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Launch app

Guides

Make a roll offer

Sell a vault next week's LONG and get paid in USDC.

When

A vault's auction opens when its roll starts, right after Friday's settlement, and runs for the auction window in Parameters. In the Ditto Spot tab, vaults in their auction show Roll auction open with the time left.

Steps

  1. Open the vault. The Roll auction panel shows next week's series, the budget, the best ask and every offer.
  2. Enter your ask: USDC per LONG, below the best ask and at most the band's width.
  3. The app works out how many LONG your offer must escrow. If you hold fewer LONG of next week's series, it offers to mint the missing pairs first. Approve that, then continue.
  4. Choose Place offer and approve. Your LONG moves into the offer's escrow.

Afterwards

  • Outbid: cancel the offer under Your offers to take back all of its LONG. You can do this at any time.
  • Winning: after the window, anyone, including you, can Finalize roll. You receive units × ask in USDC. If you escrowed more LONG than the vault bought, choose Reclaim on the offer afterwards.
  • Your SHORT: the SHORT from the pairs you minted stays with you. Hold it, merge it with LONG, or redeem it after settlement.

A lower ask is the only way to replace the best offer, and every offer must cover the vault's whole budget, so the winning maker always fills the roll on its own.