Products Non-US Cleared
AV - AAVE Option Vault
Product Code
AV
Instrument
Options
Inst Sub Type
European
Settlement Type
Financial
Underlying Asset
AAVE
Min Block Size (Contract)
–
Min Description
Per Transaction
Contract Multiplier
1 AAVE
Min Price Increment
0.00001 AAVE
Min Contract Increment
0.00000001 AAVE
RE - Rocket Pool Ethereum Options Vault
Product Code
RE
Instrument
Options
Inst Sub Type
European
Settlement Type
Financial
Underlying Asset
rETH
Min Block Size (Contract)
–
Min Description
Per Transaction
Contract Multiplier
1 RETH
Min Price Increment
0.0001 RETH
Min Contract Increment
0.00000001 rETH
SV - Staked AVAX Options Vault
Product Code
SV
Instrument
Options
Inst Sub Type
European
Settlement Type
Financial
Underlying Asset
sAAVE
Min Block Size (Contract)
–
Min Description
Per Transaction
Contract Multiplier
1 SAVAX
Min Price Increment
0.00001 SAVAX
Min Contract Increment
0.00000001 sAAVE
US - USD Coin Options Vault
Product Code
US
Instrument
Options
Inst Sub Type
European
Settlement Type
Financial
Underlying Asset
ETH
Min Block Size (Contract)
–
Min Description
Per Transaction
Contract Multiplier
1 USDC
Min Price Increment
0.1 USDC
Min Contract Increment
0.00000001 USDC
UE - USD Coin Bridged Options Vault
Product Code
UE
Instrument
Options
Inst Sub Type
European
Settlement Type
Financial
Underlying Asset
AVAX
Min Block Size (Contract)
–
Min Description
Per Transaction
Contract Multiplier
1 USDC.e
Min Price Increment
0.01 USDC.e
Min Contract Increment
0.00000001 USDC.e
WA - Wrapped Avalanche Options Vault
Product Code
WA
Instrument
Options
Inst Sub Type
European
Settlement Type
Financial
Underlying Asset
AVAX
Min Block Size (Contract)
–
Min Description
Per Transaction
Contract Multiplier
1 WAVAX
Min Price Increment
0.00001 WAVAX
Min Contract Increment
0.00000001 AVAX
WB - WBTC Option Vault
Product Code
WB
Instrument
Options
Inst Sub Type
European
Settlement Type
Financial
Underlying Asset
wBTC
Min Block Size (Contract)
–
Min Description
Per Transaction
Contract Multiplier
1 WBTC
Min Price Increment
0.00001 WBTC
Min Contract Increment
0.00000001 wBTC
WE - Wrapped Ethereum Options Vault
Product Code
WE
Instrument
Options
Inst Sub Type
European
Settlement Type
Financial
Underlying Asset
ETH
Min Block Size (Contract)
–
Min Description
Per Transaction
Contract Multiplier
1 WETH
Min Price Increment
0.0001 WETH
Min Contract Increment
0.00000001 wETH
WS - Wrapped Staked Ethereum Options Vault
Product Code
WS
Instrument
Options
Inst Sub Type
European
Settlement Type
Financial
Underlying Asset
stETH
Min Block Size (Contract)
–
Min Description
Per Transaction
Contract Multiplier
1 WSETH
Min Price Increment
0.00001 WSETH
Min Contract Increment
0.00000001 stETH
Notes
•
All Ribbon products are not US Cleared
Leg Pricing Assignment Methodology
Paradigm’s leg pricing methodology attempts to take the quoted strategy prices as entered by the maker and calculate individual leg prices subject to the following broad constraints:
1
Calculate leg prices as close to the mark as possible
2
Leg prices must be in increments of minimum tick size
3
Leg prices must be within the Min and Max prescribed by the exchange for each leg
4
For options strategies, leg prices must preserve delta relationships:
- Higher strike puts > Lower strike puts
- Higher strike calls < Lower strike calls
Fees
Paradigm fees for Ribbon products are free for auction participants.
Account Credentials
1
To participate in Paradigm auctions, bidders need to approve their wallet / tokens beforehand. Follow the instructions on Ribbon’s website to approve your wallet / tokens.
Note: When approving the Ribbon smart contract, verify that the “Spend Limit Permission” is set to a large enough amount to cover the auction. By default, it is recommended to be set to unlimited by Ribbon. This can be changed by editing the Permission Request and setting a “Custom Spend Limit”. When bidding, if you get an error message that says “SIGNER_ALLOWANCE_LOW”, you may need to re-approve and re-set this permission.
2
Navigate to Paradigm Admin
3
Click “Ribbon” under “Derivatives (listed)” and navigate to the Account Tab (default tab currently)
4
Click "Add +" in the top right corner
5
Paste in your Swap Address: On the Ribbon Wallet Approval page (link here), click on the icon next to “Paradigm” to open Etherscan. Your Swap Address is the hash next to “Contract”
6
Paste in your Bidding Token Address: On the Ribbon Wallet Approval page, click on the icon next to the coin that you’ve approved to open Etherscan. Your Bidding Token Address is the hash next to “Contract”
Note: As we ramp up and add more vaults (i.e. AAVE) you will need to do this same approval flow on both the Ribbon and Paradigm sides for each new bidding token. This means that you will need at least one “wallet” set up for each Ribbon bidding token in the Paradigm Admin Dashboard.
7
Paste in your Wallet Address
Note: ensure you use the same wallet information that you used to approve on Ribbon’s site
Restricted Jurisdictions
Please refer to the specific DeFi vault documentation for information about restricted jurisdictions. For more information, please see here.
