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SunStorm
@sunstormzz
🔥 Big news last week 🔥 @SmileeFinance's NFT just secured a role in the official @Berachain Discord this morning. 🔥 This is huge – so far, there are only 3 NFT that got this privilege: Honeycomb 🍯 0.33ETH Yeetard 🧸 0.16ETH Smilee 🌈 0.028ETH And hey, let's get to know Smilee Finance ⬇️ – you're going to want to be part of this! 🚀
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SunStorm
@sunstormzz
What is Smilee Finance 🌈 ? @smileeFinance is a decentralized finance (DeFi ) platform focused on leverage option trading, its protocol centered on the use of options contracts, designed to offer strategic financial tools for users in the DeFi space. More about its protocol below ⬇️
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SunStorm
@sunstormzz
What are the options? @smileeFinance basic options contract offers the buyer the opportunity to buy or sell (depending on the type of contract they hold) the underlying asset by a certain date at a certain price. Let’s say Chad buys a Call option (paying the premium) that gives him the right to buy ETH at $2,000 (strike price) by the end of the week (expiration date). At the end of the week, If the ETH price is greater than $2,000, he wins! Chad can buy ETH at $2,000 and sell it at a higher price. However, if the ETH price is less than $2,000, it does not make sense to use his right to buy ETH at $2,000 so he simply loses the premium paid. Note: Premium is the price the buyer of the option pays to the seller of the option to enjoy the right that the option provides. Two important things to notice: - Chad never loses more than the premium (he cannot get liquidated!). - Chad can make big money for a relatively small premium (he enjoys huge leverage!).
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