OUTSIDEPeriphery, comingBeside the pool

Pay Later

Buyers pay a premium now to reserve tokens at a fixed price for a term.

Where it runs

Outside

Beside the pool, off the swap path, set up after launch.

Status on reel

Periphery, coming

Coming: the `paylater` module is built and tested in reel-vaults' source, not in the deployed build yet. It arrives with an upgrade at the same address.

Set by

You, at launch

Beside the pool · Live

What it does

A covered call on the tokens the launch position earns as fees: buyers pay a premium to reserve tokens at a strike for a term, then exercise by paying the strike or let it lapse. The liquidity stays locked in the pool throughout.

How it works on reel

reel-vaults' paylater module: the creator hands the launch to a vault that collects the launch position's fees (quote fees to the creator, base fees to the inventory). Buyers pay a premium to reserve units at a strike floored by reel's TWAP over at least 30 minutes, then exercise before expiry or let the units return.

Settings

reel fixes this block's settings when it ships beside the pool. For reference, hookr's:

Premium 1–50% of strike (5%); term 5 min–7 d (1 h); top guard 5–50% (10%); hookr takes 20% of each premium.

Fees and who's paid

Paid to

The creator: the whole premium and every strike paid.

Protocol share

reel takes no share of it.

Requires and can't be combined with

Requires

No other block.

Can't be combined with

Nothing: it sits beside any block.

Worked example

Reserve 10,000 tokens at a recent high of 0.0001 SOL: strike 1 SOL, premium 0.05 SOL. If the price reaches 0.00015 SOL, the buyer pays 1 SOL for tokens worth 1.5 SOL.