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Exercising DeOrders with BULLETs
Exercise call options before they reach maturity
BULLET holders may choose to exercise DeOrders that have reached maturity and reached the chosen strike price.
In order to exercise a DeOrder, you will need:
- the correct amount of BULLET tokens with matching strike price and expiry parameters to the DeOrder you wish to exercise
- the amount of HODL tokens that match the chosen strike price o the DeOrder
- 1.Visit the DeOrderBook website at www.deorderbook.com .
- 2.Connect your supported wallet to the platform. At the time of writing, DeOrderBook supports Metamask, and Wallet Connect. For ease of explanation, this tutorial will use Metamask.
- 3.
- 4.Scroll down to find the BULLET tokens that you want to exercise. Ensure that you have the required collateral to match the strike price encoded in the BULLET tokens.
- 5.Upon selecting the BULLET tokens you want to exercise, you'll be faced with a pop-up prompting you to select the number of HODL tokens you want to use to exercise.
You'll need to approve your wallet using your HODL tokens
Click 'Allow DeOrderBook to use your HODL' and wait for the transaction to be approved through Metamask.
- 6.A success message will appear once the HODL tokens have been approved for use. Select the amount you'd like to use to exercise the BULLET tokens.
Make sure you have enough HODL, or you'll be prompted to mint more from supported collateral before continuing
The 'Exercise' button will turn blue once you're all set. Click it and exercise those BULLET tokens!
BULLET tokens can be exercised: make sure you have the correct amount of HODL tokens needed or easily mint more before exercise.