FAQ - Frequently Asked Questions
What are OPerps tokens, i.e. LCO/SPO etc? How much does it cost?
OPerps tokens are ERC-20 tokens representing Perpetual Option positions. Each OPerp token is equivalent to $1 or 1 USDC. For further details, please refer to "Types of OPerps."
What is a Cycle in OPerps?
A cycle in OPerps lasts 1 hour and runs 24 times every day, allowing you to enter or exit positions at the cycle's beginning or end. Settlement occurs at the end of every cycle.
What is the Premium in OPerps? Is it fixed?
Long OPerps holders pay a fixed premium of 50% to Short OPerps holders every cycle. This premium provides leveraged exposure to desired price movement in the underlying asset. Long CALL OPerps offer leveraged exposure to rising markets, while Short CALL OPerps offer leveraged exposure to falling markets.
How much do Short OPerps holders pay to Long OPerps holders for market movement?
Short OPerps holders pay an amount equal to the percentage change in the underlying asset (rise for CALL and fall for PUT) to Long OPerps holders. For instance, if there's a 2% market decline, 2% of the Short PUT OPerps tokens are transferred to the Long PUT OPerps pool and distributed proportionally among Long PUT OPerps holders.
What is Last Hour's Return?
Last Hour's Return is the average return that Long/Short OPerps holders earned in the last 12 cycles of OPerps trading, respectively.
What is the Break-even Price?
For Long OPerps, it's the underlying price where the premium paid equals the payoff received. For Short OPerps, it's the underlying price where the premium received equals the payoff paid.
Not sure how much to buy?
We offer a virtual PnL simulator where you can compute your expected profit or loss based on your investment value and expected change in the underlying price, if you plan to participate in the upcoming cycle.
What about fees?
Long OPerps holders pay a 5% fee for all buy transactions. Short OPerps holders don't pay any fees. Redeem/Withdrawal is free for all users.
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