NFT Call Options

📈 The first NFT options trading smart contract

Web Interface (Work In Progress): https://nft-call-options.vercel.app/

Features

• Users can offer to buy call options for any NFT in a collection
• Users can sell covered call options against NFTs they own by accepting offers
• The smart contract is immutable and has no ownership mechanism

Tech Stack

• Contracts
  • Solidity v0.8.15 - for writing smart contracts
  • Foundry/Forge - for tests/builds
    • Based on foundry-rs/forge-template
• Web Interface (in interface/)
  • Next.js - for the web framework
  • MUI - for styles
  • Ethers.js - for interacting with the blockchain
  • wagmi - for accessing providers
  • RainbowKit - for connecting wallets

Roadmap

See docs/roadmap.md for a list of existing and planned features.

Description of Smart Contract Logic

• User A can offer to buy a call option for an NFT
  • User A selects a collection to buy a call on
    • The floor price is an important metric here because any NFT from the collection can be used in this transaction
  • User A selects a strike price (in Ether)
  • User A selects a expiration time (in a Unix timestamp)
  • User A selects an amount of premium to pay (in Ether)
    • User A pays the premium upfront to prevent order spoofing
    • Their premium is held in the contract until the offer is cancelled or the offer is accepted
• User B can accept User A's offer by selling a covered call against an NFT that they own
  • User B uses their NFT as collateral, and receives the premium
    • User B's NFT can be any NFT in the collection chosen by User A
  • The NFT is locked up until the expiration time
    • Before the expiration time, User A can pay the strike price in for the NFT
    • After the expiration time, User B can withdraw their NFT if it wasn't bought

Development

This project uses Foundry. See the book for instructions on how to install and use Foundry.

• Core contracts are in src/
  • Build contracts with forge build
• Tests are in test/
  • Run tests with forge test