Future Floor Calls

SV3's first native short product is no longer a generic future concept. Read Native Offset Shorts for its implemented accounting, margin, carry, liquidation, surrender, caps, and risks.

Current-floor calls remain future work

A current-floor call would give its holder the right to mint a fixed amount of market tokens by paying the floor in effect when exercised. It is separate from an offset short and is not part of this release.

A user who does not want leverage buys through the curve or selects a 1× physical long, which creates no debt. Exercising at the floor is a discounted mint backed by a scarce option entitlement. Making that path available to every buyer would allow the above-floor premium to be extracted rather than paid.

Suppose:

current floor        $0.01 per token
option amount        1,000 tokens
exercise payment     $10 plus the configured fee

Let $q$ be the amount exercised, $F$ the current floor, $T$ actual token supply, $O$ the signed supply offset, and $C=T-O$ curve supply.

E=Fq

T'=T+q,\qquad O'=O+q,\qquad C'=T'-O'=C

Because curve supply is unchanged, exercise would leave canonical spot unchanged. Because $Fq$ enters the reserve, the new tokens' floor liability would be backed.

The option product still needs a separate release to define issuance, distribution, caps, fees, expiry, exercise interfaces, and administration. The existing signed supply-offset accounting is only a primitive that could support it later.