COP6

COP6 stands for Cross Chain Options Protocol. But only, for now, without any cross-chain capability. Surprisingly, and somewhat accidentally, this ended up being an experiment in oracle-free options protocol. Likely a first?

The primary goal was to facilitate an asset options-like experience with a minimum amount of transactions. The user pays a price difference. The liquidity provider, only emits an event (or broadcasts an EAS) letting the market know that it can use its assets for a period of time and can be dispossesd of it in return for a preferred price. There is however a third actor which stands in to replace an oracle. Scribes; they make available all the value wanted by the LP, stipulate a price and mint the position as available. This last action is always open to new price changes until a Degen (customer) pays the price difference between what the LP wants and what the Scribe signaled last.

Does it work? I tend towards: it is not clear to me as to why this would not work. The implementation however, as it stands, more likely than not, has multiple bugs. It has not in any way been tested.

So what it is exactly? In practice, it is a bunch of 99% broken code deployed on multiple chains. It could be of use as a map, but not at all as a mechanical territory. It's also... maybe an idea that's pretty out there to the extent that no one serious would ever entertain the possibility that it might actually work.

I used eth-scaffold. I am trying to get better at prototyping front-ends with my smart contracts. I failed to do so this time but that was the intention. Foundry. Not much else. The base framing was Harberger Tax. I use a linux distribution. Ah. Forgot. Of course, Solidity. I did use Solidity, almost forgot.