Request a quote
A quote is the protocol's price for the exact contract you describe, held for a short time so you can accept it.
What you provide
| Market | Pair and direction |
| Amount to protect | Notional, at least 10 USDC |
| Length | One of the tenors on sale |
| Strike | As a rate or a percentage from today's rate |
| Structure and limit | Limited with your limit, or Open |
What the protocol does
- Takes today's rate for the pair.
- Finds every pool that sells your direction and tenor, offers your structure, and allows your strike distance.
- Prices the contract. The pricing engine calculates a fair price for your exact terms. Each pool applies its own markup for your tenor.
- Chooses the cheapest pool that can hold the full reserve. If the cheapest cannot, it tries the next.
- Signs the quote. The quote records the pool, the terms, today's rate, the price and the most you will be charged.
What you see
- Premium and platform fee, and their total: everything you will pay.
- Maximum payout: what the contract pays at or beyond the limit.
- Expiry: purchase time plus the tenor.
How long it is valid
A quote is valid for 120 seconds and can be used once. After that, select Refresh price for a new one. The new price may differ because today's rate has moved.
The terms become binding only when you confirm and your purchase is recorded. Until then, nothing is charged and nothing is reserved.
When there is no quote
| Message | Meaning | What to do |
|---|---|---|
| No pool is offering this protection | No pool sells that length or structure in that direction | Choose another length or structure |
| Protection must start at least X% from today's rate | Your strike is closer to today's rate than every pool allows | Move the strike further away |
| Not enough free liquidity | The reserve is larger than the free capital | Reduce the amount or narrow the limit |
| Quote rejected by the pricing engine | The contract would be priced far too cheaply or too expensively for what it pays | Move the strike closer to today's rate, narrow the limit, or change the length |
| No live rate | The market data feed has no current rate for the pair | Try again in a few minutes |