SPO

Short PUT OPerps a.k.a. SPO tokens represent selling of PUT options and are profitable in neutral or rising markets. SPO holders receive premium from LPO holders in every settlement cycle in return for enabling leveraged exposure to price fall for LPO holders. In following example, SPO holders make 0.5% profit in just 5 minutes*.

Token holdings are automatically rolled over to the next cycle unless sold

Variable Name	Value
Long PUT OPerps Token Supply	100
Short PUT OPerps Token Supply	10000
Leverage	100
Premium (per cycle)	50%*
Cycle Duration	5 minutes*
Underlying Price Change	+ve

50 (50% of LPO supply i.e. 100) Tokens are transferred from LPO to SPO pool as Premium. No Tokens are transferred from SPO to LPO pool because market didn't fall duting the cycle.

SPO holders gain 0.5% in just 5 minutes*

Premium and cycle duration values used in this example are meant for our Arbitrum products. On Binance chain, these values are different.