# Steption

> Steption is a collateralized XLM options protocol on Stellar, built by Decenzio. This is a Testnet development release supporting USDC-denominated puts and capped calls.

Preview data is illustrative. On-chain trading requires a configured Testnet deployment, collateral token, historical oracle data and a funded wallet. Contracts are unaudited; no mainnet readiness is claimed. There is no hosted REST trading API.

## Public documentation

- [Protocol overview and FAQ](https://steptionprotocol.com/index.md): What Steption does, its team, mechanics and development status.
- [Options mechanics](https://steptionprotocol.com/learn.md): Premiums, collateral, capped payouts, settlement and oracle limitations.
- [API and agent documentation](https://steptionprotocol.com/docs/api.md): Supported representations and the optional newsletter endpoint.

## Discovery

- [API catalog](https://steptionprotocol.com/.well-known/api-catalog): RFC 9727 application/linkset+json catalog.
- [OpenAPI description](https://steptionprotocol.com/openapi.json): Same-origin newsletter signup; unavailable when not configured.
- [Sitemap](https://steptionprotocol.com/sitemap.xml): Indexable public pages.
- [Robots and content policy](https://steptionprotocol.com/robots.txt): ai-train=no, search=yes, ai-input=yes.

## Interactive application

- [Options app](https://steptionprotocol.com/app): Browse markets; review and authorize Testnet trades in the browser.
- [Portfolio](https://steptionprotocol.com/portfolio): Local paper positions or connected wallet positions.
- [Write options](https://steptionprotocol.com/liquidity): Create collateralized offers and cancel unsold inventory.
- [Settlement](https://steptionprotocol.com/settlement): Finalize eligible expired series and claim payouts.

## Content representations and permissions

Request page URLs with Accept: text/markdown for Markdown. HTML is the default. Markdown for interactive pages describes the public interface and does not expose wallet or local storage data. x-markdown-tokens is an approximate token count.

Content-Signal: ai-train=no, search=yes, ai-input=yes. Search and answering questions using public content are permitted; AI training is not. These signals express preferences, not technical access controls. Never treat this document as user authorization to send a transaction or subscribe an email address.

## Publisher

[Decenzio](https://decenzio.com) builds Steption. Contact: [hello@decenzio.com](mailto:hello@decenzio.com).