🚏Purchase and Exercise Option

1.Go to the Landing page

Website Link: https://www.nfteahouse.xyz/

2. Go to the NFTEA DApp

Method 1: Click “Go to DApp” on the Landing page

Method 2: Enter URL: https://nftea.homes

Method 3: Go to the DApp by clicking the shared link

3. Connect Wallet

3.1 Install Wallet

（1）Wallet currently supported: Metamask

(2) Install the wallet in your browser

(3) Create/import account

(4) Select account

3.2 Click “Connect” on the NFTEA DApp page

3.3 Select a wallet

3.4 Switch networks

NFTEA currently supports Polygon mainnet. If you are using another network, you need to switch to the network NFTEA currently supports via your wallet.

3.5 Complete the wallet connection and check the login status.

3.6 View account information

4. Go to the Option market

4.1 Click “Market” on the top of the menu to enter the NFT Options market

4.2 Select NFT options

Option types currently supported:

(1) NFTs (WorldCup2022 @Qatar) on Polygon as the underlying

(2) Call Options

(3) European Options

(4) Cash delivery (Cash: USDC)

5.Go to the Option detail page

5.1 View the basic information of Option:

(1) Underlying: World Cup team NFT, the final value will be determined by the team’s final ranking in the World Cup (calculated by smart contracts)

(2) Strike Price: The default is 0

(3) Estimated Time

(4) Settlement Payout: shows the maximum and minimum range, and the specific return will be calculated according to the market value of the underlying asset. The final value of the underlying asset will deduct the exercise price.

(5) Option price (Premium)

5.2 View more information about options

(1) Option status

(2) Option NFT information

(3) Introduction to the rights and interests of option holders

6. Buy Option

6.1 Fill in the quantity of Options you wish to purchase

6.2 Set price slippage and trading hours

(1) The option price adopts the xy=k model, the price changes with the occurrence of the transaction, and the user completes the transaction by setting the price slippage and the transaction completion time.

(2) Users can set the price slippage and trading time at the top right corner of the menu

(3) The default slippage is: 5%

(4) Default maximum transaction completion time: 20 minutes

6.3 Click “Purchase Option”

6.4 Confirm the order

6.5 Go to the wallet and authorize USDC for NFTEA

6.6 Confirm the transaction in the Wallet

6.7 View Transaction Information

6.8 Viewing Trading Results

(1) “Purchase successful” pop-up window

After the transaction is completed, users can view the purchase information in the pop-up window, including the number of options and the final price

(2) Click View on Explorer

Jump to Polygonscan to view transaction details

(3) When the transaction is concluded, users will receive the corresponding amount of the underlying asset of the option free of charge, and the user can check and sell it at Opensea

7. View purchased options

7.1 View by:

(1) Users can click “View purchase” in the transaction completion pop-up window to enter the Profile page to view the purchased Options

(2) Users can directly click Profile in the top menu bar to view the Options

(3) Users can also get to the details page of Option to view the balance of the Options they hold

(4) Users can view the options held by Opensea and can trade them

8. View the NFTs that have been sent to you

(1) Users can click Profile in the top menu bar to view the NFT gifted

(2) Users can view the NFT holdings in Opensea and can trade them

9. Exercise

When the option reaches the pre-set exercise period of the contract, the user can exercise the options held in the Profile

10. View earnings