Proceeds distribution
When the settlement auction results in a successful sale, the proceeds can be distributed or claimed by protocol users. When the option expires in the money, the option ERC-721 serves as a claim token to the user's proceeds until it is burned.
To settle the option, call settleOption(uint256 optionId)
. This method:
- distributes the strike price to the option writer only if they're not the high bidder
- marks the option as settled
- distributes the spread of high bid - strike to the option holder if they're the caller (otherwise they need to later call the
claimOptionProceeds
method) - emits an event to the settlement can be indexed
If the option is settled and the option holder needs to withdraw their proceeds, they should call claimOptionProceeds(uint256 optionId)
. This method:
- distributes their proceeds
- marks the proceeds as claimed
- emits a message indicating that they've been claimed
- burns the option ERC-721 to ensure that its not mistakenly purchased by another user
Updated about 1 year ago