What is Putty Finance? Putty Finance is a decentralized Peer to Peer options marketplace for NFTs on the Ethereum and Optimism ecosystems. Let’s find out what is special about this project with Weakhand in this article.
Before jumping into the article, everyone can learn about Hook Protocol through the following article to better understand the Options market for NFTs.
What is Putty Finance?
Overview of Putty Finance
Putty Finance is a decentralized Peer to Peer options marketplace for NFTs on the Ethereum and Optimism ecosystems. Users can create Limit Order Long/Short orders for both Call Option and Put Option on a single asset or basket of assets.
Putty Finance was founded in early 2022 and aims to become an options trading platform Over the Counter (OTC) a first for NFTs.
To create an options contract on Putty Finance, users need to fill in some information such as: Option name (Call/Put Option), order name (Long for buy orders and Short for sell orders), exercise price, fee insurance and implementation period. After that, Putty Finance will mint an NFT called OPUT – an NFT containing information about the user’s open positions.
Putty Finance’s operating mechanism
Putty Finance’s operating model takes place according to the following steps:
Step 1: The option buyer (NFT Seller) exercises the option and sells his NFT to the option writer.
Step 2: If the option is not exercised, the option seller (the NFT owner) keeps the NFT.
In other words, using Putty Finance users can sell their NFTs using auctions for a certain period of time and to use auctions users have to pay. The option writer receives a premium from the NFT seller.
What is the difference between Putty Finance?
Putty Finance allows users to create and open multiple options positions at the same time. This helps users have many different methods to make profits in the market.
Currently, Putty Finance is developing a protocol called Cally Finance. Call Finance is creating structured products with the first being Call Vaults. This protocol is expected to bring simple yet effective strategies to users of all platforms, thus bringing more convenience to the Putty Finance ecosystem by making it accessible to users who do not know much about Crypto. closer to the foundation.
Core Team
Putty Finance is developed by tamagoyaki and out.eth.
Investor
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Tokenomics
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Information Channel of Putty Finance Project
- Website: https://www.putty.finance/
- Twitter: https://twitter.com/puttyfi
- Medium:
summary
Putty Finance is one of the first projects to lay the foundation for the NFT Options market. Hopefully the information I have provided in this article has helped people have interesting perspectives on Putty Finance.