How to use Synth Calls: Quick Guide
When you create a Synthetic Call Option, you are betting that an asset's price will increase without having to own or buy that particular asset.
Last updated
When you create a Synthetic Call Option, you are betting that an asset's price will increase without having to own or buy that particular asset.
Last updated
With Umoja, you can use a Synth Call to take a leveraged long position without the risk of liquidation.
Watch our founder Robby Greenfield as he gives us a walkthrough on how to use Umoja´s Synthetic Call Options.
Visit https://umoja.xyz/synth and follow these steps:
Step 1: Click “Synth Call” to select this option at the top of the form.
Step 2: Select a token from the list and enter the amount you want to bet.
Step 3: Choose the duration for the length of your Synth Call. The end date is when your Synth will expire (specifically at 11:59:59PM UTC 0 on the date you select).
Step 4: Choose your strike price: Your strike price represents the price above which a Synth is activated.
Step 5: After you populate all the fields from the form, this notification will appear: "Collateral should be > 5% of the notional amount you protect to maintain Synth Call". You can click on "Learn more" from there to access additional information on collateral maintenance.
Step 6: You could click on "Details" to see all the details of the Synth you are creating and a breakdown of the Total down payment amount. Click on the "Connect your wallet" or "Place Synth" button to proceed.
Step 7: A Pop-up window will appear showing all the details of the Synth you are creating. After reviewing the information, click on "Confirm Synth" to pay for this transaction. Once your crypto wallet approves the transaction, you will be redirected to the Synth details page in your Dashboard.
