3.3.2 Seller Certificate
Last updated
Last updated
Upon successfully selling an option, you receive a Seller Certificate NFT, which serves as your confirmation and proof of transaction.
What is it? Each time you underwrite an option with Meta Defender, you receive an NFT. This NFT serves as proof of your role as an option seller in the system.
Features:
Comprehensive List View: View your Seller Certificates in a list, systematically organized by Vault ID and Liquidity ID.
Transferability: Just like the Option NFTs, Seller Certificates can be transferred at your discretion.
Engagements & Fees: While a portion of your capital remains committed and locked in the Meta Defender contract, you retain the ability to withdraw any uncommitted capital. Do note that a 0.3% execution fee is levied on each withdrawal.
Conversion to Seller Medals: Any withdrawal of uncommitted capital automatically converts your Seller Certificate into a Seller Medal, implying you no longer reflect an active selling position, even though a portion of your capital might still be engaged in the contract.
When you dive into the details of an individual Seller Certificate NFT, it presents the following attributes:
Vault: Identifies the vault associated with the underwriting, denoted by its unique name.
Liquidity: Total underwriting funds committed to the system.
Withdrawable Amount: Funds that haven't been occupied or locked. This represents the amount you can extract if you decide to discontinue your underwriting activity.
Claimable Premium: Your earnings from underwriting. This shows the amount you've gained from the premiums paid by the option buyers.
Claimable Mining Rewards: Indicates your mining income.
For more actionable steps, the interface provides you with:
Take Rewards: By clicking on this, you can retrieve your Claimable Premium earnings, ensuring you reap the benefits of your underwriting activities.
Transfer: Offers a mechanism to transfer your Seller Certificate NFT to another user. It can be handy for various strategic reasons or to simply pass on your position to someone else.
Remove Liquidity: Once the Selling Period concludes, option sellers can freely withdraw any underwriting capital that hasn't been utilized. When the option linked with a particular Seller Certificate expires without being exercised, the associated capital becomes available for withdrawal. If you choose to cease your underwriting activities, this option allows you to stop and convert your commitment into a Seller Medal. This ensures that even if you decide to discontinue underwriting, your contributions are still acknowledged.
It's paramount to understand each aspect of the Seller Certificate to maximize your potential benefits and to strategize your involvement in the system effectively. Remember, in the world of DeFi, knowledge and timely actions go hand in hand.
