Market makers
Call tokens
Each call is an SPL token for one TSLAx at the round’s strike, settled in TSLAx against the close mark.
The token#
| Value | |
|---|---|
| Mint | One per round: the PDA ["options", round] |
| Program | SPL Token, 8 decimals |
| Unit | One call covers one TSLAx. One call atom covers one TSLAx atom. |
| Supply | Exactly the calls sold in that round’s auction |
| Transfers | Free once claimed: send, sell or hold in any wallet |
| Strike and expiry | Stored in the round account, not in the token |
Claiming a payout#
When the round is Settled or Closed, claim_option(quantity) burns that many calls and pays their share of the round’s reserve in TSLAx. You can claim all at once or in parts, at any time after settlement. Whoever holds the calls can claim; they don’t have to be the original bidder.
Payouts are computed on the running total of calls claimed, so claiming in many pieces adds up to exactly the reserve. The order of claims changes a holder’s payout by one TSLAx atom at most.
Out of the money#
If the close is at or below the strike, each call pays nothing. Burning expired calls through claim_option is optional; the app offers it to tidy your wallet.
If the mark fails#
If the round settles through the seven-day fallback, each call pays one whole TSLAx: the maximum it could have been worth. See Settlement price.