🎙️Echo BTC Option

How to join Echo BTC Option?

Preparation

1. First, you need to connect your Aptos wallet (such as Petra) on the ECHO Protocol website.

2. Make sure your wallet is switched to the Aptos network.

3. Next, ensure you have sufficient aBTC assets in your wallet. If you don’t have aBTC yet, you can obtain it through ECHO Vaults.

4. Please also ensure there is enough APT in your wallet to cover gas fees before using aBTC Yield.

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Select an aBTC Yield Product

1. Enter the Yield page on ECHO Protocol.

2. You will see multiple aBTC Yield products displayed, each showing:

   1. Investment cycle (14 days or 28 days)

   2. Strike price (USD-denominated)

   3. Estimated APR

   4. Total capacity and remaining capacity

3. Choose a suitable product based on your market outlook and risk preference:

   1. Lower strike price → higher premium, higher chance of exercise

   2. Higher strike price → lower premium, lower chance of exercise

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Deposit aBTC

1. After selecting a product, click “Deposit” on the product card.

2. Enter the amount of aBTC you want to deposit.

3. Confirm the deposit and complete the approval transaction in your wallet.

4. Once the transaction is confirmed, your aBTC deposit will be successful.

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Deposit Window Reminder

1. aBTC Yield products refresh parameters (strike price, premium, etc.) every 14 or 28 days.

2. After each refresh, a 24-hour deposit window opens.

3. You must complete your deposit within this window. If you miss it, you’ll need to wait for the next product cycle.

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View Your Position and Earnings

1. After depositing, you can view your active aBTC Yield position in the Echo Dashboard.

2. Premium income is distributed immediately upon deposit, so you start earning from day one.

3. You can always check:

   1. Deposited amount

   2. Received premium

   3. Product expiry time

   4. Settlement status

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Settlement at Expiry

1. At expiry, settlement depends on aBTC’s market price relative to the strike price:

2. If price is below the strike price: You can withdraw 100% of your aBTC and keep all earned premium.

3. If price is above the strike price: The option is exercised automatically. You receive USD-equivalent assets at the strike price, plus the premium already earned.

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Important Notes

1. Deposited aBTC will be locked until expiry and cannot be withdrawn early.

2. This lock-up is required because aBTC is used as collateral for the Covered Call strategy.

3. We recommend:

   1. Only depositing idle funds

   2. Choosing cycles (14D / 28D) that fit your liquidity needs

   3. Preparing aBTC and gas fees in advance before the deposit window opens