Lemniscate

Everlasting options for tokenized stocks.
On @robinhoodapp
Community -

[Lemniscate @UseLemniscate]

https://t.co/2tSzvDnHJy

[Lemniscate @UseLemniscate]

15% drawdown in 30 days is the line.

If the Writer Pool hits it, new option buys pause automatically. You can still sell an option you already own.

The system stops creating fresh exposure while the pool is under pressure.

[Lemniscate @UseLemniscate]

Time should be visible in the price of an option.

Lemniscate’s concept expresses the ongoing cost through a gradually shrinking balance. Availability is not confirmed.

[Lemniscate @UseLemniscate]

The useful question is whether a person can compare price, direction, and carrying cost before opening a position.

[Lemniscate @UseLemniscate]

Removing an expiry date changes the shape of an option. It does not make time disappear.

Lemniscate’s proposed design makes that distinction explicit.

[Lemniscate @UseLemniscate]

None of these design details establishes that the product is live or available.

[Lemniscate @UseLemniscate]

https://t.co/K5I1Y7jb9e

[Lemniscate @UseLemniscate]

Join us - https://t.co/5MBLj6xmLG

[Lemniscate @UseLemniscate]

A formula can work on paper and fail in code.

The Lemniscate spec calls for a 10,000 point formula versus integral check. Error must stay below one part per million.

It also requires a 14 day testnet replay with simulated flows and zero pool insolvency.

[Lemniscate @UseLemniscate]

Same stock. Same strike. Same volatility mark.

In the current build spec, the quote can still change if the Writer Pool already carries net short vega in that name. The inventory adjustment raises the mark as that exposure approaches its cap.

[Lemniscate @UseLemniscate]

A formula can work on paper and fail in code.

The Lemniscate spec calls for a 10,000 point formula versus integral check. Error must stay below one part per million.

It also requires a 14 day testnet replay with simulated flows and zero pool insolvency.

[Lemniscate @UseLemniscate]

A pool needs rules for people who want out as well as people who want in.

The Lemniscate Writer Pool uses a 72 hour withdrawal queue. Withdrawals are paid at NAV, and simultaneous exits are paid pro rata at the end of the queue.

First click does not get special treatment.

[Lemniscate @UseLemniscate]

Wallet confirmation is the awkward part of any fast moving quote.

Lemniscate buys include a maximum USDG cost and a deadline. Sells include minimum USDG proceeds and a deadline.

Those limits live inside the transaction call.

[Lemniscate @UseLemniscate]

Extended hours get their own treatment in the Lemniscate volatility engine.

Realized volatility comes from five minute regular session bars. Single provider extended hours bars are flagged and excluded. Overnight gaps are measured separately.

[Lemniscate @UseLemniscate]

One thing still missing from that list: options.

Lemniscate is building nonexpiring Up and Down options, call and put exposure for selected Stock Tokens on Robinhood Chain.

The option lives in the same wallet as the position.

[Robinhood Crypto @RobinhoodCrypto]

what does everything below have in common?

wallets, CEXes, DEXes, onchain credit, onchain experiments, Stock Tokens, fixed-rate markets, institutional custody, block explorers, analytics, data APIs, on-ramps, cross-chain swaps, index products, liquidity infrastructure

it’s all live on Robinhood Chain