@agoric/zoe/src/contracts/callSpread/pricedCallSpread.d.ts

Zoe: the Smart Contract Framework for Offer Enforcement

/**
 * This contract implements a fully collateralized call spread. This is a
 * combination of a call option bought at one strike price and a second call
 * option sold at a higher price. The invitations are produced in pairs. The
 * creatorFacet has a method makeInvitationPair(longCollateralShare) whose
 * argument must be a number between 0 and 100. makeInvitationPair() returns two
 * invitations which require depositing amounts summing to the settlement amount
 * in the proportions longCollateralShare and (100 - longCollateralShare) to
 * redeem the respective options/invitations. (They are returned under the
 * Keyword 'Option'.) The options are ERTP invitations that are suitable for
 * resale.
 *
 * This option contract is settled financially. There is no requirement that the
 * creator have ownership of the underlying asset at the start, and
 * the beneficiaries shouldn't expect to take delivery at closing.
 *
 * The issuerKeywordRecord specifies the issuers for three keywords: Underlying,
 * Strike, and Collateral. The payout is in Collateral. Strike amounts are used
 * for the price oracle's quotes as to the value of the Underlying, as well as
 * the strike prices in the terms.
 *
 * terms include:
 * `timer` is a timer, and must be recognized by `priceAuthority`.
 * `expiration` is a time recognized by the `timer`.
 * `underlyingAmount` is passed to `priceAuthority`. It could be an NFT or a
 *   fungible amount.
 * `strikePrice2` must be greater than `strikePrice1`.
 * `settlementAmount` is the amount deposited by the funder and split between
 *   the holders of the options. It uses Collateral.
 * `priceAuthority` is an oracle that has a timer so it can respond to requests
 *   for prices as of a stated time. After the deadline, it will issue a
 *   PriceQuote giving the value of the underlying asset in the strike currency.
 *
 * Future enhancements:
 * + issue multiple option pairs with the same expiration from a single instance
 *
 * @param {ZCF<{
 * strikePrice1: Amount<'nat'>,
 * strikePrice2: Amount<'nat'>,
 * settlementAmount: Amount<'nat'>,
 * priceAuthority: PriceAuthority,
 * expiration: bigint,
 * underlyingAmount: Amount<'nat'>,
 * }>} zcf
 */
export function start(zcf: ZCF<{
    strikePrice1: Amount<"nat">;
    strikePrice2: Amount<"nat">;
    settlementAmount: Amount<"nat">;
    priceAuthority: PriceAuthority;
    expiration: bigint;
    underlyingAmount: Amount<"nat">;
}>): {
    creatorFacet: {
        makeInvitationPair: (longCollateralShare: any) => {
            longInvitation: Promise<globalThis.Invitation<unknown, never>>;
            shortInvitation: Promise<globalThis.Invitation<unknown, never>>;
        };
    } & RemotableObject<`Alleged: ${string}`> & import("@endo/eventual-send").RemotableBrand<{}, {
        makeInvitationPair: (longCollateralShare: any) => {
            longInvitation: Promise<globalThis.Invitation<unknown, never>>;
            shortInvitation: Promise<globalThis.Invitation<unknown, never>>;
        };
    }>;
};
import type { PriceAuthority } from '@agoric/zoe/tools/types.js';
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