premium
- Launch the app and connect your wallet.
- Choose Go long.
- Enter an amount in USDC and read the projected yield, the 3.63% risk free rate plus what shorts pay.
- Deposit into the pool and mint the long token. Your capital earns the risk free rate in tokenized treasuries plus the premiums, and stands as the first loss capital behind the index.
- Optionally post a limit order, backing at a rate of your choosing or better, instead of taking the market curve. It rests in treasuries until short demand climbs to it.
Go short, be paid the loss
- Choose Go short.
- Enter the notional N for your position.
- Pay the streaming cost, locked at the curve rate you buy.
- You are paid the realized loss on N if the index takes a loss. It settles on the published number off the on chain loss feed, with no counterparty to chase.
Good to know
- Every contract is funded in full. There is no margin and no liquidation of your position.
- Settlement is in USDC and runs in code once a loss is final.
- The index, its spread, and its constituents are public at the index page.