Using the app

A practical walkthrough of every user journey in the app. All of them start on Markets — connect a wallet first (top right), and add the network if your wallet does not know it yet (see Network & wallet).

Earn the premium — split & subscribe

  1. Open Markets and pick an asset (mNVDA, mMSFT or mTSLA).
  2. Choose a cap on the segmented control — 0%, 2%, 5% or 10%. Watch K and both legs' indicative quotes update.
  3. In Position Preview, enter the deposit amount.
  4. Keep "Consign the Upside to this epoch's auction" checked and set a reserve step (default 239 — sell even at the floor).
  5. Press Split & Subscribe, approve the stock token (exact amount, or unlimited if you tick the box), and confirm.

You now hold Income; your Upside waits in the auction. When the round clears, claim your net premium any time from Positions → Claim Proceeds.

Without the consign checkbox the action is a plain Split — you hold both legs yourself and can transfer or sell them anywhere, or merge on the Recompose page.

Buy the breakout — bid in the auction

  1. Open Auctions and pick the market's clock panel.
  2. Watch the descending price and the supply/demand metrics.
  3. Enter a quantity; the panel shows the mUSDG you will escrow at the current interpolated price.
  4. Press Place bid, approve mUSDG, confirm.
  5. After finalize: claim your filled Upside (Claim fill) and any refunded escrow (Claim refund).

At settlement, if S > K, claim your tokens from Positions → Claim Upside. If S ≤ K, the Upside expires worthless — the premium was the entire risk.

Recompose — merge back

  1. Open Recompose and select the market.
  2. Enter how many pairs to merge (bounded by your smaller leg balance).
  3. Press Merge — one confirmation, no approval, no fee. You receive stock tokens immediately.

Keep the wheels turning

The protocol advances itself through unpermissioned cranks — anyone can press them, and on this network gas is negligible:

  • Launchpad — create the next epoch's series for any registered market.
  • Auctions → Keepers — finalize a finished round, reschedule a failed one, open or settle a series when its window has passed.
  • Epochs — see the calendar, the timeline and settlement-day qualification reasons.

Reading the numbers

  • Everything marked Indicative (model) is a Black-Scholes estimate (σ = 25%, r = 0) shown for convenience — the auction sets the real price.
  • Prices show two decimals (full precision on hover), token amounts four, mUSDG two.
  • Every transaction links to the block explorer for verification.