Smart Contracts
Pods is a decentralised non-custodial options protocol where users can participate as issuers (sellers) or executors (buyers). Sellers provide strike asset
as collateral to the a contract under certain conditions (strike price
and expiration date
) and them can sell the minted ERC20 odToken with a premium on a third-party, DEX, CEX or on our own UI. Buyers who acquired that odToken are able to exchange 1 unit of odToken
+ 1 unit of underlying asset
* strike price
until
expiration date
.
The Pods Protocol contracts are open source and all source code can be found on Github. An overview of the contracts is below, with more details for developers in the following pages.
If you need development support, join the #developers channel on our Pods Finance community Discord server.
OptionCore (odToken)
The OptionCore
contract contain core properties shared by call and put. It's must be inherited from their parents contracts (codToken
/ podToken
) to be a full used contract. See the odTokens section of the documentation.
podToken
The put tokens orpodToken
contracts are EIP-20 / ERC20 tokens, that represent the right of sell the same amount 1:1underlying asset
at the strike price
until maturity date
. (E.g: 1 unit of podToken
plus 1 unit of underlying asset
gives me the right of exchange for x units ofstrike asset
/ strike price
). This contract contains 5 functions:
Depositing strike asset as collateral, and minting
podTokens
.Burning
podTokens
if seller wants to exit position beforeexpiration date
.Exchange function in case
podToken
holder wants to exercise his right.Withdraw collateral after
expiration date
.
codToken
The call tokens orcodToken
contracts are EIP-20 / ERC20 tokens, that represent the right of buy the same amount 1:1underlying asset
at the strike price
until maturity date
. (E.g: 1 unit of codToken
plus 1 unit * strike price
of strike asset
(gives me the right of exchange for 1 unit of underlying asset
). This contract contains 5 functions:
Depositing
underlying asset
as collateral, and mintingcodTokens
.Burning
codTokens
if seller wants to exit position beforeexpiration date
.Exchange function in case
codToken
holder wants to exercise his right.Withdraw collateral after
expiration date
.
odTokenExchange
(coming soon)
The exchangeOdToken
will manage selling codTokens
/podTokens
at partners exchanges, working as an aggregator for finding liquidity. We will provide an UI to interact with this contract.
odTokenFactory
(coming soon)
The odTokenFactory
will be responsible for deploying a new codToken
/ podToken
instance, and checking if already exists a deployed contract matching the same 4 parameters:
Underlying Asset address
Strike Asset address
Strike Price
Expiration Date
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