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Option Settlement Smart Contract Project

Soroban Option Project for SCF#13 and #15

Our SCF#13 submission is a three-part project. DISCLAIMER: This is a proof of concept project and should NOT be used in production!! Please see our complete disclaimer below.

Project is current and locked to Preview 9

The details of each piece of the project are described below. We will be integrating these as they mature into our BTF platform. The platform itself is used by businesses that are regulated and need regulatory and compliance reports, processes, and workflows.

Please see our website at blocktimefinancial.com for more information and solutions.

Option Smart Contract

Current ContractId: e94760e06da32836fe8dcc71e7b33db0c5297a8b86ee2db0e23ea5e612353b19

As StrKey: CDUUOYHANWRSQNX6RXGHDZ5THWYMKKL2RODO4LNQ4I7KLZQSGU5RSWB3

USDC Token (Wrapped Stellar Classic Asset) used for collateral

Current ContractId: (SAC Token ID): a95bdc05cf685ab4379aca06e3acdb9dc7d7ac869e199d617d60b2a9ba067db5

As StrKey: CCUVXXAFZ5UFVNBXTLFANY5M3OO4PV5MQ2PBTHLBPVQLFKN2AZ63KERY

Contract Name: USDC:GBL74ETHLQJQUQW7YQT4KO3HJVR74TIHSBW6ENRBSFHUTATBRKKLGW4Y

Contract Symbol: USDC

What it does

The option smart contract is the "clearing corp" in this use case. Option trades are submitted to the smart contract. Currently, the smart contract ONLY provides settlement services for option contracts and spreads that have limited risk. It does NOT have any provisions for liquidation based on risk. In a nutshell, when two parties agree on an option trade, both sides can submit the trade details to the smart contract along with the needed deposit for settlement. Each party can then monitor the option trade, and it is constantly "marked-to-market" via input from the pricing Oracle smart contract. When the option expiry date has passed, each party may remove any remaining deposit based on the final settlement price from the oracle. The token used for collateral is the USDC we issued on FutureNet. To make it into a Soroban token, we used the SAC token contract to "wrap" the classic Stellar asset. For instructions on how to do this, please see Esteblock's Token Playground

Cmd to initialize the option contract

soroban contract invoke --id e94760e06da32836fe8dcc71e7b33db0c5297a8b86ee2db0e23ea5e612353b19 --sourc
e SCIGOGUPFOZSEBVZBEF3BJL6SZGVSFYANQ6BZE6PTTQ7S4YXYDPY4JHL --rpc-url https://rpc-futurenet.stellar.org:443 --network-p
assphrase 'Test SDF Future Network ; October 2022' -- init

Cmd to list an option contract

soroban contract invoke --id e94760e06da32836fe8dcc71e7b33db0c5297a8b86ee2db0e23ea5e612353b19 --source SCIGOGUPFOZSEBVZBEF3BJL6SZGVSFYANQ6BZE6PTTQ7S4YXYDPY4JHL --rpc-url https://rpc-futurenet.stellar.org:443 --network-passphrase 'Test SDF Future Network ; October 2022' -- list --opt_type 10 --strike 100 --exp 168782113900 --oracle CDQ7O4YTO46Y4QUYG3AIBZKHBPP3FDZU6M4EPATWAGYMKQFM4EE37UL6 --token CCUVXXAFZ5UFVNBXTLFANY5M3OO4PV5MQ2PBTHLBPVQLFKN2AZ63KERY 
--admin GDZ4CDLVSHQIAXRBTPHTPJ5MSCC6XO4R4IXRGRQ6VOVV2H2HFSQJHRYH

Cmd to update the option contract from oracle

soroban contract invoke --id e94760e06da32836fe8dcc71e7b33db0c5297a8b86ee2db0e23ea5e612353b19 --source SCIGOGUPFOZSEBVZBEF3BJL6SZGVSFYANQ6BZE6PTTQ7S4YXYDPY4JHL --rpc-url https://rpc-futurenet.stellar.org:443 --network-passphrase 'Test SDF Future Network ; October 2022' -- upd_px

Oracle Smart Contract

Current ContractId: e1f77313773d8e429836c080e5470bdfb28f34f33847827601b0c540ace109bf

As a StrKey: CDQ7O4YTO46Y4QUYG3AIBZKHBPP3FDZU6M4EPATWAGYMKQFM4EE37UL6

What it does

The Oracle smart contract acts as the source of truth for pricing. Other smart contracts that trust this oracle can query it for prices. Its "truthy ness" is only based on the inputs and the trustworthiness of the implementor.

Soroban-CLI

Cmd to retrieve a price

soroban contract invoke --id e1f77313773d8e429836c080e5470bdfb28f34f33847827601b0c540ace109bf \
--rpc-url https://rpc-futurenet.stellar.org:443/ --network-passphrase 'Test SDF Future Network ; October 2022' \
--source SCIGOGUPFOZSEBVZBEF3BJL6SZGVSFYANQ6BZE6PTTQ7S4YXYDPY4JHL -- retrieve
Videos

Video Soroban-CLI Invoke Functions, Update, Retrieve

Video NodeJS Invoke Functions, Update, Retrieve

Price Pump Node JS App

This is a NodeJS application that gets inputs from public sources; in this sample, the yahoo-finance pricing is used. This is ONLY for testing purposes!! In production, a real-time exchange feed should be used for timely, accurate data.

Starting the pxpump.js application is now updating the Oracle.

What it does

Once every minute, the application queries the yahoo-finance interface for the SPRD(r) ETF SPY. If the query is successful, it then calls the Oracle smart contract's update method with the new price and any extra information that a smart contract might need.

Platform Integration

We're integrating the Soroban Smart Contract functionality into our platform. The BTF Platform provides web-based access to blockchain technology for regulated businesses such as Investment Banks, Broker/Dealers, Banks, Credit Unions, and Law firms. Here's a quick video on how we've started the integration process.

Platform Integration Videos

Soroban Video

Soroban Smart Contract calls from BTF Platform

SCF #13 Pitch Video SCF #13 Slide Deck

Who we are

Block Time Financial, Inc. is a blockchain infrastructure company. We provide businesses with the technology to implement blockchain solutions in a regulatory compliant manner. We run parallel to your current systems, allowing you to experiment and explore the future of finance. [email protected] (262) 368-1150

Disclaimer:

Please see the DISCLAIMER.md file in this repo