Call Desk

How Call Desk settles a covered call.

A writer locks an ERC-20 Stock Token. A buyer pays a fixed premium for the right to purchase that collateral at a fixed USDG strike before expiry.

Lifecycle

  1. Create. The writer approves and deposits the exact collateral amount, then records the premium, strike, expiry and optional eligible buyer.
  2. Purchase. The buyer transfers the premium to the writer. The buyer address becomes the only address that can exercise.
  3. Exercise or reclaim. Before expiry, the buyer transfers the strike to the writer and receives the collateral. After expiry, the writer reclaims the collateral.

Contract states

An offer can be Open, Purchased, Exercised, Reclaimed or Cancelled. A purchased offer cannot be cancelled. An exercised or reclaimed offer cannot be settled again.

Token handling

Call Desk uses exact-balance checks and rejects fee-on-transfer behavior. Stock Tokens use 18 decimals. USDG uses 6 decimals. Mainnet asset addresses are activated only during the mainnet deployment.

Terms and risks

The writer gives up the collateral if the buyer exercises and may miss gains above the strike. The buyer can lose the full premium if the call expires unexercised. Token liquidity, issuer restrictions, corporate actions and smart-contract risk remain relevant. The contract is unaudited.

Current deployment

The public application currently uses Robinhood Chain Testnet and test-only tSTOCK and tUSDG assets. The interface links every confirmed transaction to the testnet explorer.

Open application