Product Recipe
Perpetual Option
Call/Put Option
Describe the basic positions that can be expressed using Uni LPT.

①: exchange USDC for ETH and mint LPT.
②: mint LPT with USDC.
③: borrow ETH and mint LPT.
④: borrow ETH and mint LPT.
⑤: borrow ETH, exchange it for USDC, and mint LPT.
⑥: borrow LPT, exchange ETH in LPT for USDC, and use the USDC as Margin for LPT.
⑦: borrow LPT and use the USDC in LPT as Margin.
⑧: borrow LPT and use the ETH in LPT as Margin.
Strangle/Spread Position

⑥ + ⑦: Simply combine ⑥ and ⑦. By having a range (described below), it will be close to the Predy v2 gamma long (Delta Neutral).
① + ⑧: By using ① as Margin for ⑧, the required margin can be minimized.
Borrow at ⑧ and burn.
Exchange USDC in for ETH.
Mint using ETH in ①.
as Margin for ⑧.
④ + ⑤:
Borrow at ⑤ and burn.
Exchange ETH in for USDC.
Mint using USDC in ④.
is used as Margin for ⑤.
Option Curve
By having a range, a gradual change in gamma can be achieved in ① ~ ⑧ above.

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