What is an Opportunity option?
An Opportunity v1 option gives its holder the right to exchange a fixed amount of one ERC-20 token for a fixed amount of another before expiry.
The two roles
The issuer deposits the collateral and creates the option. The issuer's address remains fixed and receives the payment if the option is exercised.
The holder owns the ERC-721 NFT representing the exercise right. The issuer receives this NFT at creation; transferring it changes the holder, without changing the issuer or option terms.
The fixed terms
Each option records a collateral token and amount, a different payment token and amount, and an expiry timestamp. A separate escrow holds the collateral for that option.
For example, suppose an option fixes 10 units of collateral token A against 25 units of payment token B. Before expiry, a holder other than the issuer can pay the fixed B amount and receive the fixed A amount. This example illustrates the exchange only; it does not estimate token prices or an option's value.
The contract stores amounts in raw token units. Decimal formatting and reference prices do not change the contractual exchange.
The exercise right can move
Transferring the NFT transfers the right to exercise. It does not transfer the issuer's obligations or refund rights. The issuer can cancel before expiry only while also holding the NFT.
Continue with the lifecycle or reading the terms.