Perpetuity

Perpetual options market that let's you write/buy perpetual options for WETH and WBTC

Description

Perpetual options market on polygon. You can write/buy call/put options for WETH/WBTC. The option itself is perpetual, so there is an indefinite right to exercise the option as long as you maintain the premium payment flow to the option writer. The user flow begins with the option writer creating an auction to essentially elect the b-side of the option contract. Users bid on the premium payment amount that they will be streaming to the option writer. After the auction ends, the winner can call a function to create the option and start the payment stream. The option contract itself is an NFT that gets burned upon exercising or if the payment flow stops. A secondary market for the options will be created soon.

Perpetuity showcase

How it's made

Chainlink for price data and Superfluid for payment flows. The smart contracts were written to deploy Option contract NFTs which represent ownership of an option contract. The main contract was made into a Superapp using Superfluid to hook into payment flow events and handle ownership change and redirection of payment flow to option writer. Polygon's mumbai network will be used to launch the app.

Technologies used

ChainlinkCovalentHardhatMetaMaskPolygonSoliditySuperfluid