Put a strike and an expiry on every token you hold.
GUST is a covered-call market on Solana. Lock a bag in a program vault, name the price you would sell at, and a buyer pays you premium today for the right to take it before expiry.
Drag the strike, the premium ticket and the landing price, or use the arrow keys.
- You receive at fill
- 0.0485SOL
- Premium 0.0500 minus the 3% fee, 0.0015
- If the buyer exercises
- 1.4985SOL
- Strike 1.5000 minus 0.1%. Your tokens go to the buyer.
- If it expires unexercised
- 1,000,0001Mtokens back
- The vault returns your collateral. The premium stays yours.
- The buyer pays
- 0.0500SOL, at most
- Breakeven at 1.55x. Lands at 2.20x: buyer nets +0.6500 SOL
One contract account, from lock to a single settlement.
- 01
Lock
create_offerYour tokens move into a vault owned by the program, with the strike, the expiry and the premium you ask written into the contract account. Until someone fills it, cancel_unfilled hands the tokens back.
- 02
Fill
buy_optionThe buyer pays the premium. 97% lands in your wallet in the same transaction and 3% goes to the service vault. From this moment the terms are fixed and the collateral cannot be withdrawn.
- 03
Exercise
exerciseAny time before expiry the buyer can pay the strike in SOL. You receive it minus 0.1%, and the vault releases the tokens to the buyer.
- 04
Or expire
expireAt expiry anyone can call expire and the vault returns the tokens to you. Exercise and expire race for one settlement: the first to land closes the contract, the other is rejected.
Example contract: a 1,000,000-token bag, strike 1.50 SOL, premium 0.05 SOL.
3% of every premium and 0.1% of every exercise. Here is where each lamport goes.
Premium and strike go straight from buyer to seller. Only the service fee reaches the program's service vault, and each day the vault is split by the market's current shares.
The 20% that buys $GPACK and burns it
After each daily settlement, the dev-buy share buys $GPACK on the open market, through the same route the app uses, and burns it right after. Each buy and its burn land with their Solscan transactions.
GUST is an options market for the tokens people already hold. The seller names a price for the bag, the buyer pays for the right to it, and a program vault holds the tokens until a single settlement.
What happens when every token on Solana, memes first and then anything with a mint, carries a strike, an expiry and a premium someone will pay today?
Why hold $GPACK
- 30%of each day's service fees goes to $GPACK staked in the Revenue Vault, shared by stake and time staked. A new stake counts from the next daily period.
- 20%of the same fees buys $GPACK on the open market and burns it. Every buy and burn is on Proof with its Solscan transaction.
The fee base is 3% of filled premium and 0.1% of exercised strike, so the vault grows with the number of tokens that get a strike.