Example 1

A buyer holding a DeGods NFT is a bit worried about DeGods future and wants to be protected against massive price drop.

The put option buyer lists a new offer on Anture website including the following parameters.

• Option type: Put

• Underlying asset: DeGod NFT

• Strike price: 375 SOL

• Expiration: 30 days

• Premium: 37.5 SOL

• Collateral: Cash (375 SOL)

• Payoff: Cash (375 SOL)

• Claim condition: Selling a DeGod NFT

Once the buyer has listed his option on Anture website, other users (potential sellers) are able to make counter offers to challenge the parameters of the option (negotiating the strike price, the expiration, the premium, the collateral or even the payoff).

Once both the buyer and a seller have agreed on the option’s terms, a NFT is generated directly from Anture website to materialize the option contract. This NFT allows the buyer to sell a DeGod NFT for 375 SOL within the next 30 days (NFT is burnt once the option is activated or after the expiration date is reached). This NFT can be listed on secondary markets and will be burnt upon the put option activation by the owner or when the expiration date is reached.

Outcome 1

After 30 days, DeGods is still DeLaying its roadmap 2.0 reveal and floor price has dropped to 250 SOL.

The buyer, who has enough liquidity at this time, decides to buy a DeGod from secondary markets for 250 SOL and to activate his put option.

• Buyer has made 375 (DeGod sell/strike price) - 250 (DeGod buy price) - 37.5 (premium) = 87.5 SOL

• Seller has made 37.5 SOL (premium) and bought a DeGod for 375 SOL

Outcome 2

After 30 days, DeGods is still DeLaying its roadmap 2.0 reveal and floor price has dropped to 250 SOL.

The buyer, who doesn’t have enough liquidity at this time to buy a DeGod, decides to sell his option on the secondary markets for 50 SOL.

The new put option owner decides to buy a DeGod from secondary markets for 250 SOL and to activate his put option.

• Initial option buyer has made 50 (option secondary sell price) - 37.5 (premium) = 12.5 SOL

• New option owner has made 375 (DeGod sell/strike price) - 250 (DeGod buy price) - 50 (option secondary buy price) = 75 SOL

• Seller has made 37.5 SOL (premium) and bought a DeGod for 375 SOL

Outcome 3

After 25 days, DeGods has finally revealed its roadmap v2.0 and price has increased to 600 SOL.

Because the buyer doesn’t want to activate his right to sell a DeGod for 375 SOL (strike price is lower than the floor price of the collection), the option is expiring (the NFT materializing the option is then burnt and the collateralized DeGod is returned to the option seller).

• Buyer has lost 37.5 SOL (premium)

• Seller has made 37.5 SOL (premium)