Smilee protocol is based on two main contracts:

  1. Decentralized Volatility Products (DVPs).

  2. Earn Vaults.

At the smart contract level, the Earn Vault is simply called Vault.

Both DVPs and Earn Vaults are defined by:

  • A Reference Token (e.g. ETH, wBTC, …)

  • A Maturity Frequency (e.g. daily, weekly, …)

Impermanent Gain DVP

DVPs are smart contract that can replicate any kind of volatility payoff.

At the smart contract level, Impermanent Gain is an instance of the DVP.

DVPs are used to mint and trade Impermanent Gain Options, which can be either IG Bull or IG Bear and are represented by ERC721 Tokens.

Impermanent Gain Smile is obtained by purchasing both IG Bull and IG Bear.

To know more about Impermanent Gain Bull, Bear, or Smile please refer to the Trade Section.

Last updated