⏰Decentralized CCO2 futures (DCFs)
To get access to DCFs users need to stake CRST. The amount of CRST required is determined by the amount of CCO2 traded.
Coorest DCFs are CCO2 spot contracts that obligate parties to buy or sell an asset at a predetermined future date and price. The buyer must purchase or the seller must sell the underlying asset at the set price, regardless of the current market price at the expiration date.
To create a decentralized spot futures market, the following steps can be taken:
Create a contract: A template contract that defines the terms of the futures contract. This includes the price per CCO2 token, the expiration date, the total amount of CCO2, and the settlement token (USDC/USDT).
Deposit collateral: To enter into the futures contract, participants must deposit collateral (USDC/USDT) into the smart contract. This collateral is held in escrow and is used to ensure that the contract terms are met.
Filling of the futures contract: Once the smart contract is created and the collateral is deposited, CCO2 token holders can begin filling the futures contract.
Trading the contract the futures contract: Once the smart contract is filled the creator of the DCF can begin trading the futures contract. The price of the contract is determined by the market and is based on the price of the underlying asset.
Settlement: On the expiration date of the futures contract, the smart contract automatically settles the contract. The settlement is done via CCO2 and stablecoins.
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