Numo

⚠️ WARNING: This code has not yet been audited. Use at your own risk.

Cash-settled forwards on FX stablecoins (e.g. EUROC-USDC pair) so any business can hedge their currency risk.

Overview

Under the hood, each forward is repersented as a liquidity provider position in Numo, a Uniswap V4 hook. The synthetic forward uses arbitrageurs to rebalance the position so that the the desired payoff of a cash-settled forward is always maintained. This process is known as replicating a portfolio with options and typical done by sophicated market maker to hedge illiquid FX pairs. Similar to traditional forwards, users can set a pair of strikes and an expiry to match their needs.

Advantages

• No exchange rate risk
• Globally accessible
• No reliance on counterparties
• Customizability

Acknowledgements

The smart contract suite is inspired by Primitive's open source RMM and the replicating market makers paper that first proved the replicated portfolio of any option strategy can be constructed using AMMs.

Usage

forge install

Update dependencies

git submodule update --init --recursive

Deployments

Network	Factory Address
Unichain Sepolia	0x82360b9a2076a09ea8abe2b3e11aed89de3a02d1

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