Cycle Explained

When does each cycle start ?

Each cycle starts on Friday from 8.30 am UTC

If there are delays in timing, they will be communicated in our Discord channel

Asset	Start Time
BNB	Friday [8:30am UTC]

When and how does each cycle end?

The CODA team will run the weekly fixing and settlement process as follows:

1. Update the volatility data in the smart contract.

2. Set the expiry price in the oracle/smart contract.

3. Settle the current round.

4. The smart contract will algorithmically select the [10 delta strike] and calculate a minimum premium for each option.

5. Withdrawal window of 15-30 minutes. Users who have withdrawals queued and those who initiate withdrawals in this period will be processed in this period.

6. Start of new cycle - depositing collateral and minting Otoken and running the Otoken sales via Airswap.

When can you deposit?

You can deposit anytime but you only start earning yield the next time the cycle begins.

When can you withdraw ?

You can initiate a withdraw depending if the assets are participating in the current cycle. Assets participating in the cycle are earning yield and cannot be withdrawn until the end of the cycle.

Withdrawal Flow Chart