Channel is a new leveraged volatility product that accrues value based on the amount of time spent in the range until first breach or term expiry. Channels are designed for all volatility conditions but are especially ideal for low volatility conditions


Channels start in-the-money and accrue value over time


Channels have leveraged returns based on time in the range

As opposed to brackets where the spot price has to increase to get into the claimable range, channels already start in-the-money and accrue value over time

Buy a channel if you think you can stay in the range for the term and invest up to the max available amount. The channel will payout based on the fraction of time in the channel until first breach or term expiry


Fund channels, collect premiums


Fund channels to collect premiums

Funders can write offers for available channels. As a funder, select the width of the channel where you can meet, beat or enter a custom value. USDC will be used as collateral and is only locked when the channel is purchased

Eliminates excessive collateral requirements
Eliminates unbounded losses
Manage channel widths to control risk

Let's check out an example

Below we illustrate purchasing $250 of a 3-day 6x ETH channel when ETH's spot price is $1,207.99

The spot price of ETH must stay between the low price, $1,110.85 and the high price $1,304.04 for 3 days in order to make the full 6x. The channel will start accruing immediately from purchase. Your initial investment is paid back over the term until the spot price of ETH breaks out of the channel for the first time or the maximum 3-day term is reached. Max buy is the maximum that can be bought in one transaction and cumulative max is the total that can be bought over multiple buys. The widest channel (best deal) will be made available up to the max buy, followed by narrower channels that are available