DELIVERY OPTION

p2p delivery option

Options deployed at Ropsten  0x9007E513C0407883A0966A5E7671cfc284BCaF87

Options factory MakeOptions deployed at  Ropsten 0xA2ca87047320F8Dd5876E07C811F6a350700E8b7

Faucet deployed at at Ropsten  0xE31dEa99C949Ba079a2Efad4D5080b7872D5

DApp tested under Metamask on Ropsten.

You can install Metamask: https://metamask.io/

Let's go!

​

1. Change in Metamask  network to Ropsten 

If you need, get some Ropsten Ether: https://faucet.metamask.io/   

​

2. Press button "Test This" below and arrive to Dapp.

​

3. After this - go to Faucet tab and ask for tokens. BaseActive1 wETH - 10 tokens,

BaseActive2 USDt - 10 tokens,

4. After tokens addresses will appear you can add tokens to you wallet, if it didn't automatically…

​

Algorithm Description

​

You’d start from “Issue Option” 

​

1. Seller emits  option as smart contract:

• ERC20 token address of your base active (to sell)

• OptionSumBA1sell - amount of options in BA1  to sell 

• SecurityDepositPercent  for Base Actiive 1 - SDBA1

• OptionSumBA2buy - amount of BA2  to exchange for BA1 ,

• SecurityDepositPercent  for Base Actiive 1 - SDBA2

• ERC20 token address of base active to buy

• ExpireDate  - date and hour till  expiring of option

• Description - hmmm.... description here

Then go to “Sell Option”

1.1 Seller pays  in BA1sell*SecurityDepositPercent =  security seposit to contract (as percent approx equal to sum of  volatilities of Base Acives ) in BA1 ERC20 tokens

As Buyer -  goto “Buy Option”

2. Buyer buy ERC20 tokens of emitting option as for same sum in BA2 (sum * SDBA2  (percent equal to sum of volatilities of Base Actives).

2.1 Buyer can trade and resale options tokens as usual ERC20 tokens

3. Before the moment  the day of option expires, Seller should put residual part  of OptionsSum to the contract in BA1 ERC20 tokens.

4. After that, buyer  can pay residue of sum for his/her tokens in BA2 to contract and get proportional sum  of BA1.

5. If all right, option fulfilled, and Seller paid all sum of option to contract, after option expire,

Seller can withdraw unsold tokens and  return un-exchanged part option.

Force majeure 

6. IF Seller escapes from paying residual sum of BA1sell, he/she lose SecurityDeposite and

6.1. Buyers have to send their option token to contract and

6.2  returns their Buyer's payments of SD + and get proportional part of  Seller's Security Deposite as penalty for lose profit.

Operator’s fee

7.1 Operator can get royalty (1%)

7.2 after options mature finished, operator get rest of BA1sell from for locked unfunded (brocken) deposite of BA2buy