Pricing and Fees
Passage controls the structure of the offers in terms of:
The term in seconds from the time of purchase (e.g. 2 days of time from the second of purchase until expiration)
The multiple being offered, e.g. 2x (100% max profit)
The assets allowed as we only allow assets that have high-quality on-chain oracles
The protocol calculates payoffs based on the time in the channel as a fraction of the total term and multiplies it by the premium paid and leverage ratio to deliver the payout. Fees: Passage generates revenue by charging fees on the total invested into each side of the "stay in" or "breakout" side:
Contract purchased tiered based on trading volume:
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