PUT

Set Up

Variable Name	Value
Long OPerps Token Supply	100
Short OPerps Token Supply	1000
Premium (per cycle)	3%
Cycle Duration	2 hours

Scenario 1: Market falls 1% during the cycle

Long OPerps pool pays 3 tokens (3% of 100) as Premium and Short OPerps pool pays 10 tokens (1% of 1000) as payoff for market movement.

During market fall LO tokens earn from SO holders. LO holders pay the premium every cycle, irrespective of market movement.

Scenario 2: Market falls 1.5% during the cycle

Long OPerps pool pays 3 tokens (3% of 100) as Premium and Short OPerps pool pays 15 tokens (1.5% of 1000) as payoff for market movement.

Scenario 3: Market remains neutral or rises

Long OPerps pool pays 3 tokens (3% of 100) as Premium and Short OPerps pool pay nothing.

Special Cases

Scenario 4: Market falls more than 2.5% in 30 minutes.

As explained in Settlement section, the payoff will be capped at 2.5%

Long OPerps pool pays 3 tokens (3% of 100) as Premium and Short OPerps pool pays 25 tokens (2.5% of 1000) as payoff for market movement.