Overview

Smilee protocol is based on four majors components:

1. Decentralized Volatility Products (DVPs): Mint Impermanent Gain Options and, in the future, other volatity products.
2. Earn Vaults: Provide the liquidity needed to mint & trade Impermament Gain Options.
3. Liquidity-to-Volatility Engine: Connects the Earn Vaults with Impermanent Gain Vaults—converting the former liquidity into Impermanent Gain Options.

4. Synthetic AMM: Enables buying & selling of Impermanent Gain Options.