Buyer-chosen terms

Problem

Businesses have different invoice dates, sizes and risk tolerances. Pools with one fixed strike and expiry fit few buyers and fragment liquidity into many small pools.

Approach

A pool defines ranges: tenors with markups, permitted structures, limit distances and the closest strike. The buyer chooses exact terms inside them, and each purchase is priced individually by the engine.

Why

• One pool serves many buyers.
• Pricing follows the exact risk of each contract (Premium calculation).
• Creators control risk through ranges instead of picking a single product.

Trade-offs

• Pricing depends on the off-chain engine for every purchase. See Signed quotes.
• A pool's risk is a mix of many strikes and expiries, which is harder to read than one product. The app's risk views summarise it.