OvercastThe call option,
in plain terms.
Overcast offers fully collateralized, physically delivered call options on ordinary ERC20 tokens. The seller deposits the complete token lot first. A buyer pays a premium for the right, not the obligation, to pay the agreed full-lot BNB strike and receive that lot before expiry.
The fixed terms
Each offer records the token contract, exact token amount, full-lot strike, premium, acceptance deadline and exercise expiry. Strike and premium are native BNB amounts for the entire lot, not prices per token. The seller can restrict acceptance to one buyer or allow any other wallet.
The seller may cancel an offer before acceptance. After acceptance, the seller cannot cancel or withdraw the collateral early. The option cannot be transferred or partially exercised in this version.
Premium and exercise
The buyer pays the exact premium once. That payment immediately credits the seller's proceeds less the project fee. It is not a deposit toward the strike and is not refundable if the buyer does not exercise.
To exercise, the same buyer pays the exact full-lot strike before expiry and chooses a token destination. Token delivery and strike credit happen atomically. The contract does not compare the strike with a market price and will not decide or exercise for you.
Fee and seller proceeds
The fixed project fee is 0.5% of an accepted premium, rounded down in wei. It is deducted from the premium, so the buyer does not pay it on top. The seller receives the remaining premium and, if exercised, the full strike. No project fee is charged merely for posting or cancelling an offer. Network gas is separate.
BNB proceeds are credited for pull withdrawal. A failed BNB withdrawal preserves the credit; the owner can choose a different receiving address. The treasury address is fixed at contract deployment.
Deadlines and collateral return
Acceptance requires a block timestamp strictly before the acceptance deadline. Exercise requires a timestamp strictly before expiry. At the exact deadline the corresponding action is no longer available. No automatic transaction runs at expiry.
The seller can reclaim collateral after an unaccepted offer's acceptance deadline, or after an accepted option expires unexercised. Reclaiming tokens does not refund an already paid premium. The buyer must act before expiry to exercise the right.
Supported collateral
Use standard ERC20 tokens. Transfer-tax, rebasing and unusual callback tokens are unsupported. The contract requires exact changes in escrow and destination balances. A token may still freeze, blacklist, change implementation or otherwise prevent a later transfer. Check the exact token address and issuer behavior before using it.
A TEST token shown on a test network is a test asset. It is not a stock, a claim on a stock or a mainnet asset. Token metadata is read from its contract and is not proof of authenticity.
Network and contract
Current network: Loading. Options contract: Loading verified address.
The app checks the configured deployed bytecode against its published configuration. There is no upgrade or administrator function for taking option collateral. Local and public-network tests are development evidence, not an independent audit.
Terms and risks
An option may expire worthless for the buyer. A seller gives up the opportunity to sell the locked lot elsewhere and must deliver if the buyer exercises. A premium is compensation for that right, not guaranteed income without demand. Token prices and BNB prices can move sharply.
Contract defects, malicious token contracts, incorrect addresses, wallet compromise and network congestion can cause loss or delay. A pending transaction is not final. The service offers no insurance, price oracle, automatic exercise or guaranteed yield.
Wallets, offers and transactions are public onchain. The web app never needs your private key. A separate project token has no product rights or income by default.