Reference
FAQ
Short answers, with links to the full ones.
Is there a fee?#
The program charges none. You pay Solana transaction fees and rent for the accounts your first actions create.
Is there a Shear token?#
Yes, SHEAR. The whole supply goes into one public launch on the same terms for everyone. Holders vote on bidder approvals, the market calendar and program upgrades, and a stake lets a market maker bid without a vote. It adds no fee. See SHEAR token.
Can I withdraw at any time?#
Between rounds, yes, in one transaction. During a round your withdrawal is queued and paid after the round settles, so it can take up to a week. See Deposits and withdrawals.
When is premium paid?#
It is credited to your shares when the Monday auction is finalized, a few minutes after the open. Collect it whenever you like; it doesn’t expire.
Can I lose TSLAx?#
Yes. When the close is above the strike, part of the round’s TSLAx goes to the call holders, and the TSLAx you keep is worth the strike. In the fallback, all TSLAx behind the sold calls goes to them. See Settlement and payout.
Why is my deposit queued?#
A round is running. The vault’s TSLAx backs the calls sold this week, so new TSLAx joins after they settle, at that round’s settlement ratio.
Why can’t I deposit or withdraw right now?#
The round has settled and its tickets are being processed, or the round is disputed. Requests open again when the round closes.
Where are my shares?#
In a share account the program controls for your position. The app shows them; your wallet won’t list them as a token.
Which wallets work?#
Browser wallets that support Wallet Standard and can sign Solana transactions, such as Phantom, Solflare and Backpack.
Who can bid for the calls?#
Wallets the vault admin has approved, and wallets that lock the bidder stake. See Bidding.
What if no one bids?#
No calls are sold, the round settles straight away, and the vault keeps all its upside that week with no premium.
Do I have to do anything on Friday?#
No. Depositors don’t act at expiry. Call holders claim their payout whenever they like after settlement.