Please familiarize yourself with CLAMMs and Option Fundamentals before attempting to use this walkthrough.

Quick Access:

Accessing the CLAMM

It should look something like this.

  1. Connect wallet

In the top right corner, click the ‘Connect Wallet’ button which will open your wallet options.

Select your wallet of choice and follow the prompts.

  1. Select market

The market refers to the token pair you would like to provide liquidity for or trade options on.

This can be chosen via the dropdown menu in the top left corner.

Providing Liquidity on the CLAMM

You may provide either base asset (i.e. token that is not $USDC) or $USDC liquidity to the Dopex CLAMM.

In our example we will be providing liquidity for the ETH/USDC market.

  1. Switch to ‘Liquidity Provision’ box

By default, the CLAMM user box will be set to ‘Trade’.

Click ‘Liquidity Provision’ to switch to the LP side.

  1. View Strike Prices

Click the dropdown menu under ‘Strikes’ to open all available strike prices.

Positions that require base asset deposits are denoted with a green arrow while $USDC deposits are denoted with a red arrow.

  1. Select Strike Price(s)

Click the strikes on the dropdown menu to select it.

You may provide liquidity for multiple strikes in the same transaction.

  1. Enter deposit amount

Enter the amount of tokens you would like to deposit.

Click ‘Deposit’ and confirm the transactions.

Congratulations, you are now successfully providing CLAMM liquidity!

  1. Review position and withdraw

If you would like to view your position, go to the bottom of the page and select ‘LP Positions’.

If your liquidity is not currently utilized, you may click ‘Withdraw’ at any time to withdraw your position.

You may also withdraw multiple positions at the same time by selecting the check box and clicking ‘Multi Withdraw’.

Purchasing Options via the CLAMM

  1. View available options

The CLAMM page will list all available options based on available liquidity.

By default, the page will be set to ‘Call’ - click the ‘Put’ tab if you would like to trade put options instead.

  1. Select your strike price(s)

Click the ‘+’ next to your desired strike price to add it to the trade tab (alternatively, use the dropdown menu provided).

Note that you may bundle multiple purchases in a single transaction by simply selecting more strikes.

  1. Select your time frame

Click the option time frame you would like to open.

We currently offer expiries from 20m to 24hr but intend to expand durations as we continue to iterate.

  1. Enter the amount of options you would like to purchase

Type in the number of options you would like to purchase at each strike price.

This will automatically output the cost of your premiums.

  1. Decide on auto-exercise and purchase options

A 1% fee on profits is charged on auto-exercised options

Users may choose to enable the auto-exerciser that will automatically execute options 5 minutes before expiry.

If this is not enabled, users must manually exercise options (even if they are ITM).

Congratulations, you have now purchased options via the CLAMM!

  1. View positions and exercise.

If you would like to view your position, go to the bottom of the page and select ‘Buy Positions’.

A position can be exercised at any time if it is in profit, thus, when a position is ITM it is exercisable while if it is OTM, and cannot be exercised, the button will be greyed out.

Congratulations, you have successfully purchased options via the CLAMM.

Last updated