Choose your direction
A put pays when XLM falls below your strike. A capped call pays when XLM rises above your strike, up to a stated cap.
STELLAR OPTIONS PROTOCOL
Understand your options
A clear view of how Steption works.
Built on Stellar
Know your maximum loss
Buyers pay a fixed premium. That premium is the maximum option loss, plus any network fees. Writers reserve the maximum gross payout upfront.
Settle at expiry
European options settle after expiry. Three fixed historical XLM/USDC oracle prices determine the median. A late settlement call does not change the observation times.
The details that matter
Can I close or transfer my option?
This testnet version uses nontransferable positions. There is no secondary market or early exercise. Writers may cancel only unsold inventory.
What if the oracle is unavailable?
Settlement waits for the exact historical observations. The contract never substitutes a later price. If the oracle permanently loses the required history, claims may remain locked; this requires resolution before a production release.
Are the sample numbers live?
Preview mode contains illustrative inventory and premiums. Paper trades are stored only in this browser. Testnet mode reads the configured contract and reports RPC failures without switching to sample data.
How are dollars and USDC related?
Strikes and collateral are denominated in USDC. Settlement divides XLM/USD by USDC/USD from the same fixed oracle timestamps, so the contract does not assume that USDC always equals one dollar.
Is this ready for real funds?
This is a testnet development release. Its custom options contracts require independent review and an audit before any mainnet deployment.