Transcoder Campaign: LPT Futures

Transcoders Transcoder Campaign
1

Welcome to LPT Futures.

LPT Futures is a project to build tools to sell Livepeer Tokens (LPT) which are staked to the network.

If you would like to support this project, you can BOND your LPT to the project using the project’s page.

2 Likes
2

Hey LPT Futures!

How do you plan on selling staked LPT?

3

Hi @yondon - thank you for your question.

The contract currently allows a seller to specify a sell order of X LPT for Y DAI, with delivery by a certain block number P in the future. The seller also commits Z DAI as collateral.

The buyer fills the sell order by depositing Y DAI, which gets locked along with the collateral Z DAI until the order is finalised. This allows the seller to unbond their X LPT knowing that they will receive the buyer’s Y DAI.

The order is finalised either when:

  • The seller delivers the X LPT and receives the buyer’s Y DAI, plus their collateral Z DAI,

or

  • The seller fails to deliver by block P, and the buyer withdraws their Y DAI, plus the collateral Z DAI.

We are currently trialing an initial version of the contract to facilitate this - you can join lptfutures channel on Telegram to find out more.

4

Announcing LPT Futures Telegram channel. To join, go to https://t.me/lptfutures

We are currently trialing a prototype dApp for selling staked LPT.

5

Got it!

I think an alternative way to sell staked LPT is to deploy a contract that holds and delegates LPT. Bonded LPT and rewards would be sent back to the contract after the unbonding period. The contract could be ownable such that ownership could be transferred to other users as a part of a trade. Perhaps the contract could also be represented as an NFT (with a particular LPT denomination).

1 Like
6

Thank you for this suggestion @yondon - I have created an issue in the lptfuture research repository on github and added a question.

7

I’m not sure how much work this would entail but it would make the product a lot closer to a traditional futures contract. Giving the buyer the option to sell before expiry would allow a secondary market to form and thus more liquidity.

The product is great as is, but tokenization would make it better