LINK MARINES

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So fucking unclear . Amateurs

Link above $5? One trade? Ok if it dumps back? Which exchange... Etc etc

read this
>Which exchange... Etc etc
blog.synthetix.io/chainlink-decentralizes-first-wave-of-synthetix-price-feeds/

coindesk.com/the-founders-of-synthetix-and-chainlink-on-defi-derivatives-and-25-new-decentralized-price-feeds

This is extremely cool and I had no idea it existed. Thank you based OP.

I will not be participating in this one, because i honestly don't think LINK will be over $5 in 5 days
But I would be extremely tempted to go big on a "LINK will be >$50 in 1 year" option

I'm tempted, but It's a true gamble whether this will give us the momentum to pump over the $5 resistance.

synthetix.exchange/#/options/0xd6f36570eead0f7aea0cf655eea47cfafd5000a9

theres this one but its set for 1k

I believe anyone with at least 1k sUSD can create an options market, so maybe we'll see someone create one thats a bit more realistic

np, it just launched a few days ago. definitely a good usecase for chainlink and sort of proves why its useful. they plan to expand to other traditional investment vehicles like stocks etc but only after full decentralization

if you're really confident in that position, you could take the opposite side of the option too. if that were to settle at the current bidding rate then it would be 30% payout

I have a question similar to this post

If LINK were to go to $5.01 on the 8th , this price lasts long enough for an Oracle to feed it into the contract, then it dumped back to $4.95 by the close of the day - what would happen?

Would those who bet on it going above $5 receive the payout, or not?

I believe its based on the strike price at the exact time of the maturity phase start - so 12:00 am on the dot on the 8th (whatever timezone is used). this is a very good question though

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Interesting.

It keeps running up to the day before though, so if LINK does break 5 before the 8th (I think likely), most of the opposing side will just withdraw.

Winnings won't be that high.

How can you determine it's 3x?

payout is determined by the ratio between the two options at the end of the bidding phase. currently its 70% short / 30% long. when the option matures one side will settle for $1 each and the other settles for 0.

withdrawal fees during the bidding phase are 5%, so it will cut down on that a bit. iirc they go back to the pool. its true that the potential payout can shift though, I should have made that more clear. I saw this while looking for usecases for chainlink that are on mainnet and got a little too excited

they should allow to make separate pools (set for the same date) on a day to day basis, that could be more interesting

and then disallow withdrawal after the day is finished.

$4.84 best I can do

I've been looking into this more and it looks like there is risk free money associated with creating an option. Market maker takes a portion of the fees that option generates

So if i were to get 1k sUSD and then create an option that got wildly popular, I would be reaping free money from all the fees.
Do you have any idea if the market maker gets a cut of the 5% withdraw fee? I can see that when the "market reaches the Maturity phase. 0.2% goes to the market creator, and 0.8% goes to SNX stakers "

I'm curious if the market creator also gets a cut of all withdraw fees. Can't find details in the SNX articles

If it is hovering over 4.80 on the 7th then the talk with IWA will guarantee link over $5

>Link pumping after news
This hasn't happened in forever.

Dump on the news