Smilee protocol is based on four majors components:
  1. 1.
    Decentralized Volatility Products (DVPs): Mint Impermanent Gain Options and, in future, other volatity products.
  2. 2.
    Earn Vaults: Provide the liquidity needed to mint & trade Impermament Gain Options.
  3. 3.
    Liquidity-to-Volatility Engine: Connects the Earn Vaults with Impermanent Gain Vaults—converting the former liquidity into Impermanent Gain Options.
  4. 4.
    Synthetic AMM: Enables buying & selling of Impermanent Gain Options.