# The Staking Lab - Changelogs (/docs/changelogs/staking-lab-changelogs) ## 1.3.0 - 2026-02-13 **FEATURES:** * Added RealmsAPI to display live and historical governance proposals * Added governance proposal voting interface to allow for casting/withdrawing with the staked governance votes * Added finalize and execute capabilities to governance proposals * Added "Reward Pool" interface components to display future implementation (visible but disabled currently) * Added "Reward Pool" Stats card and chart to display future implementation (visible but disabled currently) * Added an "FAQs" section * Added "The Staking Lab" header * Added Stake Interface headers **CHANGES:** * Extended Transaction History to include vote records (that are casted through The Staking Lab UI) * Enhanced error logging and diagnostics for transaction handling * Updated User Interface layout and design (moved transaction history to the top) * Changed default timeframe to 7D timeframe (previously 1D or 24hr timeframe) * Implemented Fees: (0.002 SOL fee when claiming xLABS, 0.005 SOL convienience fee for casting votes within the UI) * Updated App Header/Navbar title from "Epientral Labs | The Staking Lab" to "Epicentral Labs | OPX" **OPTIMIZATIONS:** * Improved transaction-error messaging with clearer guidance for users to adjust priority fee settings * Optimized RPC calls and data fetching from both RealmsAPI and internal database APIs * Optimized Mobile Layout for smaller screens, including tablets and laptops * Updated animation library dependencies to latest versions * Codebase cleanup for performance and maintainability **BUG FIXES:** * Fixed prolonged-modal loading issue when Staking and Unstaking. Modal now closes after wallet signature by the user. Staking Lab 1.3.0 Update ## 1.2.7 - 2026-01-14 **CHANGES:** * Adjusted priority fee compute unit allocations across transaction priority levels for enhanced transaction processing: | Priority Level | Compute Units (Old → New) | | ------------------ | ------------------------- | | Standard (default) | 100,000 → **200,000** | | Low | 150,000 → **350,000** | | Medium | 250,000 → **550,000** | | High | 450,000 → **750,000** | **OPTIMIZATIONS:** * Improved transaction-error messaging with clearer guidance for users to adjust priority fee settings *** ## 1.2.6 - 2026-01-07 **OPTIMIZATIONS:** * 1D chart now shows 1hr aggregate data points * 7D chart now shows 4h aggregate data points * Volume bars now align with the line graph chart * xLABS accumulation counter now animates at a smooth **30 fps** (removed random jitter) **BUG FIXES:** * Fixed all de-sync issues for pending "xLABS to Claim" (99.98% accuracy), (please claim xLABS once to sync with database) * Fixed incorrect date/time on aggregate chart data (for all timeframes) * Fixed on-hover chart tooltip text and color for privacy browsers: (Brave, Avast, Firefox, etc.) *** ## 1.2.5 - 2025-12-31 **OPTIMIZATIONS:** * USD volume (LABS/xLABS) is now tracked and stored in backend (no frontend implementation at this time) **BUG FIXES:** * "xLABS Claimed" for the user should display accurate values for everyone now. *** ## 1.2.0 - 2025-12-30 **FEATURES:** * 24h timeframe added to charts, aggregated data shown at 5min intervals * 7D timeframe now shows aggregated data at 1 hour intervals * 30D & All Time timeframe shows aggregated data at 24 hour intervals * Charts show Volume of LABS Staked and xLABS Claimed, respective to each timeframe (24h, 7D, 30D, All Time) * Updated Stake/Unstake Modals Styles **OPTIMIZATIONS:** * Removed laggy `gsap` scripts (replacing header text, removing text-splits and animated background) * Refactored "Transaction History" list (removed `gsap` scripts) * Reduced webpage load times (LCP): from Avg: **5.39 secs -→ 1.55 secs** (-76.4% decrease) * Optimized RPC calls from Daily Avg **2,200,000 requests -→ 75,000 requests** (-96.5% decrease) * Improved tx/claim-history loading by **+100%** (data parsed into off-chain database) * Optimized xLABS accumulation counter avg latency from **13,530+ ms -→ 367 ms** (-97.28% decrease) * Added lazyloading to Charts (app performance upgrade) **BUG FIXES:** * Fixed "gray" browser overlay/bug (blocked `gsap` scripts) on privacy browsers: Brave, Firefox, Avast, etc. * Fixed (partial) xLABS accumulation counter de-sync issue (claim your xLABS to see the update) (partial-fix). Staking Lab 1.2.0 Update *** ## 1.1.0 - 2025-12-26 **FEATURES:** * Added user-based claim history tracking (each wallet is now tracked accurately, individually) You *may* see your "xLABS Claimed" value reset (dont worry, its just a database update). * Added "Governance" link to navigation (Epicentral DAO) and "Epicentral Labs" along with a logo on the top left to help navigate to the main web page. * Added WebGL fallback for animation compatibility on privacy-focused browsers (this should fix the grey overlay for some browsers. If it still occurs, please ensure that scripts are not blocked - as that is a user-based setting, not browser, open a support ticket if you have issues). **OPTIMIZATIONS:** * Refactored the "Pending xLABS" calculation accuracy, (calculates fast, real-time accumulation). xLABS accumulation is now synced properly with on-chain data and UI. * Improved chart display by removing visible datapoints clogging the line, better time-span options, fixed x-axis dates (added actual dates, not just timestamps), and added % change across all charts. * Added transaction finalization verification for more accurate claim amounts (Transaction History and notification popups). * Replaced "Docs" with "How it Works" in navigation for clarity. *** ## 1.0.1 - 2025-12-22 **BUG FIXES:** * Staking Lab historical data bug caused by incorrect cron job configurations *** ## 1.0.0 - 2025-12-22 * Initial Release of The Staking Lab, visit [https://stake.opx.markets](https://stake.opx.markets) *** # Core Team (/docs/epicentral-dao/core-team) # Core Team — Procedural Agents of the DAO The **Core Team** operates as the DAO's designated **procedural agents**, performing ministerial and execution-based tasks approved through the [Epicentral DAO](/docs/epicentral-dao). Core Team Members do **not** manage, direct, or control the DAO and hold **no discretionary authority** beyond what [LABS Token Holders](/docs/tokens/labs-token) explicitly approve. Their role exists to ensure that passed proposals, once ratified, execute faithfully, accurately, and without discretion beyond the approved parameters. The Core Team's authority exists **only in a Procedural Capacity**, as defined in the Operating Agreement. Core Team Members execute governance-approved tasks without discretionary deviation and hold no ownership, managerial rights, or binding authority. ## What the Core Team Doesn't Do The Core Team does **not**: * Bind the Company without [DAO](/docs/epicentral-dao) approval * Establish strategic direction * Influence token value * Perform managerial or entrepreneurial efforts under Howey jurisprudence *** ## Core Team Responsibilities Once a proposal passes governance, Core Team Members execute approved tasks within the bounds of the **approved mandate** and **cannot exceed governance-defined parameters**. | Responsibility Category | Description | | ----------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Smart Contract Operations** | Implement smart contract deployments and configuration changes after DAO approval. | | **Protocol Development** | Coordinate protocol development, audits, and infrastructure integration | | **External Communications** | Represent the DAO in communications with third parties | | **Financial Operations** | Execute approved contributor payments and operational disbursements from the [Core Team Multisig wallet](https://v2.realms.today/dao/J8shg73bobmwaRY2EXsLV3ABytfCTp5uZ2TtVk4aZBfe/proposals) | | **Community Management** | Administer community operations, including moderation against spam, fraud, or abuse | | **Documentation** | Publish DAO-approved documentation, releases, and procedural notices | ### Core Team Limitations **No Core Team Member** may independently: | Restricted Action | Reserved Authority | | ------------------------------------------------------ | ------------------------------------------------- | | Modify protocol economics | [Epicentral DAO](/docs/epicentral-dao) governance | | Negotiate binding commercial terms | [Epicentral DAO](/docs/epicentral-dao) governance | | Reallocate [DAO Treasury](/docs/epicentral-dao) assets | [Epicentral DAO](/docs/epicentral-dao) governance | | Alter governance processes | Operating Agreement | The [Epicentral DAO](/docs/epicentral-dao) expressly reserve these powers. *** ## Core Team Appointment Under the current framework, the [Epicentral DAO](/docs/epicentral-dao) exclusively controls Core Team appointment, addition, and removal. | Appointment Requirement | Description | | ------------------------- | --------------------------------------------------------------------------------------------------- | | **Appointment Authority** | The [Epicentral DAO](/docs/epicentral-dao) exclusively appoints, adds, or removes Core Team Members | | **Self-Appointment** | No individual or group may self-appoint or induct new members | | **Token Status** | Core Team tokens are non-transferable and uniquely tied to multisig roles | | **Member Status** | Appointment does **not** confer Member status or authority to bind the Company | ### Applicant Requirements Applicants must demonstrate: * Technical or operational proficiency * Consistent participation * Understanding of the DAO's architecture and requirements * The ability to execute governance-approved tasks without discretionary deviation The Core Team structure preserves predictable execution—not strategic control. *** ## Core Team Budget The [Epicentral DAO](/docs/epicentral-dao) retains **exclusive authority** over the [DAO Treasury](/docs/epicentral-dao) and sets the Core Team's operational budget through on-chain governance. | Budget Stage | Process | | ---------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Approval** | The DAO sets the Core Team's operational budget through on-chain governance | | **Transfer** | Funds transfer from the [DAO Treasury](/docs/epicentral-dao) to the **[Core Team Multisig wallet](https://v2.realms.today/dao/J8shg73bobmwaRY2EXsLV3ABytfCTp5uZ2TtVk4aZBfe/proposals)** | | **Execution** | Core Team Members may spend funds **only** as authorized | | **Modification** | Budget flows cannot be altered without a new governance proposal | Core Team budgets are determined by the [Epicentral DAO](/docs/epicentral-dao). Any funds used in a non-procedural way must be approved by the [Epicentral DAO](/docs/epicentral-dao). Any funds controlled by the Core Team through the [multisignature wallet](https://v2.realms.today/dao/J8shg73bobmwaRY2EXsLV3ABytfCTp5uZ2TtVk4aZBfe/proposals) can only be allocated by the [Epicentral DAO](/docs/epicentral-dao). Budget allocations are not salaries, dividends, or profit entitlements; they are compensation for execution-based services performed on behalf of the DAO. This is consistent with **VII.2**, which authorizes Core Team compensation as part of protocol operations. *** ## Core Team Multisig Wallet The [Core Team Multisig wallet](https://v2.realms.today/dao/J8shg73bobmwaRY2EXsLV3ABytfCTp5uZ2TtVk4aZBfe/proposals) protects DAO resources by requiring **unanimous approval** from all Core Team signers for every transaction. | Multisig Feature | Description | | ------------------------- | ----------------------------------------------------------------------- | | **Unanimous Approval** | All Core Team signers must approve every transaction | | **Individual Protection** | No individual—including founders—may unilaterally transfer funds | | **Governance Control** | Multisig control cannot be modified without governance approval | | **Transparency** | Operational disbursements require transparent, verifiable authorization | | **Oversight** | All spending remains traceable and subject to DAO oversight | The multisig therefore acts as a **procedural safeguard**, not a governance layer. *** ## Budget Transparency The DAO maintains **public observability** of Core Team budget execution through comprehensive reporting mechanisms. | Transparency Element | Description | | ------------------------ | --------------------------------------------------------------------------------------------------------------------------------- | | **Audit Trails** | Documented audit trails for every expense | | **Spending Records** | Categorized spending records | | **Operating Reports** | Monthly operating reports and financial forecasts | | **Transaction Tracking** | Real-time tracking of [multisig transactions](https://v2.realms.today/dao/J8shg73bobmwaRY2EXsLV3ABytfCTp5uZ2TtVk4aZBfe/proposals) | Transparency ensures accountability without granting token holders fiduciary rights or profit expectations. *** ## Summary The Core Team structure reinforces decentralization while enabling operational continuity and predictable execution. | Core Team Characteristic | Description | | ------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Decision Making** | Executes governance decisions, but does not create them | | **Authority** | Holds no ownership, managerial rights, or binding authority | | **Operational Scope** | Operates strictly within a Procedural Capacity | | **Compensation** | Receives compensation for labor—not token-based profit rights | | **Wallet Control** | Functions through a [multisig wallet](https://v2.realms.today/dao/J8shg73bobmwaRY2EXsLV3ABytfCTp5uZ2TtVk4aZBfe/proposals) controlled by unanimous consent | | **Purpose** | Exists to ensure proposals become reality, not to direct the DAO's future | This structure reinforces decentralization while enabling operational continuity and predictable execution. # Proposal Process (/docs/epicentral-dao/governance-process) import { Step, Steps } from '@/components/steps'; ## Voting Process #### Draft Proposal Outline the intent, required resources, and expected outcomes for the idea. This is usually done through a forum post in the Epicentral Labs [Discord](https://discord.gg/5asAuY2sR8) server. #### Community Review Share the draft for feedback and collect any suggested amendments through the same discord forum post. #### Submit On-Chain Publish the finalized proposal to the governance program for voting. This is done on-chain through the [Realms](https://realms.today/) user interface. To learn more about how to create a proposal, please visit their documentation [here](https://docs.realms.today/realms-v2/features/proposals). #### Vote & Execute LABS holders use their LABS to vote directly on live proposals. Voting power depends on how many LABS you hold. Once voting ends, the Core Team carries out approved proposals—or, if possible, the proposal executes automatically via an on-chain instruction. # Epicentral DAO (/docs/epicentral-dao) ## Overview Epicentral Labs is a [Decentralized Autonomous Organization](https://www.investopedia.com/tech/what-dao/), also known as a **DAO**, that is the on-chain corporate governance infrastructure in how Epicentral Labs operates in a decentralized manner. Most DAO operations include, but are not limited to: * Development Financing * Partnerships * Collaborations * Payment to Contributors * Treasury Asset Allocations Specifically, Epicentral DAO is built on the [Solana Blockchain](https://solana.com/) and can be accessed and governed through [Realms](https://realms.today/), the leading open-source platform for DAO creation, governance, and treasury management on Solana. ### Governance Token | Token | Address | | ----- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | LABS | [`LABSh5DTebUcUbEoLzXKCiXFJLecDFiDWiBGUU1GpxR`](https://jup.ag/?sell=So11111111111111111111111111111111111111112\&buy=LABSh5DTebUcUbEoLzXKCiXFJLecDFiDWiBGUU1GpxR) | ### Governance Programs | Program | Address | | --------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------- | | [Owner Program](https://docs.realms.today/realms-v2/features/programs) | [`GovER5Lthms3bLBqWub97yVrMmEogzX7xNjdXpPPCVZw`](https://solscan.io/account/GovER5Lthms3bLBqWub97yVrMmEogzX7xNjdXpPPCVZw) | | [DAO (Governance) Program](https://docs.realms.today/realms-v2/features/programs) | [`5PP7vKjJyLw1MR55LoexRsCj3CpZj9MdD6aNXRrvxG42`](https://solscan.io/account/5PP7vKjJyLw1MR55LoexRsCj3CpZj9MdD6aNXRrvxG42) | ### Deployed & Owned Programs | Program | Description | Address | Authority Wallet | | ----------------------------------------------------------------- | --------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------- | | [Staking Lab Program](/docs/staking-lab/staking-program) | The Staking Lab Program is the core program that allows users to stake, unstake, and claim rewards. | [`EpicbGrj6qRkeYoy35ZTxHHtkvTtUC9Fz7KRuH7c5hrS`](https://solscan.io/account/EpicbGrj6qRkeYoy35ZTxHHtkvTtUC9Fz7KRuH7c5hrS) | [`3BEvopNQ89zkM4r6ADva18i5fao1sqR1pmswyQyfj838`](https://solscan.io/account/3BEvopNQ89zkM4r6ADva18i5fao1sqR1pmswyQyfj838) | | [Staking Voter Plugin Program](/docs/staking-lab/staking-program) | The program that connects Realms to The Staking Lab. | [`VTRqoZfjUKHh65rGvMCZfEr2jBk89w8qqhM1q7Ph4KX`](https://solscan.io/account/VTRqoZfjUKHh65rGvMCZfEr2jBk89w8qqhM1q7Ph4KX) | [`3BEvopNQ89zkM4r6ADva18i5fao1sqR1pmswyQyfj838`](https://solscan.io/account/3BEvopNQ89zkM4r6ADva18i5fao1sqR1pmswyQyfj838) | ### Treasuries | Treasury | Address | Voting Time | Vote Threshold | | ------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------- | ----------- | -------------- | | [Main Treasury](https://v2.realms.today/dao/5PP7vKjJyLw1MR55LoexRsCj3CpZj9MdD6aNXRrvxG42/treasury) | [`3BEvopNQ89zkM4r6ADva18i5fao1sqR1pmswyQyfj838`](https://solscan.io/account/3BEvopNQ89zkM4r6ADva18i5fao1sqR1pmswyQyfj838) | 3 Days | 55% | | [Community Treasury](https://v2.realms.today/dao/5PP7vKjJyLw1MR55LoexRsCj3CpZj9MdD6aNXRrvxG42/treasury) | [`DR1P6yBNXQ8YLBrpYpU3FjnnruStMRzm2y2cAA3D6ynm`](https://solscan.io/account/DR1P6yBNXQ8YLBrpYpU3FjnnruStMRzm2y2cAA3D6ynm) | 1 Days | 55% | | [Rewards Treasury](https://v2.realms.today/dao/5PP7vKjJyLw1MR55LoexRsCj3CpZj9MdD6aNXRrvxG42/treasury) | [`6yuntQAS5gSwhhKaXG3QYbcwXPxhsbULu9Tzv9mizUUm`](https://solscan.io/account/6yuntQAS5gSwhhKaXG3QYbcwXPxhsbULu9Tzv9mizUUm) | 2 Days | 55% | | [Marketing Treasury](https://v2.realms.today/dao/5PP7vKjJyLw1MR55LoexRsCj3CpZj9MdD6aNXRrvxG42/treasury) | [`6tpxdCf56XZQbdieLFZGDgaWpefc6SZPGy9Sg6MqYVRB`](https://solscan.io/account/6tpxdCf56XZQbdieLFZGDgaWpefc6SZPGy9Sg6MqYVRB) | 1 Days | 55% | *** ## Minimum Governance Requirements | Action | Minimum Token Requirement | | --------------------------------------------------------------------------- | ------------------------- | | [Cast Vote](https://docs.realms.today/realms-v2/features/proposals) | 0.00001 LABS | | [Create a Proposal](https://docs.realms.today/realms-v2/features/proposals) | 250,000 LABS | | Draft a Proposal ([Discord](https://discord.gg/5asAuY2sR8) Forum Post) | 0 LABS | | Edit DAO Configuration | 1,500,000 LABS | ### Who can participate? If you hold LABS tokens, you have the power to vote, comment, discuss, and create proposals in the DAO. If you don’t meet the minimum token requirement to submit a proposal directly on-chain (which helps prevent spam), you can still draft a proposal by posting it in our [Discord](https://discord.gg/5asAuY2sR8) server. # Open-Market Token Distribution Event (/docs/epicentral-dao/open-market-token-distribution-event) ## Overview Epicentral Labs DAO facilitated an open-market acquisition of LABS tokens through a decentralized exchange, where participants voluntarily exchanged roughly \$20,000 in USDC at market-listed prices. Epicentral Labs DAO did not make any private allocations, offer discounts, or promise investments for LABS tokens. LABS serves as a governance and utility token, empowering users to engage with and operate components of the Epicentral ecosystem. By choosing an open-market approach, the DAO transparently recorded buyers on-chain, avoided concentration of governance, and broadened protocol participation—instead of transferring the entire token amount to a single developer. ## Participation-Based Allocations The DAO designates ten percent (10%) of protocol fees for a two-month period beginning at launch for potential participation-based allocations. Eligibility requires active protocol use; distributions are not guaranteed and arise solely from on-chain activity—not passive holding, speculation, or managerial efforts. ## Distribution Details For a detailed snapshot of the distribution data, see the [distribution spreadsheet](https://docs.google.com/spreadsheets/d/1VH7rL9M4Oa8g5n2y8sgwoPSc-9u_zK_LQ7qYT8i1vbY/edit?gid=0#gid=0). | Wallet Address | LABS | % Contributed | % Allocated | | ------------------------------------------------------------------------------------------------------------------------- | --------- | ------------- | ----------- | | [`FPN8XSRKtuG8sRnzAfYzdTAcewXvihnh8rR5KuRVHMxk`](https://solscan.io/account/FPN8XSRKtuG8sRnzAfYzdTAcewXvihnh8rR5KuRVHMxk) | 1,014,264 | 25.71% | 2.57% | | [`GxEmQ2XcxsismsX4s4jbiEubuBtqax67Pa8g25AgGXwN`](https://solscan.io/account/GxEmQ2XcxsismsX4s4jbiEubuBtqax67Pa8g25AgGXwN) | 609,630 | 15.45% | 1.55% | | [`D5B6PQycZLkrApdjrKjqEeBDZDXTJJUvnGJ64qkHP6eV`](https://solscan.io/account/D5B6PQycZLkrApdjrKjqEeBDZDXTJJUvnGJ64qkHP6eV) | 528,809 | 13.40% | 1.34% | | [`AvHNzGNJKCDLmMCnQJk8oUzz4fnmjM276nUtEAuzSMPB`](https://solscan.io/account/AvHNzGNJKCDLmMCnQJk8oUzz4fnmjM276nUtEAuzSMPB) | 479,176 | 12.15% | 1.21% | | [`3zxtSkehQA7Dtknwkt95FMnp4h4MDWYHM1epj9xeRsof`](https://solscan.io/account/3zxtSkehQA7Dtknwkt95FMnp4h4MDWYHM1epj9xeRsof) | 281,807 | 7.14% | 0.71% | | [`HejWAp9fEFmYSSQSFXU7MM3HXtGZetcrfTNXf7ymrJaC`](https://solscan.io/account/HejWAp9fEFmYSSQSFXU7MM3HXtGZetcrfTNXf7ymrJaC) | 238,511 | 6.05% | 0.60% | | [`AqMPDhyaAHskQTfribZFT2V64hAWa2mRu1H7u43xRwFj`](https://solscan.io/account/AqMPDhyaAHskQTfribZFT2V64hAWa2mRu1H7u43xRwFj) | 145,635 | 3.69% | 0.37% | | [`DBAMcasPmgSrStwH82DhVSKaWZrsjUR3nz6M3vc13aCs`](https://solscan.io/account/DBAMcasPmgSrStwH82DhVSKaWZrsjUR3nz6M3vc13aCs) | 127,978 | 3.24% | 0.32% | | [`AKchXUd79Zg5AEo7kmTA2w39K2NrB7rTjxmQVEvXzv3w`](https://solscan.io/account/AKchXUd79Zg5AEo7kmTA2w39K2NrB7rTjxmQVEvXzv3w) | 112,078 | 2.84% | 0.28% | | [`FZjBjCsGbctcCbzxJdk85fR38G7cd8cEqYbQ5muvkZsC`](https://solscan.io/account/FZjBjCsGbctcCbzxJdk85fR38G7cd8cEqYbQ5muvkZsC) | 108,221 | 2.74% | 0.27% | | [`HNymuYuTyYzGGAHs8YVebEfTsuVd866UHccparwiBzA8`](https://solscan.io/account/HNymuYuTyYzGGAHs8YVebEfTsuVd866UHccparwiBzA8) | 105,697 | 2.68% | 0.27% | | [`E3cezTAbXVRHmcrGHmLiFVdXtxq9Ywpq5ujzkV7aBEwR`](https://solscan.io/account/E3cezTAbXVRHmcrGHmLiFVdXtxq9Ywpq5ujzkV7aBEwR) | 99,477 | 2.52% | 0.25% | | [`2kVip1UDmGfG7wobgQmw5sQ84bfgtaHSAtWDWCfwrUGL`](https://solscan.io/account/2kVip1UDmGfG7wobgQmw5sQ84bfgtaHSAtWDWCfwrUGL) | 47,818 | 1.21% | 0.12% | | [`H7q8zE2gXsWqraa6UCCLCk31zpFwjigMxBfxNDz3gW6c`](https://solscan.io/account/H7q8zE2gXsWqraa6UCCLCk31zpFwjigMxBfxNDz3gW6c) | 46,086 | 1.17% | 0.12% | | [`3cJDqUPRUrDaRBr98FphgUMPt3R5Rfu7S64KPVuzLqhQ`](https://solscan.io/account/3cJDqUPRUrDaRBr98FphgUMPt3R5Rfu7S64KPVuzLqhQ) | 352 | 0.01% | 0.00% | # About Epicentral Labs (/docs/introduction/about) ## The Mission Epicentral Labs is building the essential infrastructure to make options trading a reality on the [Solana Blockchain](https://solana.com/) by bringing new decentralized finance derivatives to Solana through the [Epicentral DAO](/docs/epicentral-dao). Our goal is to expand option markets across the ecosystem by developing our flagship product, [OPX](/docs/opx/opx-main), and creating open-source SDKs that empower other protocols to integrate options trading into their own platforms. *** ## The Core Philosophy At our core, we want to return financial power back to users from financial institutions. Those who supply the capital that keeps economic systems functioning, should be the ones benefitting the most. Without them, there would be no economy. Our principles of integrity, decentralization, and strategy drive us towards our end-goals everyday. ### Intended Users > Our focus on opportunity for users is not limited to traders alone. We want to make a protocol and environment where all users within the Solana Network can grow and thrive. — [TheCyberStaker](https://x.com/TheCyberStaker) *** ## The Problem Current market opportunities allow traders to profit by either trading at spot price or with leverage via [perpetual futures](https://www.investopedia.com/what-are-perpetual-futures-7494870) (perp trading). While this benefits risk-seeking traders, it overlooks key features that enable smarter, more calculated risk-taking. **Issues traders face when trading with perpetual futures include:** * Accruing borrow interest on leveraged positions * Undefined volatility * Minimal risk management (only offering stop-losses, take-profits, etc.) All of which hinder the potential growth of traders. ## The Solution When we put our [Core Philosophy](#the-core-philosophy) into action, options trading helps traders manage excessive risk in today's markets by creating a more structured and predictable trading experience. **Options are tools that:** * Mitigate over-exposure to market volatility * Provide a measurable trading experience with predefined risk and reward * Offer more advanced risk management strategies # Our History (/docs/introduction/history) # Origin Epicentral Labs, DAO LLC is a limited liability company and decentralized autonomous organization (DAO) organized as per the laws of the State of Wyoming pursuant to the **Wyoming Limited Liability Company Act**, [*W.S. 17-29-101 et seq.*](https://sos.wyo.gov/Forms/WyoBiz/Wyoming_Limited_Liability_Company_Act_and_Close_LLC_Supplement.pdf) Founded by [TheLazySol](https://x.com/TheLazySol) on **July 6th, 2024**. The name “Epicentral”, comes from the word *"epicenter"*, symbolizing to be the focal point for innovation in decentralized finance and blockchain development. # Introduction (/docs/introduction) import { BookOpen, Users, Layers, TrendingUp } from 'lucide-react'; # Who are these docs for? These documentation pages are for anyone who wants to dive deep into what and how Epicentral Labs works from the inside out. Whether you read from the perspective of a developer, DAO member, or simply curious, these pages are for you. ### Pick what you want to start with: } title={About Epicentral Labs} description="Learn about our history, mission, and anticipated future." href="/docs/introduction/about" /> } title={Epicentral DAO} description="Dive deep into our decentralized autonomous organization. Understand its importance and how you can influence it." href="/docs/epicentral-dao" /> } title={The Staking Lab} description="Stake LABS. Mint xLABS. A unique reward system that pays DAO participation." href="/docs/staking-lab" /> } title={OPX} description="A comprehensive walkthrough of how to trade options natively on Solana." href="/docs/opx/opx-main" /> # Operating Agreement (/docs/legal/oa) ## Overview The Operating Agreement is a document that outlines the rules and regulations for the operation of Epicentral Labs, DAO LLC and its products. It is a legal document that is used to govern and enforce the operations of the company and its products -- ensuring that the Members, [Core Team Members](/docs/epicentral-dao/core-team), and [LABS](/docs/tokens/labs-token) Token Holders, operate in a lawful and compliant manner. The full operating agreement can be found in the [legal repository](https://github.com/EpicentralLabs/legal) in our Epicentral Labs GitHub organization. ## Legal Proposals & Documents | Document | DAO Proposal & Title | Date Passed | Link | | ------------------------------------------------------------------- | ------------------------------------------------------------------------------------- | ----------------- | ----------------------------------------------------------------------------------------------------------------------------------------------- | | [Articles of Organization](https://github.com/EpicentralLabs/legal) | Non-Security Disclaimer, Operating Agreement, and Retro-certification Acknowledgement | November 16, 2025 | [Proposal Link](https://v2.realms.today/dao/5PP7vKjJyLw1MR55LoexRsCj3CpZj9MdD6aNXRrvxG42/proposal/6DnsmAxKf7giqJjTm6Eya4NkVmNqxyveriu3McBDkRDv) | | [Operating Agreement](https://github.com/EpicentralLabs/legal) | Non-Security Disclaimer, Operating Agreement, and Retro-certification Acknowledgement | November 16, 2025 | [Proposal Link](https://v2.realms.today/dao/5PP7vKjJyLw1MR55LoexRsCj3CpZj9MdD6aNXRrvxG42/proposal/6DnsmAxKf7giqJjTm6Eya4NkVmNqxyveriu3McBDkRDv) | # Privacy Policy (/docs/legal/pp) *Effective Date: 11-20-2025* > **Note:** This Privacy Policy is a **general user-facing policy** for Epicentral Labs' public Interfaces. > Members, [Core Team Members](/docs/epicentral-dao/core-team), auditors, and contractors may be subject to **additional obligations** under the > [**Operating Agreement of Epicentral Labs, DAO LLC**](/docs/legal/oa) and related agreements, which control in the event of any conflict. *** # Privacy Policy ## 1. Scope This Privacy Policy describes how Epicentral Labs, DAO LLC ("Epicentral Labs," "we," "us," or "our") handles information in connection with your use of our **public Interfaces** (websites, dApps, APIs, and smart-contract frontends). This Policy applies to **general users of the Interfaces**. Members, Core Team Members, auditors, service providers, and contractors may be subject to **additional confidentiality, data, and record-keeping obligations** under: * the Operating Agreement; * Membership Joinder Agreements; * NDAs or service agreements. In case of any conflict between this Policy and those agreements, the latter control for the affected parties. *** ## 2. Data We Collect Because our Interfaces are **non-custodial and primarily on-chain**, we aim to minimize collection of personal data. ### 2.1 On-Chain and Technical Data When you use our Interfaces, we may automatically receive: * **Public blockchain data**, such as your Solana wallet address, transactions you broadcast, and program interactions; * **Device and browser information**, such as browser type, operating system, and approximate language/locale; * **Usage analytics**, such as pages visited, time spent, and basic interaction events, via privacy-respecting tools (for example, Plausible or similar) where configured; * **IP address and approximate geolocation**, to the extent necessary to operate the site, prevent abuse, or implement geofencing and sanctions-screening controls consistent with the Operating Agreement and applicable law. ### 2.2 Information You Voluntarily Provide You may voluntarily provide additional information, for example: * when contacting us by email or form; * when participating in governance discussions or community channels; * if you are a Member, Core Team Member, or contractor providing details required for tax or legal compliance (for example, W-9/W-8 forms, legal name, or service address) under Article XII of the Operating Agreement. For ordinary users, we **do not require** personal identity documents or legal names to interact with the protocol. *** ## 3. Data We Do Not Collect (for General Users) For typical use of the Interfaces (e.g., visiting the site and connecting a self-custodied wallet), we do **not**: * request or store private keys, seed phrases, or wallet passwords; * intentionally collect traditional financial account numbers (bank accounts, credit cards, etc.); * require government-issued identification, Social Security numbers, or similar PII **unless** required for a specific regulated service or legal obligation; * maintain a custodial account or off-chain ledger of your balances. If you receive payments **directly from the Company** as a contractor, Member, or core contributor, additional information may be required for **tax and reporting** purposes (for example, IRS Forms 1065, 1099, K-1, W-8/W-9), as described in Article XII of the Operating Agreement. *** ## 4. Cookies and Local Storage We may use **cookies or local storage** for: * basic site functionality (for example, language settings, dark mode, UI preferences); * remembering your wallet connection status or network selection; * privacy-respecting analytics. You can disable cookies in your browser, but some minor UX features may not function optimally. Core protocol interactions (on-chain transactions) remain available as long as you can access the front-end and your wallet. *** ## 5. How We Use Information We may use the information we collect to: * operate, maintain, and improve the Interfaces; * monitor protocol usage at an aggregate level (not linked to real-world identities); * detect, prevent, or respond to fraud, abuse, or security incidents; * comply with sanctions, AML, and other regulatory obligations (for example, blocking access from certain IP ranges or sanctioned jurisdictions); * generate high-level, anonymized metrics for DAO governance and transparency reports; * fulfill tax, accounting, or legal obligations where Epicentral Labs is required to file information returns or maintain records under U.S. or Wyoming law. We **do not sell** personal data to third parties. *** ## 6. Sharing of Information We may share limited information: * **With service providers** (for example, hosting, analytics, or security vendors) who process data on our behalf under appropriate contractual safeguards; * **With legal or regulatory authorities**, if required by law, subpoena, court order, or to protect our rights or users; * **With tax and regulatory bodies**, where required for filings such as IRS or Wyoming state requirements relating to Members or contractors; * **With auditors or legal counsel**, as reasonably necessary to obtain professional advice and compliance review. We do **not** share your private keys or seed phrases with anyone, and we will never ask you to disclose them. *** ## 7. Data Retention * On-chain data is recorded on the Solana blockchain and is **immutable**; we cannot alter or delete those records. * Off-chain records (for example, analytics logs, accounting records, Member and contractor documentation) are retained only as long as reasonably necessary: * to provide services; * to satisfy legal, tax, and regulatory requirements (often at least seven years for accounting/tax records); * to maintain security logs and incident records. Where feasible, we strive to **aggregate or anonymize** data rather than retain user-identifiable records. *** ## 8. Your Rights (GDPR / CCPA and Similar Regimes) Depending on your jurisdiction, you may have certain rights regarding your personal information, such as: * the right to request access to, correction of, or deletion of off-chain personal data we hold about you; * the right to restrict or object to certain processing; * the right to data portability. To exercise these rights with respect to **off-chain** data, you may contact us at:\ **[thelazysol@gmail.com](mailto:thelazysol@gmail.com)** **Important:** On-chain records cannot be altered or erased by us. Your blockchain transactions are immutably stored on the Solana network and are outside our ability to modify. *** ## 9. Security Measures We take reasonable measures to protect off-chain information we control, including: * limiting access to internal systems to authorized personnel; * using encrypted channels (HTTPS/TLS) for data in transit; * maintaining private, secure repositories for sensitive member and operational records, including any confidential channels explicitly excluded from public archiving under the Operating Agreement (for example, certain "Support" or "Operations" channels). **However:** * No system is entirely secure, and we cannot guarantee absolute security of any data transmitted to or from our services. * You are responsible for securing your own devices, browsers, and wallets. *** ## 10. International Data Transfers If you access the Interfaces from outside the United States, you understand that information may be processed in the U.S. or other jurisdictions with different data-protection laws than your own. Where required, we will take steps to ensure an appropriate level of protection, consistent with applicable law. *** ## 11. Children's Privacy The Interfaces are **not directed to children** under the age of 18, and we do not knowingly collect personal information from children. If you believe that a minor has provided us with personal data, please contact us so we can take appropriate action. *** ## 12. Changes to this Privacy Policy We may update this Privacy Policy from time to time. When we do: * we will revise the "Effective Date" at the top; and * we may provide notice via our website, governance forums, or Realms references. Your continued use of the Interfaces after any update constitutes acceptance of the revised Policy. *** ## 13. Contact For privacy questions, requests, or concerns, you may contact: **Epicentral Labs, DAO LLC**\ Email: **[thelazysol@gmail.com](mailto:thelazysol@gmail.com)**\ Mailing: **30 N Gould St Ste R, Sheridan, WY 82801** *** > This **Privacy Policy** is intended to be **consistent with and subordinate to** the **Operating Agreement of Epicentral Labs, DAO LLC** and its Exhibits. In the event of any conflict, the Operating Agreement (as duly amended under its own procedures) will control. (c) 2025 Epicentral Labs, DAO LLC – All Rights Reserved # Terms of Service (/docs/legal/tos) *Effective Date: 11-20-2025* > **Note:** These Terms are **general user-facing policies** for Epicentral Labs' public Interfaces. > Members, [Core Team Members](/docs/epicentral-dao/core-team), auditors, and contractors may be subject to **additional obligations** under the > [**Operating Agreement of Epicentral Labs, DAO LLC**](/docs/legal/oa) and related agreements, which control in the event of any conflict. *** # Terms of Service ## 1. Introduction Welcome to **Epicentral Labs, DAO LLC** ("Epicentral Labs," the "DAO," "we," "us," or "our"). Epicentral Labs operates as a **Wyoming Decentralized Autonomous Organization Limited Liability Company (DAO LLC)**, organized under the **Wyoming Limited Liability Company Act, W\.S. §17-29-101 et seq.** and the **Wyoming Decentralized Autonomous Organization Supplement, W\.S. §17-31-101 et seq.** (the "DAO Act"). These Terms of Service ("Terms") constitute a legally binding agreement between you ("you," "User," or "Participant") and Epicentral Labs governing your use of our websites, decentralized applications, smart contracts, APIs, and related interfaces (collectively, the **"Interfaces"**), including: * **epicentrallabs.com** * **opx.markets** (Options Exchange "OPX") * **stake.opx.markets** (Staking Lab) * **watt.si** (*integration with Watt Protocol, a third-party liquid-staking system; Epicentral Labs does not own or operate Watt Protocol*) * any successor interfaces or on-chain programs designated as Company Accounts or DAO Treasury programs in accordance with the Operating Agreement. Epicentral Labs may provide access to or interoperability with certain **third-party decentralized protocols** (such as Watt Protocol, Orca, Raydium, and others) solely for user convenience. These integrations are **non-custodial** and **independently operated** by third parties. Epicentral Labs neither controls nor endorses their smart contracts, interfaces, or economic outcomes. By accessing or using any Interface, you acknowledge that you have read, understood, and agree to be bound by these Terms. *** ## 2. Legal Nature of Epicentral Labs Epicentral Labs is a **Wyoming DAO LLC** governed by the DAO Act and its **Operating Agreement**, which relies on the **Realms Mechanism** (the Realms Governance Program on the Solana blockchain) for token-based on-chain governance. Key points: * **LABS Token Holders** are *not* Members or managers of the Company and cannot, by holding tokens alone, legally bind the Company. Actions approved through the Realms Mechanism may, however, become binding when implemented by authorized Members and/or the Core Team under the Operating Agreement. * **Members** and **Core Team Members** have the specific roles, authorities, and limitations described in the Operating Agreement, including acting through designated **Company Accounts**, the **DAO Treasury**, and the **Core Team Multisig Wallet**. All programs and Interfaces are designed to operate in a **non-custodial** manner and **without unilateral discretionary human control over user assets**. Governance and parameter changes are processed through the **Realms Mechanism**, subject to voting periods, execution delays, and upgrade-authority safeguards described in the Operating Agreement. Nothing in these Terms creates any joint venture, agency, employment, or fiduciary relationship between you and Epicentral Labs. *** ## 3. Eligibility and Acceptance By using any Interface, you represent and warrant that: * You are at least 18 years old and legally capable of entering into binding agreements; * You are not a resident of, or located in, any jurisdiction where use of blockchain protocols or decentralized exchanges is prohibited; * You are not subject to any sanctions or restrictions imposed by the **U.S. Department of the Treasury (OFAC)**, **FinCEN**, or any other applicable authority; * You have full authority and capacity to interact with blockchain-based smart contracts using a self-custodied wallet; * You understand that **holding LABS, xLABS, or any other token used by the protocol does not make you a Member or grant any equity or ownership interest in the Company.** Your continued use of any Interface constitutes acceptance of these Terms and all future amendments. *** ## 4. Non-Custodial Architecture Epicentral Labs Interfaces interact exclusively with **autonomous, non-custodial smart contracts**: * You connect via a compatible Solana wallet (e.g., Phantom, Backpack, or similar). * You maintain **exclusive control** over your assets and private keys. * Epicentral Labs and its Members/Core Team **cannot access, transfer, freeze, or reverse your transactions**. * All operations are **user-initiated** and executed directly on-chain via deterministic program logic. You acknowledge that blockchain transactions are **irreversible** and that **you are solely responsible** for safeguarding your wallet, keys, and devices. *** ## 5. No Financial, Legal, or Tax Advice; No Investment Offering Epicentral Labs provides **blockchain software** and **governance tooling**. Nothing provided by Epicentral Labs—whether through Interfaces, documentation, code repositories, social channels, or communications—constitutes: * financial, investment, trading, or tax advice; * an offer to sell or solicitation to buy any security, swap, or other financial instrument; * a recommendation to engage in any specific transaction or strategy. Tokens associated with the protocol, including **LABS**, **xLABS**, and any wrapped or derivative tokens supported by the protocol: * are intended as **governance and utility tokens**; * **do not represent equity, ownership, or profit rights** in Epicentral Labs, DAO LLC; * **do not entitle holders to dividends or guaranteed returns**, and are designed to avoid classification as "securities" under U.S. law, as set forth in the Operating Agreement and its regulatory Exhibits. You are solely responsible for your own financial, legal, and tax decisions. You should consult your own independent advisors. *** ## 6. Fees and Revenue Epicentral Labs may collect **protocol-level fees** to sustain operations, maintain liquidity, support governance, and fund security and infrastructure initiatives. These fees are **programmatic**, **non-custodial**, and embedded in smart-contract logic. ### 6.1 Fee Types | Fee Type | Description | | ------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Protocol Fees** | Fixed or parameterized charges on specific on-chain operations (for example: trade execution, staking, un/staking, wrapping/unwrapping, or liquidity routing), as defined by governance-mutable parameters under the Operating Agreement. | | **DAO Treasury Allocations** | A portion of collected protocol fees may automatically flow to **DAO Treasury** Company Accounts for the collective benefit of the DAO, including development, infrastructure, audits, security, and governance-approved initiatives. | | **Core Team / Multisig Allocations** | Under the Operating Agreement and **Exhibit F**, a defined share of total protocol fees is programmatically allocated to the **Core Team Multisig Wallet** for: **Core Team Member Distributions** (currently **20% of total fees** as a Core Team Member Allocation) and **Operational costs** (e.g., infrastructure, hosting, development, legal, security). The **internal ratio** among Core Team Members, and the exact fee-distribution waterfall, are governed by the Operating Agreement and may be updated only in accordance with its amendment and governance procedures. These allocations are **compensation for services and operations**, do **not** create any right to profits for token holders, and are **not** dividends or investment returns. | | **Third-Party Integrations** | Fees arising from integrations with external protocols (for example, oracles, liquidity pools, margin or lending protocols) are collected automatically and distributed per the relevant protocol's parameters. Epicentral Labs does not control the fee logic of such third-party contracts. | ### 6.2 No Hidden Fees * All fee structures are encoded in on-chain programs and/or documented in Interface documentation. * Epicentral Labs does **not** maintain an off-chain, identity-linked ledger of user-specific transaction data; all essential transaction data is already public on Solana. * Any additional off-chain accounting relates to **Company-level** reporting (for example, treasury accounting, Member reimbursements, tax reporting) and not to custodial balances for Users. *** ## 7. Intellectual Property All content, trademarks, source code (except as otherwise licensed), and documentation appearing on the Interfaces are the property of **Epicentral Labs, DAO LLC** or its contributors, unless otherwise stated. You are granted a **limited, revocable, non-exclusive license** to access and use the Interfaces solely for lawful purposes. You may not: * copy, modify, or reverse-engineer the Interfaces except as allowed by applicable open-source licenses; * use the brand names **"Epicentral Labs," "OPX," "Staking Lab," or "wattLABS"** for commercial purposes without authorization; * remove or obscure any copyright, trademark, or attribution notices. Open-source code in the **Epicentral Labs GitHub organization** is licensed under the terms specified in the relevant repository. *** ## 8. Prohibited Activities You agree not to use any Interface for: * any activity that violates applicable laws, regulations, or sanctions; * attempting to gain unauthorized access to smart contracts, Company Accounts, or administrative systems; * deploying exploits, bots, or malicious code; * money laundering, terrorist financing, or other illicit financial activity; * market manipulation, including front-running, sandwich attacks, or wash trading; * circumventing geofencing, sanctions screening, or other compliance filters implemented pursuant to the Operating Agreement and applicable law. Epicentral Labs reserves the right to restrict or disable access to any Interface to comply with law or in response to unlawful behavior. *** ## 9. Disclaimers of Liability All Interfaces, protocols, and smart contracts are provided **"AS IS" and "AS AVAILABLE."** Epicentral Labs makes **no warranties**, express or implied, regarding accuracy, functionality, availability, security, or fitness for a particular purpose. You acknowledge that: * Smart contracts may contain bugs, vulnerabilities, or downtime. * Blockchain transactions are irreversible and may be lost due to user error, network failure, or third-party exploits. * Oracle or price-feed data may be manipulated, unavailable, or incorrect. * Epicentral Labs is not responsible for losses arising from forks, network congestion, third-party providers, exploits, or your own mismanagement of keys or devices. To the maximum extent permitted by law, Epicentral Labs disclaims all liability for any direct, indirect, incidental, special, or consequential damages, including loss of assets, data, use, or goodwill. ### 9A. Risk and Security Disclaimers 1. **Blockchain Risks** Transactions on the Solana blockchain are irreversible and may be affected by congestion, forks, validator failures, or network attacks. 2. **Smart-Contract Risks** OPX, the Staking Lab, wrapping/unwrapping mechanisms, and all related programs are **experimental autonomous programs**. They may contain **defects or vulnerabilities** that could result in partial or total loss of assets. 3. **Market Risks** Digital-asset prices are volatile. Participation in options, staking, liquidity, or reward programs can result in **loss of value**, including a total loss of your position. 4. **Security of Credentials** You are solely responsible for maintaining the confidentiality and security of your wallet credentials (private keys, seed phrases, passwords, device security, etc.). Epicentral Labs **cannot recover** lost keys or reverse compromised transactions. 5. **No Performance Guarantee** Epicentral Labs does **not guarantee**: * uninterrupted or error-free access to Interfaces; * future compatibility with any wallet, network, or protocol; * any economic outcome, APR, APY, or yield level. 6. **Third-Party Risks** Integrations with third-party protocols (including, without limitation, Watt Protocol, Orca, and Raydium) introduce additional smart-contract and market risks that are **outside Epicentral Labs' control**. ### 9B. Third-Party Integrations and External Protocols Interfaces may enable or reference connections to third-party protocols: * Such protocols are **independent** and are not subsidiaries or affiliates of Epicentral Labs. * Interactions with those protocols occur **directly between you and those third parties** through on-chain instructions. * Epicentral Labs does **not audit, control, or guarantee** their performance, security, legality, or regulatory status. * Your use of any third-party protocol is at your **sole risk** and is subject to that protocol's own terms and privacy policies. * You agree to **indemnify and hold harmless** Epicentral Labs, DAO LLC, its Members, and Core Team Members from any claim or liability arising from your use of third-party protocols. ### 9C. Security Disclaimer (Explicit) > **Security Disclaimer:** > > * The protocols, smart contracts, and Interfaces operated or governed by Epicentral Labs are **experimental and non-custodial**. > * Even where internal reviews or third-party audits are performed pursuant to the Operating Agreement, **no audit or review can guarantee the absence of vulnerabilities**. > * Upgrade authority is held by the **DAO Treasury** and is exercised **only pursuant to approved Realms governance proposals**, subject to code-review and transparency requirements. No individual Member or Core Team Member may unilaterally upgrade programs or alter user balances. > * By using the Interfaces, you acknowledge and accept that **you bear all risks** of interacting with autonomous smart contracts, including risks from bugs, hacks, economic attacks, and governance decisions. > * You should only interact with the protocols if you fully understand these risks and can tolerate the possibility of **total loss** of any assets you choose to transact with. *** ## 10. Privacy Policy (Overview) Epicentral Labs values transparency and minimal data collection. Because our Interfaces are **non-custodial and on-chain**, we generally **do not require or request personal information** from ordinary users (for example, names, government IDs, or postal addresses) to access or interact with the core protocol. A more detailed **Privacy Policy** appears in the section titled **"Privacy Policy"** below and is incorporated into these Terms by reference. *** ## 11. Compliance and Sanctions Epicentral Labs complies with applicable **U.S. federal laws** and **Wyoming state regulations**, including: * Wyoming DAO Act and LLC Act; * Bank Secrecy Act and FinCEN guidance, to the extent applicable to non-custodial architectures; * OFAC sanctions programs; * Commodity Exchange Act and Securities Exchange Act of 1934, to the extent applicable. The Operating Agreement authorizes the DAO to implement **front-end or interface-level controls** such as: * IP-based geofencing; * sanctions and address screening; * address-risk filters; * other feature-specific access or distribution controls required by law. Epicentral Labs is a **non-custodial software provider** and does not act as a money transmitter, broker-dealer, futures commission merchant, or investment adviser solely by operating or upgrading its non-custodial smart contracts. You are solely responsible for ensuring your activities comply with your local laws and regulations. *** ## 12. Limitation of Liability To the maximum extent permitted by law, Epicentral Labs, DAO LLC, its Members, Core Team Members, contractors, or affiliates shall **not be liable** for any indirect, incidental, special, consequential, or punitive damages, including loss of assets, profits, revenue, goodwill, or data, arising out of or relating to: * use of, or inability to use, the Interfaces; * smart-contract execution or failure; * blockchain network issues or forks; * reliance on on-chain or off-chain data (including oracles and analytics); * actions or inactions by third-party protocols or service providers. Your **exclusive remedy** is to discontinue use of the Interfaces. *** ## 13. Indemnification You agree to indemnify and hold harmless **Epicentral Labs, DAO LLC**, its Members, Core Team Members, and authorized agents from and against any and all claims, liabilities, damages, losses, and expenses (including reasonable attorneys' fees) arising out of or related to: * your violation of these Terms; * your misuse or unauthorized use of any Interface; * your violation of any applicable law or regulation; * your interaction with third-party protocols via the Interfaces. *** ## 14. Dispute Resolution Any dispute, claim, or controversy arising out of or relating to these Terms or your use of Epicentral Labs' Interfaces shall be resolved by **binding arbitration** under the rules of the **American Arbitration Association (AAA)** (or another mutually agreed arbitration body): * Arbitration will be conducted **confidentially**, in **English**, seated in **Cheyenne, Wyoming, USA**. * A single arbitrator will preside, and their decision will be **final and binding**. * Each party will bear its own costs unless the arbitrator decides otherwise. Nothing in this section limits any mandatory arbitration or dispute-resolution requirements that apply specifically to Members or Core Team Members under the Operating Agreement. *** ## 15. Governing Law These Terms shall be governed by and construed in accordance with the **laws of the State of Wyoming**, including the DAO Act and LLC Act, without regard to conflict-of-law rules. To the extent federal law applies, **U.S. federal law** shall govern. *** ## 16. Modifications Epicentral Labs may modify or update these Terms at any time. Changes become effective upon posting to an official website or a publicly referenced decentralized storage link (for example, IPFS) and may also be referenced through the Realms Mechanism for transparency. Continued use of any Interface following publication constitutes acceptance of the revised Terms. *** ## 17. Contact Information **Epicentral Labs, DAO LLC**\ Registered in Wyoming, United States\ Legal & Compliance Mailing: **30 N Gould St Ste R, Sheridan, WY 82801**\ Official Website: **[https://epicentrallabs.com](https://epicentrallabs.com)** *** ## 18. Regulatory Safe Harbor Statement ### 18.1 Purpose This section summarizes how Epicentral Labs' core activities and Interfaces are designed to operate as **non-custodial, autonomous software systems** within applicable statutory and regulatory exemptions, consistent with the Operating Agreement's **Regulatory Safe Harbor** and related Exhibits. ### 18.2 Autonomous Programs and Upgrade Authority All core programs—including OPX, the Staking Lab, and wrapping/unwrapping mechanisms—are treated as **Autonomous Programs**: * They are self-executing smart contracts deployed on Solana. * **Upgrade authority** is held by the **DAO Treasury Wallet**, not by any individual. * Any upgrade must be: * authorized via a vote under the Realms Mechanism; * subject to minimum voting and delay periods; * accompanied by specified disclosures (program IDs, commit hashes, and any available audit or review references). No person, Member, or Core Team Member may **unilaterally** modify, pause, or replace a deployed program or alter user balances outside these governance procedures. ### 18.3 Non-Custodial Architecture All Interfaces are architected so that Users retain **exclusive cryptographic control** of their digital assets. The Company, its Members, and Core Team Members do **not**: * take custody of user funds; * intermediate or broker trades between Users; * exercise order-routing discretion for Users; * provide individualized investment recommendations. Accordingly, Epicentral Labs is not, solely by virtue of operating non-custodial code: * a money transmitter; * a broker or dealer; * an investment adviser; * a futures commission merchant or derivatives intermediary. ### 18.4 Protocol-Level Fees Only Any revenue collected arises solely from **fixed or parameterized protocol-level fees** embedded in smart-contract logic. These fees represent **payment for software usage and interoperability**, and **not** compensation tied to: * token appreciation; * investment returns; * pooled profits; * the entrepreneurial or managerial efforts of others. ### 18.5 Transparency, Sanctions, and Guardrails Epicentral Labs: * maintains a registered agent and required Wyoming filings; * documents upgrade and governance procedures publicly; * may implement geofencing, sanctions screening, and other compliance controls on Interfaces where required; * does not enable **retail leveraged or margined commodity transactions** for U.S. persons without appropriate registration, exemption, or other legal basis. ### 18.6 No Securities, Swaps, or Investment Contracts Epicentral Labs expressly disclaims the offering or issuance of **securities, swaps, or investment contracts**. All tokens used in the ecosystem (including **LABS**, **xLABS**, and any protocol-specific wrappers) are intended as **governance and utility tokens** used for: * voting and proposals via the Realms Mechanism; * staking and participation tracking; * protocol-level incentives and fee rebates. They are **not** equity, are **not** promises of profit, and are designed to fall outside the Howey test criteria as described in the Operating Agreement's regulatory Exhibits. ### 18.7 User Acknowledgment By using any Interface, you acknowledge that: * you interact directly with open-source, non-custodial smart contracts **at your own risk**; * no party guarantees returns, profits, or performance; * you are responsible for understanding and complying with the laws of your own jurisdiction. > This **Terms of Service** is intended to be **consistent with and subordinate to** the **Operating Agreement of Epicentral Labs, DAO LLC** and its Exhibits. In the event of any conflict, the Operating Agreement (as duly amended under its own procedures) will control. (c) 2025 Epicentral Labs, DAO LLC – All Rights Reserved # The Staking Lab (/docs/staking-lab) # Stake LABS. Mint xLABS. **The Staking Lab** is a platform that allows you to stake **LABS** governance tokens to mint **xLABS** reward tokens. **xLABS** can then be *redeemed* for rewards from the **Reward Pool** *(Coming Soon)*. The Staking Lab documentation is organized into two main sections: **User Guide** for step-by-step instructions on using the platform, and **For Developers** for technical documentation about the Staking Program implementation. User Guide} description="Learn how to stake LABS and mint xLABS." href="/docs/staking-lab/user-guide" /> For Developers} description="Learn the inner workings of the Staking Program and how it works." href="/docs/staking-lab/staking-program" /> # User Guide (/docs/staking-lab/user-guide) import { Step, Steps } from '@/components/steps'; # Staking ### Connect Wallet On the [stake.opx.markets](https://stake.opx.markets) page, connect your wallet. Connect Wallet ### Approve Connection Approve the connection request from the Staking Lab. This one-time approval lets the Staking Lab view your wallet address and prompt you to sign transactions. Approve Connection ### Stake LABS Click the "**Stake LABS**" button to stake (deposit) your LABS tokens into the Staking Lab. Stake LABS ### Confirm Transaction Here you can input the amount of LABS you want to Stake (or click your available balance to deposit all). Confirm Transaction There is a **refundable fee** of **0.0015 SOL** for first-time staking. This covers the rent required for the `StakeAccount` created for you. RefundableFees ### View Staked Balance You can view your staked balance under "Current Stake" and the receipt on your stake should populate under "Transaction History". Current Stake *** # Unstaking ### Unstake LABS Click the "**Unstake LABS**" button to unstake (withdraw) your LABS tokens from the Staking Lab. Unstake LABS Unstaking will immediately stop earning rewards on the **withdrawn amount**. Make sure this is what you want to do. ### Confirm Transaction Here you can input the amount of LABS you want to Unstake (or click your full staked balance to withdraw all). Confirm Transaction `StakeAccount` rent is **not** refunded for partial-unstake. **0.0015 SOL** is *only* refunded for **full-unstake**. #### Partial-Unstake Partial unstake **will not** refund the 'StakeAccount' rent. No Refund #### Full-Unstake Full unstake **will** refund the 'StakeAccount' rent and claim and pending rewards. Full Refund # Minting ### Mint xLABS Minting xLABS depends largely on the amount of LABS you have staked and the protocol-set **Emission Rate.** This happens over time where the longer you stake, the more xLABS you can mint. This is calculated autonomously using the [Reward Calculation System](/docs/staking-lab/staking-program/reward-calculation-system) defined in the Staking Program. Mint xLABS xLABS are only **minted** after you have "**Claimed**". **No protocol fees** are taken when **minting** xLABS. # Claiming ### Claiming xLABS Click the "**Claim xLABS**" button to claim your xLABS tokens. Claim xLABS **No protocol fees** are taken when **claiming** xLABS. ### Confirm Transaction Here you can input the amount of xLABS you want to Claim (or click your available balance to claim all). Confirm Transaction You may notice **the amount of xLABS shown in your simulated transaction doesn't match what you actually receive**. This happens because you continue accumulating xLABS during the claiming process (while you sign and approve the transaction). As a result, by the time the transaction executes, you'll receive more xLABS than the simulated amount. # Redeem Rewards Redeeming Rewards is done using xLABS. It is the process of **spending your xLABS** to redeem rewards from the **Reward Pool**. *This is a feature still in development and will be available closer to the launch of OPX on mainnet.* # LABS (/docs/tokens/labs-token) | Token | Address | | -------- | --------------------------------------------------------------------------------------------------------------------------------------------- | | **LABS** | [`LABSh5DTebUcUbEoLzXKCiXFJLecDFiDWiBGUU1GpxR`](https://cabana.exchange/token/LABSh5DTebUcUbEoLzXKCiXFJLecDFiDWiBGUU1GpxR?partner=Epicentral) | # Governance & Voting LABS provides direct on-chain governance capabilities to utility for Epicentral DAO. The DAO operates on a fully democratic basis: community members actively shape the future of the protocol by submitting proposals and casting votes on key initiatives. Members who hold and stake greater amounts of LABS tokens receive increased voting power, rewarding commitment and encouraging deeper alignment with the protocol. This structure ensures that decisions reflect the interests of the most engaged participants. 1 LABS Token = 1 Vote Power LABS token holders are responsible for the following decisions: * Determining which assets become eligible for trading on the OPX protocol * Voting on the introduction of new features and improvements to the protocol * Setting governance parameters and refining the operational structure of the DAO For details about submitting governance proposals and participating in DAO decisions, see the [governance](/docs/epicentral-dao) page. *** # Tokenomics July 28th, 2024 | Parameter | Description | | -------------------- | --------------------------------------------------------------------------------------------------------------------- | | **Token Name** | Epicentral Labs | | **Symbol** | LABS | | **Blockchain** | Solana | | **Token Address** | [`LABSh5DTebUcUbEoLzXKCiXFJLecDFiDWiBGUU1GpxR`](https://solscan.io/token/LABSh5DTebUcUbEoLzXKCiXFJLecDFiDWiBGUU1GpxR) | | **Max Supply** | 54,652,600 LABS | | **Decimals** | 9 | | **Jupiter Verified** | Yes | *** ## Allocations The total supply of **54,652,600 LABS** tokens is distributed across six allocation categories, each serving a specific purpose in the protocol's growth and governance structure. November 26th, 2025 | Allocation Category | Amount (LABS) | Vesting Status | Vesting Period | Vesting Contract | | ------------------------------ | :-----------: | :-----------------: | :------------: | :------------------------------------------------------------------------------------------------------------------- | | Initial Liquidity | 27,326,300 | Fully Distributed ✅ | None | None. Liquidity was burned at launch. | | DAO DeFi Incentives | 10,930,520 | Fully Distributed ✅ | 14 Months | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/4xcfeTFsJtHJqMy4D7JKuwFeAhg1SeRoBF86M1jtnNJ7) | | DAO Treasury | 8,744,416 | Fully Distributed ✅ | 13 Months | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/FJpB3T4Y73XRrK98VFH7VowR3x1yGpjEUXsuNm841yjo) | | Core Team & Early Contributors | 3,279,156 | Fully Distributed ✅ | 17 Months | [Core Team Vesting Contracts](#core-team-vesting-contracts) | | DAO Marketing | 2,732,630 | Fully Distributed ✅ | 3 Months | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/EgDxcfuDwCXhrrfczia9bFEvCtc2cUGqHZwr2bPWDqXT) | | DAO Contributor Bonuses | 1,639,578 | Fully Distributed ✅ | 8 Months | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/BcDHvTezFGL1iSooz682FjVUnUqTFcZ3PY4aaAYxRctP) | ### Allocation Details Initial liquidity was allocated and burned at launch and put into the [Raydium LABS-USDC CPMM Liquidity Pool](https://solscan.io/account/3wxhFgvVYGStoQj3XvMArNQF66WamWcVy4EgwBJfK1bM), ensuring no additional tokens can enter circulation from this allocation. Reserved for protocol incentives, liquidity mining programs, and DeFi integrations. Controlled by the [Epicentral DAO](/docs/epicentral-dao), used for strategic initiatives, partnerships, and protocol development. All disbursements require community approval through governance proposals. Distributed across 12 vesting contracts to team members and early contributors. The Core Team & Early Contributors allocation is distributed across 12 individual vesting contracts: | Contract | Vesting Status | Contract Link | | ----------- | :-----------------: | :------------------------------------------------------------------------------------------------------------------- | | Contract 1 | Fully Distributed ✅ | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/8QNcH3ui247mK6xaBwZKm821WRz7FhbUVqPjRE92nBvR) | | Contract 2 | Fully Distributed ✅ | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/Hd74wLhrnMA761C8RseEhu3P9YCdNZSn9ZUhbnoRXsvR) | | Contract 3 | Fully Distributed ✅ | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/2Wra67QP34TzFYWfdN71f1CiEF3BWVd7cCyKrvDb6eAv) | | Contract 4 | Fully Distributed ✅ | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/HZwSTiBFXBmjbLeeLkid8KB2SP59tNEHA7sj9TXoVHRx) | | Contract 5 | Fully Distributed ✅ | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/GTP1PPsjQrJAWB1tUqfyFrtDCzBKFjLyXWbQQwEhGH52) | | Contract 6 | Fully Distributed ✅ | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/JCLcL3mZuBPwQdY61qxaUVxWh7f2UDyPaWuHBwYzoTFt) | | Contract 7 | Fully Distributed ✅ | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/26CeyQhirDizgSrN5rNTr3Fs7zonHqiYhmEoU9sDEXWb) | | Contract 8 | Fully Distributed ✅ | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/ETyJaZsKUQbjsjJn4Q66GidvhBVxxjmdJshEUAXLUmhM) | | Contract 9 | Fully Distributed ✅ | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/ECeE5kMPMyA8QAsjv8DYf5NERQYVgNDzw8etMPiwxwjm) | | Contract 10 | Fully Distributed ✅ | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/FQTMadFjGoTrENATn5iaAYgpdXmEMy1KQAzLr1ADbTzK) | | Contract 11 | Fully Distributed ✅ | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/P8oBYnNE1o6j7abiMLeDe4xnxxxfw2yrbQRmxLz2dtx) | | Contract 12 | Fully Distributed ✅ | [View Contract](https://app.streamflow.finance/contract/solana/mainnet/EzFAbwy8fTwbZwpkoRJ69E9boANiqzgR21ioLnFMLdpz) | Allocated for marketing initiatives, community growth programs, and ecosystem expansion efforts. Managed through [Epicentral DAO](/docs/epicentral-dao) treasuries. Reserved for rewarding exceptional community contributions, bug bounties, and special recognition programs. Distribution determined through governance proposals. All vested allocations utilize on-chain [vesting contracts](https://www.investopedia.com/terms/v/vesting.asp), ensuring full transparency and verifiability of token release schedules. The protocol implements vesting schedules to ensure long-term alignment of stakeholder interests and prevent immediate sell-offs that could destabilize the token's value. The protocol created all vesting schedules as immutable contracts via [Streamflow](https://streamflow.finance/). The vesting contracts are immutable and cannot be modified or canceled. At the time of writing, all vesting contracts are fully distributed. The above is for information purposes only. *** The LABS token is **not** a security. The token does not grant equity, governance rights, dividends, or any claim on financial returns. LABS exists solely as a utility token within the Epicentral Labs ecosystem. It is the responsibility of all purchasers and holders to comply with applicable local regulations and to conduct appropriate due diligence prior to participating. # wattLABS (/docs/tokens/wattlabs-token) ## WATT is wattLABS? **wattLABS** (powered by [Watt Protocol](https://watt.si/)) is an optional, wrapped version of LABS that offers additional on-chain flexibility without altering the underlying LABS token or its supply. Converting LABS into wattLABS is a reversible, 1:1 process—holders can unwrap back into LABS at any time. Once wrapped, **wattLABS** can be used across supported Solana applications. This includes providing liquidity on Raydium and connecting to the Watt Protocol, which operates autonomously to balance markets through algorithmic, non-speculative arbitrage. ## The Future of wattLABS? We aim to enable seamless interaction of **wattLABS** with [The Staking Lab](/docs/staking-lab) to expand composability and utility for both—not to offer profits, dividends, or expectations of financial return. In short, wattLABS enhances LABS’ functional reach across Solana without changing what LABS is—preserving its base characteristics while enabling broader, optional utility. **wattLABS** simply gives LABS holders more ways to participate in decentralized systems while retaining direct control of their tokens. # xLABS (/docs/tokens/xlabs-token) | Token | Address | | --------- | ----------------------------------------------------------------------------------------------------------------------------------------------- | | **xLABS** | [`7B2tQy8DwYt6aXHzt6UVDuqBB6WmykyZQodLSReQ9Wcz`](https://cabana.exchange/token/7B2tQy8DwYt6aXHzt6UVDuqBB6WmykyZQodLSReQ9Wcz?partner=Epicentral) | # Rewards Token **xLABS** is the on-chain reward token that the [Staking Lab](/docs/staking-lab) issues to participants who stake [LABS](/docs/tokens/labs-token) tokens. The token serves as a proof-of-stake accounting unit that tracks the length of time a user has staked LABS in the [Staking Lab](/docs/staking-lab). *** # Purpose Epicentral Labs designed xLABS to separate governance from participation-based compensation. Staking LABS produces xLABS; holding or transferring xLABS allows participants to decide how, when, and if they engage with the [Rewards Program](/docs/staking-lab). Users mint xLABS solely through the [Staking Lab](/docs/staking-lab) when they stake [LABS](/docs/tokens/labs-token), following the predetermined emission logic defined in the protocol code. xLABS emissions remain independent from protocol revenue, fee performance, token price, or any other financial metric. Protocol logic mints xLABS regardless of the number of tokens or assets in the Rewards Program pool. xLABS functions as a transferable participation credential that quantifies and weighs each user's engagement with [Epicentral DAO](/docs/epicentral-dao) governance and other verifiable contributions. Holding xLABS grants no rights or claims to profits, dividends, revenue share, equity, debt, redemption value, or any economic return. The Rewards Program does not create pro-rata, passive, or automatic entitlement to protocol revenue. Each participant must actively engage with the program to access rewards. Merely holding LABS or xLABS never qualifies anyone for distributions, yields, or financial benefits. The Rewards Program exclusively incentivizes engagement rather than investment returns. ## Why This Structure Exists The [Epicentral DAO](/docs/epicentral-dao) required a mechanism that: * Recognizes governance participation without implying a capital interest * Allows users to realize participation-based rewards without selling LABS * Avoids investment-return expectations, dividend-like language, or buyback semantics * Maintains compliance with U.S. securities jurisprudence and the Howey Test by eliminating reliance on the managerial efforts of others, profit guarantees, or redemption rights ## How xLABS Works ``` Stake LABS → Receive xLABS → Use or transfer xLABS as desired ``` When participants stake LABS through the [Staking Lab](/docs/staking-lab), the [Staking Program](/docs/staking-lab/staking-program) mints xLABS at an emission rate that the [Epicentral DAO](/docs/epicentral-dao) sets through the [Realms governance platform](/docs/epicentral-dao). The [Reward Calculation System](/docs/staking-lab/staking-program/reward-calculation-system) determines the amount of xLABS that participants can claim based on their staked amount and time staked. Stakers retain full governance power because their LABS remain staked and under their custodial control. xLABS may be transferred, sold, or swapped without unbinding governance power. When participants unstake LABS, the [Staking Program](/docs/staking-lab/staking-program) halts xLABS minting. There is no cooldown period for unstaking, and users may stake again at any time. ### What xLABS Is Not xLABS is not: * A dividend * An equity interest * A buyback instrument * An investment contract * Evidence of profit rights or revenue ownership The [Epicentral DAO](/docs/epicentral-dao) expressly prohibits classification of xLABS as any of the above, and it does not repurchase xLABS from holders. *** # Tokenomics | **Parameter** | **Details** | | ------------------ | ------------------------------------------------------------------------------------------------------------ | | **Token Name** | Epicentral Labs Rewards Token | | **Symbol** | xLABS | | **Token Address** | \[FILL] | | **Initial Supply** | 0 – The protocol creates xLABS exclusively through staking events; it begins with no tokens in circulation. | | **Maximum Supply** | Unlimited – The [Staking Program](/docs/staking-lab/staking-program) mints xLABS dynamically as users stake. | | **Decimals** | 9 | | **Emission Rate** | Adjustable by [Epicentral DAO](/docs/epicentral-dao) via [Realms governance platform](/docs/epicentral-dao). | ## Allocations xLABS has no pre-allocated supply or vesting schedules. The [Staking Program](/docs/staking-lab/staking-program) mints the token dynamically as participants stake LABS tokens through the [Staking Lab](/docs/staking-lab). The [Epicentral DAO](/docs/epicentral-dao) determines and adjusts the emission rate through [governance proposals](/docs/epicentral-dao/governance-process). *** # Key Takeaways | **Element** | **LABS** | **xLABS** | | -------------- | ------------------------------------------------------------- | ---------------------------------------------- | | Primary Role | Governance Token | Rewards Token | | Transferable? | Yes | Yes | | Minting | Fixed supply | Emitted by [Staking Lab](/docs/staking-lab) | | Rights Granted | Voting via [Realms governance platform](/docs/epicentral-dao) | Access to [Rewards Program](/docs/staking-lab) | | Classification | Utility governance token | Proof-of-stake reward token | *** # Calls & Puts (/docs/opx/option-basics/calls-and-puts) # Option Types This page covers the basic foundation of **Call Options** and **Put Options**, how they work, and whether going **Long** or **Short** would be beneficial to a trader's position. *** ## Long Options (Buyer-side) A **Long Options** gives the buyer the right, but not the obligation, to buy the underlying token at a set price, called a Strike Price, within a specific time period. Purchasing Long Options is like purchasing a movie ticket: When buyers purchase the ticket, they receive the right to enter the theatre. Technically, a buyer who goes Long also has the right to sell the option position outright to exit and realize any gains or losses. There is no requirement to wait until the expiration date. Buyers have no obligation to stay and watch the whole movie if it is not enjoyable. They can exit the position whenever they desire. For example, if someone buys the last movie ticket for a specific showing, that ticket can be sold to someone else for profit if desired. Option contracts work the same way: a trader may sell a position to realize profits or losses. A Long Call means the trader specifically purchased a Call Option, typically representing a bullish stance.
Long Call Option PNL Chart Long Call Option PNL Chart
The PNL Chart above provides a generalized sense of a long call option when the token price increases. As the value of the token rises, so does the value of the Call Option. Buyers realize profit from the increasing token value without owning the token itself. As an Option Buyer, traders limit their risk to the amount they pay as Premium for the option contract. A Long Put means the trader purchased a Put Option, usually reflecting a bearish stance.
Long Put Option PNL Chart Long Put Option PNL Chart
The PNL Chart above provides a generalized sense of a long put option when the token price decreases. As the value of the token goes down, the value of the Put Option goes up. Buyers realize profit from a decrease in token value without owning the token directly. Put option value generally moves inversely to the token’s price. *** ## Short Options (Seller-side) The "Long Call" and "Long Put" options referenced above represent the **buyer's** perspective. Now, let's discuss options from the **seller's** perspective. Sellers are [market makers](https://www.citadelsecurities.com/what-we-do/what-is-a-market-maker/)—without them there would be no options contracts to purchase. They are Options Writers who create **Short Options.** Unlike buyers—who are **NOT** obligated by the options contract—sellers **ARE** obligated by the options contract. Selling Short Options is like being a theater owner who sells movie tickets. The owner collects money upfront but must honor the ticket if the buyer shows up—they are obligated to provide entry regardless of how popular the movie becomes. Regardless of the token price, sellers must purchase the underlying token at a specified price **if/when** their option position is **assigned** or expires. This is known as [**Assignment**](/docs/opx/option-basics#terminology). Although selling options carries more risk than buying, sellers write contracts because buyers pay them a [**Premium**](/docs/opx/option-basics#terminology) over time. As expiration approaches, the premium earned per hour increases—like a complicated game of ["chicken"](https://www.collinsdictionary.com/us/dictionary/english/play-chicken). If the buyer chooses not to exercise the option contract, the seller keeps the **full** premium—similar to how a theater owner keeps the ticket price when a customer doesn't show up. A **Short Call** means traders sell a Call Option. This reflects a bearish stance since traders *anticipate* the underlying token price will *decrease*. Traders sell the contract with a [**Premium**](/docs/opx/option-basics#terminology) to buyers who anticipate the underlying asset will increase—like a theater owner selling tickets for a movie they expect will be unpopular.
Short Call Option PNL Chart Short Call Option PNL Chart
The **PNL Chart** above provides a generalized sense of a short **call** option. As the value of the token increases, the value of the call option decreases. Sellers realize profits from decreasing token value without owning the token itself. A **Short Put** means traders sell a Put Option. This reflects a bullish position since traders anticipate the underlying token price will *increase*. Similar to the Short Call, traders sell a Put Option to buyers and earn the Premium over time if the underlying price *increases*—like a theater owner selling tickets for a movie they expect will be popular.
Short Put Option PNL Chart Short Put Option PNL Chart
The **PNL Chart** above provides a generalized sense of a short **put** option. As the value of the token increases, the value of the put option also increases. Sellers realize profits from increasing token value without owning the token itself. # Learning the Foundation (/docs/opx/option-basics) # Learning the Foundation **Options - For Starters** offers a concise introduction to options, covering why traders use them and how Epicentral Labs continues to provide relevant educational content and trading strategies throughout the documentation. Epicentral Labs aims to ensure that traders from every background can clearly understand the essentials of options trading. Let’s begin with the basics! ## Prerequisites Understanding options can challenge newcomers, especially those who have not encountered these concepts before. The introductory guides in this section help provide a general framework for how derivatives trading functions. To measure readiness, every trader should be able to clearly explain the following core concepts: | Concept | Brief Description | | ----------------------------- | --------------------------------------------------------------------------------------------------------- | | Bid/Ask | The price a buyer is willing to pay (bid) versus the price a seller asks. | | Bullish/Bearish or Long/Short | Bullish means expecting price increase (long); bearish means expecting price decrease (short). | | Market Order | An order to buy/sell immediately at current market prices. | | Limit Order | An order to buy/sell at a specified price or better. | | Stop-Loss Order | An order that automatically sells or buys once price hits a specific threshold, minimizing possible loss. | | Hedging | Using financial instruments to reduce potential losses. | | Financial Derivatives | Contracts whose value is based on the performance of an underlying asset. | ## What are Options? Option contracts act as financial derivatives for an underlying asset or token. An option represents an agreement between a **buyer** and a **seller** to potentially transact at a predetermined date (the expiration date) and price (the **strike price**).

Traders use options primarily for price speculation, for hedging positions, and for generating additional income.

Traders may also combine multiple contracts—referred to as "legs"—to create complex spread positions and manage portfolio risks.

Options offer both flexibility and diversity, enabling traders and investors to further diversify their strategies and manage market exposure. ## Options: Traditional Finance (TradFi) vs Decentralized Finance (DeFi) Options trading and options pricing are now accessible permissionlessly on-chain. On [OPX](/docs/opx/opx-main), smart contracts handle the underwriting and dynamic pricing of DeFi options.

In TradFi: Options are traded on centralized exchanges or OTC markets, generally routed through clearing houses. Each traditional contract typically represents 100x shares of the underlying and is not adjustable.

In DeFi: Smart contracts enable fractionalization and flexible contract sizes.

Benefit Description
Opportunity Creation Traders can profit from price movements without direct ownership of the underlying asset.
Capital Efficiency Traders can distribute funds over multiple contracts, scaling positions efficiently.
Risk Mitigation Users hedge positions through various spreads, managing overall exposure.
Flexible Sizing Fractionalization removes the need to only trade in fixed contract (e.g., 100x) increments. This lowers barriers to entry.

TradFi: Sellers may write "naked" contracts, in which they do not possess the underlying asset. This exposes them to potentially unlimited losses, which persist until the contract expires, is sold, or executed by the buyer. While this offers buyers significant upside, it can be emotionally and financially devastating for the seller.

For example: when the market moves against a naked seller, the financial losses may only stop at contract expiry, sale, or execution by the option holder.

DeFi: Protocols restrict naked options as a preventative measure against systemic risk. Since there is no centralized enforcement for margin calls, smart contracts ensure all written positions are fully "cash covered" (collateralized). This limits the seller's maximum loss to the supplied collateral.

For example: a seller's losses stop once the posted collateral hits zero, the contract expires, or the buyer acts.

In TradFi, typical risks include time decay, volatility misjudgment, losing the premium, and ["margin calls"](https://www.investopedia.com/terms/m/margincall.asp) enforced by institutions.

In DeFi, both option parties deposit value into the smart contract, replacing centralized margin enforcement but introducing unique risks:

Risk Type Description
Smart Contract Vulnerabilities Malicious actors may attempt to exploit code to steal locked funds.
Protocol Bugs Unintended program behavior or miscalculations can lead to unexpected losses.
Oracle Failures Issues or delays from external price feeds may trigger incorrect execution or mispricing.
Liquidity Issues Low market liquidity may cause slippage , difficulty entering/exiting, or large pricing discrepancies. Traders may have trouble opening or closing positions without affecting the market.
## TradFi vs DeFi: The Summary In summary, options trading in TradFi and DeFi shares a common foundation, but DeFi introduces new mechanisms, risks, and opportunities. Both approaches remain integral to modern trading. Many financial institutions monitor options markets as a key sentiment indicator for underlying assets. Epicentral Labs continues working to lower the barrier to entry for all participants so that more traders can benefit from options trading. None of the information presented here or elsewhere on this site is financial advice. Epicentral Labs offers these materials for educational purposes. Each trader must conduct independent research before entering into any option trade. ## Terminology Assignment occurs when the seller (writer) of an option is obligated to sell or buy the underlying asset because the option holder chooses to exercise. Sellers are selected at random. Exercise refers to using the option to buy (calls) or sell (puts) the underlying asset at the specified strike price. The expiration date is the deadline by which the option must be exercised or else it expires and becomes worthless. Extrinsic value is the portion of the option’s premium above its intrinsic value, influenced by factors like time-to-expiry and market volatility. Intrinsic value measures the true value of an asset based on fundamentals, rather than market price. Moneyness describes where the current price of the underlying asset sits relative to the option’s strike price. Options are financial derivatives of an underlying asset or token. They represent an agreement between a buyer and a seller for a potential future transaction at a predefined price, the strike price. The premium is the amount paid by the buyer to acquire the option—the cost of the contract. The risk-free rate of return is a benchmark for an investment assumed to have zero risk of loss, and is used to evaluate other investment opportunities. The strike price is where the buyer can buy (call) or sell (put) the underlying asset upon exercise. Volatility measures how dramatically the returns of a security or market index vary over time. Generally, greater volatility signals higher risk. This course focuses on the **Solana Ecosystem**. All examples and discussions refer to cryptocurrencies and tokens native to Solana. ## Learn More For more in-depth materials and further reading, Epicentral Labs suggests these resources: | Resource | Link | | ----------------------------------------------------------------------------- | --------------------------------------------------------------------- | | Investopedia - Options Contract: What It Is, How It Works, Types of Contracts | [Read more](https://www.investopedia.com/terms/o/optionscontract.asp) | | Investopedia - What Are Options? Types, Spreads, Examples, and Risk Metrics | [Read more](https://www.investopedia.com/terms/o/option.asp) | | ProjectFinance (YouTube): Options Trading for Beginners in 10 Minutes | [Watch here](https://youtu.be/O8EN51F6jUo) | None of the information found in these resources should be considered financial advice. Please conduct your own research (DYOR)—options involve risk and returns are never guaranteed. # Spreads Introduction (/docs/opx/option-basics/spreads-intro) # Advanced Techniques and Positions for Options Trading As stated on [Learning the Foundation](/docs/opx/option-basics), fractionalization is key to implementing advanced strategies in options and derivative trading. By maximizing [capital efficiency](/docs/opx/option-basics/index#quantity-tradfi-vs-defi), traders distribute their funds across multiple contracts and positions to increase the odds of profit in their favor—also known as [hedging](/docs/opx/option-basics/index#prerequisites). Traders create win-win scenarios by utilizing various "**Spread** Strategies." *** ## Spreads [Spreads](https://www.schwab.com/learn/story/what-is-options-spread-trade) are used in both TradFi and DeFi options trading. They require combining multiple options (buying and selling different [strike prices](/docs/opx/option-basics#terminology) or [expiration dates](/docs/opx/option-basics#terminology)) to manage cost, risk, or directional bias. Traders combine multiple [call options](/docs/opx/option-basics/calls-and-puts#long-call-option-bullish) and [put options](/docs/opx/option-basics/calls-and-puts#long-put-option-bearish) to create spread positions that help manage portfolio risks and optimize capital allocation. ### Bullish Spreads Bull spreads are constructed to benefit from a moderate rise in the price of the underlying asset by combining option positions with different strikes.\ Learn more A vertical bull spread involves buying and selling options of the same type (typically calls), same expiration, but different strikes, aiming to profit from upward movement in the asset with defined risk.\ Learn more Debit spreads require a net upfront payment and seek to profit from movements in the underlying asset by buying and selling options at different strikes, often utilized for upward moves.\ Learn more Some ratio spreads are constructed with a bullish bias, generally by selling more puts than are bought to profit from a rise or modest decrease in the underlying asset price. Learn more ### Bearish Spreads Bear spreads allow traders to profit from a moderate decline in the price of the underlying asset by buying and selling options at different strike prices.\ Learn more A vertical bear spread is constructed by buying and selling options of the same type (typically puts), same expiry, but different strike prices, seeking to profit from downward movement in the asset.\ Learn more Credit spreads can be structured with a bearish bias, such as the bear call spread, where a higher-strike call is sold and a lower-strike call is bought. The goal is to profit from time decay and limited downside.\ Learn more Certain ratio spreads may employ a bearish philosophy, often selling more calls than are bought to benefit from falling prices.\ Learn more ### Delta-Neutral & Volatility Spreads Butterfly spreads create a delta-neutral position by combining bull and bear spreads with three strike prices, typically limiting both risk and reward and profiting from little net movement.\ Learn more Iron condor spreads utilize both put and call credit spreads—benefiting from periods of low volatility—offering limited risk and reward within a set price range.\ Learn more Straddle spreads are delta-neutral positions involving both a call and a put with the same strike and expiry, profiting from significant volatility in either direction.\ Learn more Strangle spreads purchase or sell both a call and a put, with different strikes but the same expiration date, allowing for a delta-neutral setup that profits from larger price swings.\ Learn more Calendar spreads use options with the same strike price but different expiration dates, seeking to profit from time decay and changes in volatility, often without strong directional bias.\ Learn more Diagonal spreads combine different strike prices and expiration dates, enabling management of both time decay and directional movement; they can be constructed for neutral or directional strategies.\ Learn more *** The information provided on this website is for general informational and educational purposes only. It is not a substitute for professional financial advice and does not constitute an offer for investment advisory or other financial services. Traders are responsible for consulting with qualified financial professionals to determine whether any information or services discussed on this website are suitable for their specific financial situation, objectives, and risk tolerance. Epicentral Labs strives to ensure that all information on this website is accurate and up-to-date, but makes no express or implied representations or warranties regarding accuracy, completeness, reliability, or validity. Epicentral Labs is not responsible for any errors, omissions, or results from using this information. Epicentral Labs does not, and will not, provide any information in the form of financial advice. Traders must conduct their own research (DYOR). All actions and liabilities are incurred by the trader. # Fees (/docs/opx/opx-main/fees) # Overview OPX collects protocol-level fees when users open, close, or interact with options contracts and related platform features. These fees compensate ecosystem participants and fund continued protocol development, consistent with the non-custodial reward and operational models defined in the [Epicentral DAO](/docs/epicentral-dao) governance framework. These fees are not investment returns, dividends, or profit-sharing mechanisms, and they do not imply ownership or entitlement to the protocol. OPX transparently displays all fee structures within the interface during position creation and management. *** # Revenue Allocation OPX distributes all collected fees autonomously through smart contract logic. The protocol allocates fees according to the following structure: | Allocation Category | Percentage | Description | | ------------------------------------------------------------------------------ | :--------: | ----------------------------------------------------------------------------------------------------------------------------- | | [Rewards Program](/docs/staking-lab/staking-program/reward-calculation-system) | 70% | Claimable Funds allocated to the Rewards Pool intended to incentivize participation and contributions from LABS Token holders | | Core Team | 20% | Compensation for ongoing development, maintenance, and operational labor | | Operations Expenses | 10% | Platform maintenance, infrastructure costs, and approved operational expenditures | OPX distributes all fees autonomously through deterministic smart contract logic. The protocol executes fee allocation automatically without requiring manual intervention or discretionary management. OPX allocates up to seventy percent (70%) of its protocol-designated incentive budgets directly to the [Rewards Program](/docs/staking-lab/staking-program/reward-calculation-system). These allocations exclusively support the ongoing operation of the Rewards Program. They do not establish, collateralize, or backstop the value of [xLABS](/docs/tokens/xlabs-token). The protocol restricts access to the Rewards Program pool to users who satisfy specific participation requirements. OPX makes no guarantee regarding the amount of assets in the pool at any time and does not guarantee that xLABS holders can redeem a predetermined value, quantity, or share of protocol fees. Redemption eligibility and amounts change dynamically based on user participation, timing, and the pool's state at redemption. Neither [Epicentral DAO](/docs/epicentral-dao), OPX, nor any related party commits to or assures the future pool value or the assets that xLABS holders may claim. All redemptions remain discretionary, conditional, and subject to nondeterministic protocol rules. OPX allocates twenty percent (20%) of all collected fees to Core Team compensation, supporting ongoing development, maintenance, and operational labor. This allocation reflects the Core Team's responsibilities and follows the permissions set by the [Epicentral DAO](/docs/epicentral-dao) governance framework. This allocation is not a royalty based on token ownership, investment performance, or managerial actions. OPX compensates Core Team members for protocol-related work as approved through the [Epicentral DAO](/docs/epicentral-dao). The Core Team utilizes these funds in a Procedural Capacity only and may not use them for speculation or to influence token value. OPX assigns ten percent (10%) of all collected fees to operational overhead, covering:
  • Platform maintenance
  • Infrastructure costs
  • Approved operational expenditures
These funds ensure reliable platform operations and continued protocol development. The protocol reserves these funds solely for operational use and will not apply them for speculation or token price influence. *** # User Fees OPX charges fees based on user actions and position types. The protocol applies fees transparently, and users see all applicable fees displayed within the interface during position creation and management. The Buyer or Seller that initiates the close position order pays the close fee. ### Buyer Fees Buyers incur fees upon executing economically meaningful events rather than holding positions, consistent with non-custodial platform design. **The final buyer fee schedule will be determined by an Epicentral DAO governance vote closer to mainnet launch. All information below is illustrative and subject to change. Please monitor [Epicentral DAO](/docs/epicentral-dao) proposals for updates.**
Action Fee Type
Bid Open Position 0.02 SOL fixed rate
Contract Premium No fee charged
Bid Close Position 0.10% of realized PnL
Exercise Option 0.25% of position size
### Seller Fees Sellers incur fees based on their role in creating and managing options contracts. Contract originators (First Makers) receive preferential treatment to incentivize market creation. **The final seller fee schedule will be determined by an Epicentral DAO governance vote closer to mainnet launch. All information below is illustrative and subject to change. Please monitor [Epicentral DAO](/docs/epicentral-dao) proposals for updates.**
Action Fee Type
Ask Open Position (First Maker) Free — No fee for creating a new option contract
Ask Open Position (Existing Option Chain) 0.02 SOL fixed rate — Fee applies when utilizing an existing contract template
Seller Borrow Rate 0.005% – 0.02% per hour, based on position size and indexed to utilization inside the [OMLP](/docs/opx/opx-main/omlp)
Ask Close Position 0.075% of realized PnL — Sellers receive a 25% discount on close fees
Seller Liquidation 0.10% of collateral size
Sellers benefit from reduced fees when creating new option contracts, encouraging market depth and liquidity provision. The protocol charges sellers for borrowing from the [OMLP](/docs/opx/opx-main/omlp) based on utilization rates and position size. ## Platform Swap Convenience Fee OPX charges a convenience fee for platform swap functionality: | Action | Fee Type | | ------------------------- | ----------------------------------- | | Platform Swap Convenience | 0.10% of position size | This fee applies when users utilize OPX's integrated swap functionality for position management. None of these allocations constitute token repurchases, token price support, or the provision of financial returns. These fee allocations do not modify or enhance the rights or limitations of [LABS](/docs/tokens/labs-token) or [xLABS](/docs/tokens/xlabs-token) holders. For comprehensive rights, limitations, and disclaimers, please refer to the official [Terms of Service](/docs/legal/tos). # OPX (/docs/opx/opx-main) OPX is the flagship decentralized options protocol created by Epicentral Labs. The protocol enables users to construct, manage, and unwind on-chain options positions through a streamlined, non-custodial interface. OPX abstracts the complexity traditionally associated with options markets and introduces tools that allow users to fully understand, configure, and execute positions from their self-custodied wallets. The protocol embodies three core design pillars: * Design * Experience * Simplicity Traditional options trading introduces steep knowledge and execution barriers. OPX reduces this friction by providing intuitive visualization, transparent pricing components, and modular workflows that guide users through each decision without diminishing optionality or sophistication. *** ## Trade Page — For Option Buyers Buyers interact with OPX through the Trade Page. This page offers enhanced visibility and configuration options for users who require deeper insight into position mechanics. The Pro Mode interface displays: * Available option chains * Strike prices and expiration dates * Pricing variables and option Greeks * Position details and cost metrics * Liquidation prices and risk metrics These elements are deliberately structured so users can interpret market conditions without becoming overwhelmed. OPX supports fractionalized exposure, allowing users to size positions dynamically rather than adopting the traditional "one contract = 100 units" convention. ### Examples of Fractional Sizing | Selected Quantity | Underlying Exposure | | ----------------- | ------------------- | | 1.00 | 100 units | | 0.50 | 50 units | | 0.25 | 25 units | This granular sizing broadens access and improves capital efficiency, enabling buyers to enter markets according to individual risk tolerances and strategies. *** ## Option Lab — For Option Sellers The Option Lab is the OPX module used to create options contracts. Sellers use the Option Lab to configure contract parameters, define collateral requirements, and mint options positions. The seller workflow consists of three pages: * Configure * Provide Collateral * Review & Mint ### Configure Option Sellers begin by selecting: * Strike price * Expiration date * Position size The module also presents advanced analytics that inform pricing and risk assumptions, including: * Historical Volatility * Risk-Free Rate * Moneyness metrics * Estimated Maximum Profit These values enable sellers to understand how the selected parameters influence potential outcomes. ### Provide Collateral Collateralization ensures that sellers maintain sufficient backing for potential option obligations. This page contains three core components: **Collateral Amount Panel** Sellers select the asset and quantity that will collateralize their position. If the provided collateral is insufficient, the seller may borrow additional coverage from the [Option Margin Liquidity Pool (OMLP)](/docs/opx/opx-main/omlp) to complete the required margin structure. **Leverage Panel** OPX supports up to 10× collateral leverage, enabling sellers to increase position capacity without committing the full notional amount upfront. This mechanism does not introduce custodial risk; all operations occur through deterministic smart contract logic. **Collateral Status & Cost Breakdown** The interface clearly displays: * Total collateral supplied * Outstanding coverage required * Final coverage percentage * Borrowing fees (expressed in daily or hourly intervals) * Option creation fee * Transaction/network fees * Estimated maximum profit exposure This transparency gives sellers a holistic understanding of the economic components associated with their position and enables informed decision-making. ### Review & Mint The final step surfaces a complete summary of: * Contract structure * Collateral configuration * Borrowing details * Fee components * Position analytics Once reviewed and approved, the seller mints an options contract directly on-chain. The OPX protocol does not hold, store, or intermediate user assets; minting occurs from the seller's non-custodial wallet through deterministic smart contracts. *** ## Protocol Revenue OPX collects protocol-level fees whenever users open, close, or interact with options positions. These fees do not represent investment returns, dividends, profit-sharing, or confer any form of ownership or entitlement in the protocol. The DAO may direct portions of fees to specific programs or participants according to separately governed mechanisms. For a comprehensive breakdown of the fee structure, allocation details, and user fee schedules, refer to the [Fees](/docs/opx/opx-main/fees) page. All applicable fees and their breakdown are transparently displayed within the interface at each stage of position creation and management. # OMLP (/docs/opx/opx-main/omlp) # Overview **Option Margin Liquidity Pool (OMLP)** is a programmable, non-custodial liquidity architecture that enables users to access margin for options trading while being cash-covered. This allows lenders to participate in options trading by routing liquidity to seller-side demand. *** ## Traditional Options vs. OMLP Options ### Comparing Traditional Options and OMLP Options | Aspect | Traditional Options Structure | OMLP Structure (Single-Party Paradigm) | | -------------------------- | --------------------------------------------------- | ------------------------------------------------------------------------------------- | | **Counterparties** | Buyer and seller | Buyer, Seller, and Lender | | **How contracts are made** | Requires two parties to agree on terms | Requires two parties to agree on terms (allows for third party involvement) | | **Role of liquidity** | Seller provides margin and assumes full obligation | Seller provides margin and assumes full obligation (allows for third party liquidity) | | **Contract flexibility** | Limited by seller availability and preferences | Limited by seller availability and preferences | | **Trade Execution** | Executed by custodial agents | Executed by non-custodial smart contracts | | **Pricing** | Vulnerable to inefficient brokerage bid/ask spreads | Standardized, [Options Pricing Model (OPM)](/docs/opx/opx-main/opm) | ## Two-Tier Liquidity Architecture The OMLP utilizes a **dual-tier Single-Asset Pool (SAP) system**, which optimizes capital efficiency, and allows for third-party integration for liquidity scaling. Single-Asset Pools (SAPs) represent only one underlying asset. Liquidity providers deposit the underlying asset to enable margin for options trading. For a token to be tradable on [OPX](/docs/opx/opx-main), there must be a SAP for it. The system operates on a tiered priority basis: | Tier | Name | Source | Activation | | ---------- | --------------------------------------------- | ------------------------------------------------------------------------------------------------ | ------------------------------------------------ | | **Tier 1** | [SAP-1](#SAP-1-primary-liquidity-layer) | In-house pools governed by [Epicentral DAO](/docs/epicentral-dao) | Primary liquidity source | | **Tier 2** | [SAP-2](#SAP-2-integrated-external-liquidity) | External platforms ([Kamino](https://docs.kamino.finance/), [Orca](https://docs.orca.so/), etc.) | Activates when SAP-1 reaches **95%** utilization | Users may supply assets to **SAP-1** to enable borrowing activity. The protocol may display a historical annualized rate reflecting prior utilization, and users may receive protocol-determined transfers in the same asset they supplied based on their participation. These transfers are not guaranteed, are not tied to price appreciation or managerial efforts, and do not constitute dividends, yields, or profit rights. No synthetic or secondary reward token is issued. When a user deposits SOL into a SOL SAP-1 pool, the protocol may provide transfers in SOL determined by the pool's participation parameters. **SAP-1:** * Enables non-traders to participate in options markets * Drives Total Value Locked (TVL) growth * Avoids impermanent loss exposure by operating as a single-asset structure * Prioritizes capital usage before external integrations Once SAP-1 reaches **100% utilization**, [SAP-2](#SAP-2-integrated-external-liquidity) activates. **SAP-2** sources liquidity from established Solana-based liquidity platforms such as [**Kamino**](https://docs.kamino.finance/), [**Orca**](https://docs.orca.so/), etc. SAP-2 allows for extended margin availability when [SAP-1](#SAP-1-primary-liquidity-layer) liquidity is a 95% utilization, designed to avoid service interruptions and allow for 24/7 seller-side liquidity. SAP-2 historical APR is calculated and determined by third party liquidity providers. *** ## Token Listing Eligibility The [Epicentral DAO](/docs/epicentral-dao) determines which assets qualify for trading on [OPX](/docs/opx/opx-main). Eligibility is established through on-chain [governance proposals](/docs/epicentral-dao/governance-process), ensuring that the community selects supported tokens. Retail lenders receive direct exposure to options liquidity for the first time, without the need to open their own options positions. This approach establishes a scalable options infrastructure that provides capital efficiency, user-sovereign execution, and uninterrupted market access—eliminating centralized order routing, custodial control, and discretionary managerial intervention. *** All participants should understand that interactions with smart contracts involve inherent risks, including potential vulnerabilities, exploits, or loss of funds. Please review the official [Terms of Service](/docs/legal/tos) for full details and disclaimers regarding smart contract risk on OPX. # Option Pricing Model (OPM) (/docs/opx/opx-main/opm) # Option Pricing Model (OPM) The **Option Pricing Model (OPM)** serves as the core pricing calculator integrated within the `option_program`. OPM validates option pricing on-chain and forms the foundation for how DeFi options are calculated on Solana. OPM derives from the widely accepted derivatives formula used in traditional finance—the [Black-Scholes Model](https://en.wikipedia.org/wiki/Black%E2%80%93Scholes_model#Notation). Both American-style and European-style options stem from this model, making it the optimal candidate for Solana's DeFi options. *** ## Black-Scholes Model The [Black-Scholes Model](https://en.wikipedia.org/wiki/Black%E2%80%93Scholes_model) is a proven and reliable formula that traditional finance uses globally on a daily basis for derivatives pricing. However, using the Black-Scholes model within the DeFi environment presents unique challenges that require adaptation. *** ## Adapting Black-Scholes for DeFi Epicentral Labs refactored the original Black-Scholes formula to conform to the Solana DeFi ecosystem. The adaptations include: ### No Naked Positions All sellers must be ["cash-covered"](/docs/opx/option-basics#naked-vs-covered-options), also known as *"collateralized"*. DeFi protocols restrict ["naked"](/docs/opx/option-basics#naked-vs-covered-options) options as a preventative measure against systemic risk, ensuring all written positions are fully collateralized. DeFi protocols require all option positions to be cash-covered (collateralized), limiting the seller's maximum loss to the supplied collateral. This differs from TradFi, where sellers may write naked contracts. ### Fractionalized Options Traders are no longer obligated to trade 100x of the underlying share per trade. The financial barrier of entry for any given contract is lowered through [fractionalization](/docs/opx/option-basics#quantity-tradfi-vs-defi). Traders maximize their [capital efficiency](/docs/opx/option-basics#quantity-tradfi-vs-defi) by distributing funds across multiple contracts instead of committing to a single position. Traders mitigate risk by encouraging capital efficiency through the use of [spread strategies](/docs/opx/option-basics/spreads-intro) to create possible win-win scenarios. *** ## Black-Scholes Pricing Formulas The Black-Scholes model provides mathematical formulas for calculating call and put option prices. ### Call Option Price ```math C(S,t) = N(d_+)S_t - N(d_-)Ke^{-r(T-t)} ``` ### Put Option Price ```math P(S,t) = N(-d_+)Ke^{-r(T-t)} - N(-d_-)S_t ``` ### Standardized Normal Variables The formulas use two standardized normal variables: ```math d_1 = \frac{1}{\sigma\sqrt{T-t}}\left[\ln\left(\frac{S_t}{K}\right) + \left(r + \frac{\sigma^2}{2}\right)(T-t)\right] ``` ```math d_2 = d_1 - \sigma\sqrt{T-t} ``` The `d1` and `d2` parameters are crucial for the Black-Scholes model, as they determine the option's price and its sensitivity to various factors. The `d1` and `d2` parameters are integral components of the Black-Scholes option pricing model. These parameters determine the theoretical price of options and their sensitivities to various market factors. #### d1 Calculation The `d1` parameter uses the following formula: ```math d_1 = \frac{1}{\sigma\sqrt{T-t}}\left[\ln\left(\frac{S_t}{K}\right) + \left(r + \frac{\sigma^2}{2}\right)(T-t)\right] ``` **Parameters:** * `spot_price` ($S_t$): The current market price of the underlying asset * `strike_price` ($K$): The price at which the option can be exercised * `risk_free_rate` ($r$): The annualized risk-free interest rate * `volatility` ($\sigma$): The volatility of the underlying asset * `time_to_expiry` ($T-t$): The time remaining until expiration, expressed in years **Purpose:** The `d1` parameter is a standardized measure that helps determine the probability of option exercise, adjusted for the time value of money and volatility risk premium. #### d2 Calculation The `d2` parameter uses the formula: ```math d_2 = d_1 - \sigma\sqrt{T-t} ``` **Parameters:** * `d1`: The previously calculated `d1` parameter * `volatility` ($\sigma$): The volatility of the underlying asset * `time_to_expiry` ($T-t$): The time remaining until expiration, expressed in years **Purpose:** The `d2` parameter is used alongside `d1` in the Black-Scholes formula to calculate the option's price. It represents the adjusted probability of the option expiring in-the-money. The Solana Options Pricing Model (OPM) for OPX uses historical volatility, not implied volatility, when calculating option prices. Participants should consider this difference when comparing model results to those produced by traditional options markets, where implied volatility is commonly used. *** ## Notation Reference Understanding the mathematical notation used in the Black-Scholes formulas helps traders interpret pricing calculations. Variables that describe the current market state and underlying asset characteristics. | Symbol | Description | | ------------ | ------------------------------------------------------------------- | | $S$ or $S_t$ | Current price of the underlying token/asset | | $\sigma$ | Volatility of the underlying token/asset | | $t$ | Current time in years; $t = 0$ represents the present | | $r$ | Annualized "risk-free" interest rate, continuously compounded (APY) | Variables specific to the option contract and its pricing. | Symbol | Description | | -------- | ------------------------------------------------------------------------------------------------------------------------------ | | $V(S,t)$ | Current option price based on asset price and time | | $C(S,t)$ | Call option price | | $P(S,t)$ | Put option price | | $T$ | Time when the option expires | | $\tau$ | Time left until expiry ($\tau = T - t$) | | $K$ | Strike price (agreed price to buy/sell) | | $e$ | [Euler's number](https://en.wikipedia.org/wiki/E_\(mathematical_constant\)) (≈ 2.718281823), the base of the natural logarithm | | $\ln$ | Natural logarithm | | $N(x)$ | [Standard normal cumulative distribution function (CDF)](https://en.wikipedia.org/wiki/Cumulative_distribution_function) | The CDF formula: ```math N(x) = \frac{1}{\sqrt{2\pi}} \int_{-\infty}^{x} e^{-z^2/2} dz ``` *** ## Option Greeks The Greeks serve as essential metrics for managing risk in options trading. They help traders understand how their portfolio value changes when specific market factors fluctuate. By analyzing each Greek independently, traders assess individual risk components and adjust their positions to maintain their target risk profile. An option's price changes based on how traders interact with it and on market conditions. The composition or structure of an option relies heavily on Greeks. Traders use Greeks to understand how various factors affect [option pricing](/docs/opx/option-basics) and to make informed trading decisions. [*Reference: Wikipedia - Option Greeks*](https://en.wikipedia.org/wiki/en:Greeks_\(finance\)?variant=zh-tw) Delta measures how much the option's price changes with every \$1 change in the underlying token's price. Delta represents the number of tokens needed to hedge the option and helps traders understand how [call options](/docs/opx/option-basics/calls-and-puts#long-call-option-bullish) and [put options](/docs/opx/option-basics/calls-and-puts#long-put-option-bearish) respond to price movements in the underlying asset. ```math \Delta = \frac{\partial V}{\partial S} ``` | Aspect | Description | | ------------------ | ------------------------------------------------------------------------------------- | | **Definition** | Measures price sensitivity to underlying token price movements | | **Calculation** | Change in option price per \$1 change in underlying token price | | **Range** | Typically between 0 and 1 for calls, -1 and 0 for puts | | **Interpretation** | Higher deltas indicate the option's price closely follows the token's price movements | Delta helps traders understand how [call options](/docs/opx/option-basics/calls-and-puts#long-call-option-bullish) and [put options](/docs/opx/option-basics/calls-and-puts#long-put-option-bearish) respond to price movements in the underlying asset. Gamma tracks how much delta changes when the underlying token's price changes by \$1, reflecting the sensitivity of delta. Gamma measures how fast delta changes when the asset price moves and helps measure how stable an option position is. ```math \Gamma = \frac{\partial \Delta}{\partial S} = \frac{\partial^2 V}{\partial S^2} ``` | Aspect | Description | | ------------------ | ----------------------------------------------------------------------- | | **Definition** | Measures the rate of change of delta | | **Calculation** | Change in delta per \$1 change in underlying token price | | **Range** | Always positive (for both calls and puts) | | **Interpretation** | Higher gamma means delta will adjust quickly with token price movements | Gamma tracks how much delta changes when the underlying token's price changes by \$1, reflecting the sensitivity of delta. Theta represents the option's time decay, showing how much value the option loses each day as the [expiration date](/docs/opx/option-basics#terminology) approaches. Theta quantifies the time value component of an option's [premium](/docs/opx/option-basics#terminology) and measures how much value an option loses as time passes. ```math \Theta = -\frac{\partial V}{\partial \tau} ``` | Aspect | Description | | ------------------ | ---------------------------------------------------------------------- | | **Definition** | Measures time decay—the rate at which option value decreases over time | | **Calculation** | Change in option price per day as expiration approaches | | **Range** | Typically negative (options lose value over time) | | **Interpretation** | A high theta means the option's value decreases faster with time | Sellers prefer high thetas because they earn more from the buyer as time passes. Vega measures the sensitivity of the option's price relative to changes in the underlying token's [volatility](/docs/opx/option-basics#terminology). Vega quantifies the impact of a 1% change in volatility and helps traders understand how market uncertainty affects option pricing. ```math \nu = \frac{\partial V}{\partial \sigma} ``` | Aspect | Description | | ------------------ | -------------------------------------------------------------------------- | | **Definition** | Measures sensitivity to volatility changes | | **Calculation** | Change in option price per 1% change in implied volatility | | **Range** | Always positive (for both calls and puts) | | **Interpretation** | Higher vega means the option's price is more affected by volatility shifts | Vega helps traders understand how market uncertainty affects option pricing. Rho indicates how much the option's price changes in response to a 1% change in interest rates. Rho reflects sensitivity to changes in the [risk-free rate](/docs/opx/option-basics#terminology), which affects the cost of carrying positions. ```math \rho = \frac{\partial V}{\partial r} ``` | Aspect | Description | | ------------------ | --------------------------------------------------------------------------------------- | | **Definition** | Measures sensitivity to interest rate changes | | **Calculation** | Change in option price per 1% change in risk-free interest rate | | **Range** | Positive for calls, negative for puts | | **Interpretation** | Higher rho indicates that the option's value is more sensitive to interest rate changes | Rho reflects sensitivity to changes in the [risk-free rate](/docs/opx/option-basics#terminology), which affects the cost of carrying positions. The Option Pricing Model (OPM) used by Epicentral Labs is derived from the Black-Scholes framework but modified for decentralized execution on Solana. As a result, outputs may differ from traditional Black-Scholes calculations. All valuations are provided for protocol functionality only and should not be relied upon as financial, investment, legal, or tax advice. Users must exercise independent judgment, verify any calculations as needed, and bear full responsibility for their decisions and transactions when interacting with the protocol. # Error Handling (/docs/staking-lab/staking-program/error-handling) # Error Handling The program defines comprehensive error types: | Error Name | Description | | -------------------------- | ----------------------------------------------------------------------- | | `VaultMismatch` | The provided vault account does not match the pool vault. | | `InsufficientStakeBalance` | Insufficient staked amount or vault balance for this unstake operation. | | `ArithmeticError` | Arithmetic operation failed (overflow, underflow, or conversion error). | | `EmissionUnchanged` | The provided Emission Rate is identical to the current Emission Rate. | | `InvalidStakeMint` | The provided stake mint does not match the config stake mint. | | `InvalidRewardMint` | The provided reward mint does not match the config reward mint. | | `UnauthorizedUser` | The signer is not the owner of this stake account. | | `Overflow` | Arithmetic overflow or underflow occurred. | | `MintDecimalsTooHigh` | The provided mint decimals are too high. Maximum allowed is 12. | | `InvalidTimestamp` | Timestamp cannot be earlier than the last interest index update. | | `ZeroStakeAmount` | Stake amount must be greater than zero. | | `StakeAccountNotEmpty` | Cannot close stake account with non-zero staked amount. | | `UnclaimedRewards` | Cannot close stake account with unclaimed pending rewards. | | `ConfigPoolMismatch` | The stake pool's config does not match the provided config account. | | `StakePoolMismatch` | The provided stake pool does not match the stake account's pool. | | `InvalidEmissionBps` | The provided Emission Rate (in basis points) is invalid. | | `VaultNotEmpty` | The vault account is not empty. | # The Staking Program (/docs/staking-lab/staking-program) # Instructions The `staking_program` exposes eight main instructions defined in the program module: | Instruction | Description | | ------------------------- | ---------------------------------------------- | | `initialize_stake_pool` | Initialize the stake pool and config accounts. | | `update_stake_pool` | Update the stake pool and config accounts. | | `delete_stake_pool` | Delete the stake pool and config accounts. | | `stake_to_stake_pool` | Stake tokens to the stake pool. | | `unstake_from_stake_pool` | Unstake tokens from the stake pool. | | `claim_rewards` | Claim rewards from the stake pool. | | `initialize_xlabs_mint` | Initialize the xLABS mint and metadata. | | `initialize_metadata` | Initialize the metadata for the xLABS mint. | *** # Core Account Types The program manages three primary account types: ### `StakePoolConfig` The global configuration account that stores pool parameters: ```rust #[account(discriminator = 1)] #[derive(InitSpace)] pub struct StakePoolConfig { pub stake_mint: Pubkey, // LABS address in this case pub reward_mint: Pubkey, // xLABS address in this case pub emission_bps: u128, // Emission Rate in basis points (e.g., 10% is 1_000) pub bump: u8, } ``` ### `StakePool` The pool state account tracking the [Global Interest Index](/docs/staking-lab/staking-program/reward-calculation-system#global-interest-index) and **Vault**: ```rust #[account(discriminator = 2)] #[derive(InitSpace)] pub struct StakePool { pub vault: Pubkey, // the vault where the staked tokens are held pub config: Pubkey, // used to track the cumulative global interest for the pool, // to get the decimal of interest index, divide by 10^12 pub interest_index: u128, pub interest_index_last_updated: i64, // timestamp of the last interest index update pub bump: u8, } ``` * **Derived PDA**: Uses seed `["stake_pool"]` * **Key Fields**: * `vault`: Associated token account holding staked LABS tokens * `interest_index`: Cumulative interest index (scaled by 10^12 for precision) * `interest_index_last_updated`: Unix timestamp of last index update ### `StakeAccount` Per-user account tracking individual stake positions: ```rust #[account(discriminator = 3)] #[derive(InitSpace)] pub struct StakeAccount { pub user: Pubkey, pub stake_pool: Pubkey, // We're using u64 here because that's the SPL token standard. pub staked_amount: u64, pub pending_rewards: u64, pub interest_index_at_deposit: u128, pub bump: u8, } ``` * **Derived PDA**: Uses seeds `["stake_account", stake_pool.key(), user.key()]` * **Key Fields**: * `staked_amount`: Amount of LABS tokens currently staked (u64, SPL token standard) * `pending_rewards`: Accumulated but unclaimed xLABS rewards * `interest_index_at_deposit`: Baseline interest index for reward calculations ## Access Control Authority checks are enforced via the `AUTHORITIES` constant, which varies by network: ```rust pub const AUTHORITIES: [Pubkey; 2] = [ pubkey!("3BEvopNQ89zkM4r6ADva18i5fao1sqR1pmswyQyfj838"), // DAO Main Treasury pubkey!("5aVw8DnKuxjYRhvBDkE9Khh5NbxjUyu1pjDkgS6bdNFF"), // Core Team Hot Wallet ]; ``` Only addresses in `AUTHORITIES` can: * `initialize_stake_pool` * `update_stake_pool` * `delete_stake_pool` * `initialize_xlabs_mint` * `initialize_metadata` ## Security Features * **Precise arithmetic**: All calculations use [`PreciseNumber`](https://www.helius.dev/blog/solana-arithmetic) to prevent rounding errors * **Overflow protection**: All arithmetic operations use checked math * **Account validation**: Anchor constraints ensure account relationships via `has_one` checks * **PDA derivation**: Critical accounts use PDAs with deterministic seeds * **Authority checks**: Admin operations require signer to be in `AUTHORITIES` list * **Vault safety**: Vault must be empty before pool deletion # Instruction Flow (/docs/staking-lab/staking-program/instruction-flow) import { Step, Steps } from '@/components/steps'; ## Pool Initialization The `initialize_stake_pool` instruction creates both the config and pool accounts atomically: ```rust pub fn initialize_pool_handler(ctx: Context, emission_bps: u128) -> Result<()> { require!( emission_bps >= MIN_EMISSION_BPS && emission_bps <= MAX_EMISSION_BPS, StakingError::InvalidEmissionBps ); require_gte!( 12, ctx.accounts.stake_mint.decimals, StakingError::MintDecimalsTooHigh ); require_gte!( 12, ctx.accounts.reward_mint.decimals, StakingError::MintDecimalsTooHigh ); *ctx.accounts.config = StakePoolConfig { reward_mint: ctx.accounts.reward_mint.key(), stake_mint: ctx.accounts.stake_mint.key(), emission_bps, bump: ctx.bumps.config, }; *ctx.accounts.stake_pool = StakePool { config: ctx.accounts.config.key(), vault: ctx.accounts.vault.key(), interest_index: 0, interest_index_last_updated: Clock::get()?.unix_timestamp, bump: ctx.bumps.stake_pool, }; Ok(()) } ``` **Constraints:** * Emission Rate must be between `MIN_EMISSION_BPS` (1 bps = 0.01%) and `MAX_EMISSION_BPS` (100,000 bps = 1000%) * `stake_mint` and `reward_mint` decimals cannot exceed `12` * Only signers listed in the [`AUTHORITIES`](./index.mdx#access-control) constant are permitted to initialize the pool *** ## Staking The `stake_to_stake_pool` instruction handles both new and existing stake accounts: ```rust pub fn stake_handler(ctx: Context, amount: u64) -> Result<()> { ctx.accounts.validate(amount)?; let interest_index = ctx.accounts.update_pool_interest_index()?; // we return it because it's more efficient than reloading the whole account if ctx.accounts.stake_account.staked_amount == 0 { ctx.accounts.initialize_user_stake_account( amount, ctx.bumps.stake_account, interest_index, )?; } else { require_keys_eq!( ctx.accounts.stake_pool.key(), ctx.accounts.stake_account.stake_pool, StakingError::StakePoolMismatch ); ctx.accounts .update_user_stake_account(amount, interest_index)?; } ctx.accounts.transfer_to_vault(amount)?; Ok(()) } ``` **Process:** Validates `amount` > 0 and mint decimals Updates [Global Interest Index](/docs/staking-lab/staking-program/reward-calculation-system#global-interest-index) to current time Creates new `StakeAccount` if user has no stake, otherwise updates existing `StakeAccount` Transfers `stake_mint` tokens from user's associated token account (ATA) to pool vault *** ## Claiming Rewards The `claim_rewards` instruction mints `reward_mint` tokens based on accrued rewards: ```rust pub fn claim_handler(ctx: Context) -> Result<()> { ctx.accounts.validate()?; process_claim( &mut ctx.accounts.stake_pool, &ctx.accounts.config, &mut ctx.accounts.stake_account, &ctx.accounts.reward_mint, &ctx.accounts.user_reward_associated_token_account, &ctx.accounts.token_program, ctx.bumps.reward_mint, )?; Ok(()) } ``` The `process_claim` utility function orchestrates the complete claim flow: **Process:** Updates the [Global Interest Index](/docs/staking-lab/staking-program/reward-calculation-system#global-interest-index) to the current time Calculates pending rewards using `update_pending_rewards` Mints `reward_mint` tokens if `pending_rewards` > 0 Resets the baseline interest index via `apply_claim` *** ## Unstaking The `unstake_from_stake_pool` instruction handles both partial and full withdrawals: ```rust pub fn unstake_handler(ctx: Context, amount: u64) -> Result<()> { require_keys_eq!( ctx.accounts.stake_pool.key(), ctx.accounts.stake_account.stake_pool ); let mut should_close = false; if amount == ctx.accounts.stake_account.staked_amount { // Full unstake: claim rewards and mark for closing process_claim(/* ... */)?; should_close = true; } else { // Partial unstake: update interest and reset baseline let now = Clock::get()?.unix_timestamp; let interest_index = ctx.accounts.stake_pool .update_interest_index(now, ctx.accounts.config.emission_bps)?; ctx.accounts.stake_account.update_pending_rewards(interest_index)?; ctx.accounts.stake_account.interest_index_at_deposit = interest_index; } ctx.accounts.transfer_staked_to_user(amount)?; ctx.accounts.stake_account.staked_amount = ctx .accounts.stake_account.staked_amount .checked_sub(amount) .ok_or(StakingError::Overflow)?; if should_close { close_stake_account(&mut ctx.accounts.stake_account, &mut ctx.accounts.user)?; } Ok(()) } ``` | Type | Behavior | | ------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Full unstake** | Automatically claims rewards and closes the `StakeAccount`, refunding the user's [`rent`](https://docs.anza.xyz/implemented-proposals/rent) on the account | | **Partial unstake** | Updates the [Global Interest Index](/docs/staking-lab/staking-program/reward-calculation-system#global-interest-index), recalculates pending rewards, and resets the baseline interest index | # Reward Calculation System (/docs/staking-lab/staking-program/reward-calculation-system) import { Step, Steps } from '@/components/steps'; # Global Interest Index Think of the **Global Interest Index** like a clock that keeps ticking up. Every second, it increases slightly based on the pool's Emission Rate (`emission_bps`). Instead of tracking when each person staked, we just compare where the clock was when they started versus where it is now. ## The Simple Idea Imagine you're tracking rewards like this: 1. **Global Clock**: A number that grows over time (the Global Interest Index) 2. **Your Starting Point**: When you stake, we save the current clock value 3. **Your Rewards**: The difference between now and your starting point, multiplied by how much you staked This way, we don't need to remember timestamps for every staker—we just compare two numbers. ## How the Global Index Grows The Global Interest Index increases every second based on the pool's Emission Rate. It's updated automatically whenever someone stakes, unstakes, or claims rewards. **The formula is simple:** ``` growth = (Emission Rate × time_elapsed) / seconds_per_year new_index = old_index + growth ``` Here's a simplified look at how it's calculated: ```rust pub fn update_interest_index(&mut self, now: i64, emission_bps: u128) -> Result { // Calculate how much time has passed let elapsed_seconds = now - self.interest_index_last_updated; // Calculate growth based on Emission Rate and elapsed time let growth = (emission_decimals * elapsed_seconds) / seconds_per_year; // Add growth to the existing index self.interest_index += growth; Ok(self.interest_index) } ``` **Key Points:** * Starts at `0` when the pool is created * Grows continuously based on the Emission Rate * Only updates when someone interacts with the pool (lazy updates) ## How Your Rewards Are Calculated When you want to know your rewards, we simply compare: 1. Where the global index is now 2. Where it was when you staked (your baseline) Then multiply that difference by your staked amount. **The formula:** ``` your_rewards = (current_index - your_baseline_index) × your_staked_amount ``` Here's a simplified version: ```rust pub fn update_pending_rewards(&mut self, current_interest_index: u128) -> Result<()> { // Find the difference between now and when you staked let index_difference = current_interest_index - self.interest_index_at_deposit; // Multiply by your staked amount let new_rewards = index_difference * self.staked_amount; // Add to your existing pending rewards self.pending_rewards += new_rewards; Ok(()) } ``` **Example:** * You stake 1,000 tokens when the global index is `100` * Later, the global index reaches `150` * Your rewards = `(150 - 100) × 1,000 = 50,000` reward units ## Important Behaviors ### What Happens When You Claim When you claim your rewards, your baseline index resets to the current global index. This means: * Future rewards are calculated from this new starting point * You won't double-count rewards you've already claimed * It's like starting fresh from today ### Partial Unstaking If you unstake some (but not all) of your tokens, your baseline index resets. The remaining tokens are treated as if they were just staked, ensuring accurate reward calculations going forward. ### Why Precision Matters The program uses precise decimal math to ensure accuracy, especially important when dealing with: * Large numbers * Small Emission Rate percentages * Precise time calculations