Getting Started

All the basics you need to start exploring DeOrderBook

On DeOrderBook, there are 4 main tokens that users would be interacting with:

  • $DOB, the native token of the platform

  • HODL tokens

    • $wBTC mints $bHODL tokens, and $USDC mints $uHODL tokens.

  • SNIPER tokens

    • Once a DeOrder is placed, $bHODL tokens generate $bSNIPER tokens, and $uHODL mints $uSNIPER tokens.

    • A matching amount of BULLET tokens encoded with the user's selected strike price and expiry are generated in tandem.

  • BULLET tokens

    • Once a DeOrder is placed, $bHODL tokens generate $bSNIPER tokens, and $uHODL mints $uSNIPER tokens.

    • $bHODL tokens generate $bBULLET tokens, and $uHODL mints$uBULLET tokens.

At launch, DeOrderBook supports $wBTC and $USDC on the Ethereum mainnet, with further coin support a key priority on the protocol's roadmap.

Intro to DeOrderBook

When placing a DeOrIn a nutshell, the HODL token collateral used to place a DeOrder will generate SNIPER tokens, through selecting a strike and expiry. SNIPER tokens will then be automatically staked into the relevant pool (with matching strike and expiry) to earn $DOB rewards continually until the maturity date is reached.

Meanwhile, DeOrders also generate BULLET tokens, but BULLET tokens are sent as rewards to those who have locked their $DOB. A fixed number of $DOB per day will be shared by all stakers within the pool, in proportion with their staking size.

Getting Started

To get started, users must first use their supported currencies (currently $wBTC and $USDC) to mint the associated HODL tokens ($bHODLand $uHODL). Minting is done at a 1:1 ratio with zero associated fees, besides gas.

Once a user has their HODL tokens in hand, they can choose to either to:

Direct Staking

Direct staking will allow for a basic APY to be earned, but this would typically be less than the potential APYs to be earned from using SNIPER tokens to perform the DeOrder action.

Placing a DeOrder involves minting HODL into SNIPER: choosing from a range of preset prices at which to mint, a range of expiry dates and an amount with which they want to DeOrder. The expiry date would determine the APY.

Throughout, users are rewarded with $DOB tokens, the native token of the platform that also functions as a governance token. $DOB tokens can be locked to receive a portion of BULLET rewards and rebates, with BULLET tokens able to be traded freely among users on the BULLET Marketplace. $DOB tokens may also be sold on PancakeSwap via the $DOB liquidity pool. Why use DeOrderBook?

DeOrderBook sets itself aside from the competition by being the first DeFi protocol that brings value from outside liquidity without relying on internal competition. Users will no longer be limited to the option of simplifying their most beloved cryptocurrencies while losing out on profiting from the exciting volatility of the markets.

DeOrderBook offers every user an absolutely secure way to participate in derivatives markets without needing deep financial engineering expertise and without risking their long-held bags.

What fees are associated with using DeOrderBook?

The DeOrderBook protocol aims to incentivize greater user adoption, charging no fees for minting HODL tokens from supported cryptos.

A 0.2% fee is collected by the protocol in the following 4 actions:

  • unlocking: combining SNIPER and BULLET tokens to early unwind calls and unlock HODL tokens

  • exercising: combining BULLET and HODL tokens to exercise calls and/or puts that are most likely in-the-money

  • collecting: using SNIPER tokens to collect HODL tokens whether or not calls/puts are or are not exercised

  • redeeming: rolling back HODL tokens to supported cryptos

Why join DeOrderBook's soft launch?

During DeOrderBook's soft launch, all functions will be available for new users to try out the protocol, hosted on the Goerli testnet. Yet upon the protocol's launch on the Ethereum mainnet, users will gain the most functionality from interacting with the protocol by purchasing an NFT from the dual-tier Gerege NFT program. This is in line DeOrderBook's core vision is to create an exclusive community centred around a gamified conceptionalization of the 'Trade to Earn' concept, with NFTs able to level up based on a ranking and levelling system.

Participation in the soft launch will allow users to understand the protocol at its deepest levels before making the decision whether or not to fully step into the DeOrderBook community by becoming an NFT holder.\