We combined assets differently inside an American put option structure in order to form a structured product that so far was not existent in DeFi. This product allows the seller to get a higher yield on its investment or to buy the underlying asset at a higher discount and allows the buyer to get a hedge on the underlying asset price for cheaper. So under the hood users are trading American put options with a different collateral asset and different underlying assets. As a seller, a user can lock aTokens as collateral to write options on WBTC or ETH:BTC ratio and be exposed to one of the following scenarios:

 - get more yield on your aTokens or
 - Buy WBTC or ETH:BTC ratio at a discount from strike price. As a buyer, a user can buy cheaper hedge* on the underlying asset price. 
*This hedge has exposure to Aave Utilization Rate on USDC pool.

Pods showcase

How it's made

This project was built on top of our protocol of options on chain ( We improved our preexisting code by allowing people to trade options of any ERC20 tokens, use aTokens as collateral when selling a put option and minting options for UMA's synthetic asset ETH:BTC ratio. The main functions built during this hackathon were: - PodToken.sol Contract responsible for minting / exercising / withdrawing aToken model Thanks to the aToken design, it's easy to set Strike Price in numbers of aTokens instead of aToken underlying - Redistribute function() The accrued interest is distributed time proportionally to the holder position (require improvements) We also built a frontend app capable of minting and selling and buying options (directly to Uniswap). Deployed a Uniswap V1 contract instance on Kovan and created exchanges. Stack Used: React / Solidity / Waffle / Buidler / Solhint / Open Zeppelin / Uniswap / Remix (interface testing)