Concepts
LONG and SHORT
What a pair is, what it costs, and how minting and merging work.
A pair is one LONG and one SHORT of the same series. Minting a pair locks the band's width in USDC inside the series, so every token is fully paid for from the start. Nothing is borrowed, so nothing can be liquidated.
Minting
mint pairs takes a whole number of pairs. For each pair the series holds H − L USDC as collateral, and the mint fee is charged once on the total, rounded up to the next USDC atom. You receive one LONG and one SHORT per pair.
| You mint | Collateral | Mint fee at 0.10% | You pay |
|---|---|---|---|
| 3 gold pairs, band 3,700 – 4,600 | 2,700.00 USDC | 2.70 USDC | 2,702.70 USDC |
The fee rate is part of the protocol's policy; Parameters shows the live value. The app shows the exact amount before you approve, and the transaction carries it as a ceiling, so it never costs more than the number you saw.
Minting is open until the series expires.
Merging
merge pairs burns one LONG and one SHORT and returns H − L USDC for each pair, with no fee. It works at any time, before expiry and after settlement alike.
The tokens
| LONG | SHORT | |
|---|---|---|
| Name and symbol | Ditto LONG, DLONG | Ditto SHORT, DSHORT |
| Decimals | 0, whole tokens | 0, whole tokens |
| Program | Token-2022, metadata on the mint | Token-2022, metadata on the mint |
| Freeze authority | none | none |
Each series has its own LONG and SHORT mints. Both are ordinary tokens: you can hold them, send them to any Solana wallet, or deposit LONG into Ditto Spot.
A pair is worth exactly the band's width at every moment, so holding both sides is neutral to the price. Exposure comes from the side you keep.