Bonds, rental and fee options

In shortBonds sell future fees for cash now. Rentals let an operator run your pool for rent. Fee options sell temporary control of the fee.

Products per pool

one at a time

Rent paid in

SOUL

Bond modes

partial or hybrid

All three live in the Liquidity page tabs. All three put a lock on the pool, so only one product can run on a pool at a time, and the pool cannot be removed or have its fee changed until the product ends. In every case the liquidity stays yours.

These products deal only in the provider slice of the fee, 10 percent of each swap fee on mainnet today. The 60 percent that compounds into your reserves, the 20 percent that goes to the treasury and the 10 percent that goes to stakers of the token sold are untouched by any of them. The liquidity guide has the full split.

Bonds: sell future fees for cash now

You list a bond on a pool with a face value, a purchase price and a term. A buyer pays the purchase price to you immediately. At maturity the buyer settles the bond and collects the fees the pool earned during the term, up to the face value.

• Partial mode: the buyer receives whatever fees were earned, up to the face value, and takes the risk of a quiet pool.
• Hybrid mode: you deposit collateral as well, so fees plus collateral cover the face value. Buyers pay more for that certainty.
• A bond is written in one of the pool's two tokens. Fees earned in that token go to the buyer up to the face value, with any excess back to you. Fees earned in the other token are yours at settlement.
• You can cancel an unsold listing.

Rental: let someone else run the pool

You list the pool with a minimum and maximum term in days, a daily rate in SOUL, a deposit, and the fee band the operator may set. An operator rents it by paying the rent up front, then runs the pool's fee inside your band and collects the provider fees during the term. You collect the rent, and when the rental ends the original fee is restored.

Rent is prepaid, not streamed. The owner can collect the whole amount as soon as the renter pays.

Fee options: sell control of the fee

You write an option with a target fee, a premium, the token the premium is paid in, and a duration in hours. A buyer pays the premium for the right to set your pool's fee to the target during that window. If they exercise it, the fee changes; when they release it or the option expires, the fee you had returns. The premium is yours either way.