Users: Claiming Airdrops Through Fusion
You have received an option airdrop now what? Here’s a walkthrough example of viewing your option airdrops and how to claim them.
The Fusion Landing Page
- Connect your wallet to view any airdropped options that you may have in your dashboard.
- The dashboard will display all unclaimed options that your wallet holds from the various projects that utilize Fusion.
- Here you will see:
- The protocol/project information that distributed the option
- The expiration date of the options
- Total amount of options
- The strike price of the options
- The current price of the token
- “EXERCISE” button
- To view more detailed information about the options or to exercise them, click the “Exercise” button
- In this view, you will see the details of the option. This includes:
- the Style of the Options: American or European
- The number of tokens you will receive when you exercise
- The costs/fees required to exercise the max total of options held
- The net value you will receive if you exercised the options at current token prices
Oftentimes, airdropped options will have a token price that is less than the strike price which is why you see a negative Net Value in USDC. This means that it is cheaper to buy the underlying tokens on open markets like Serum or Jupiter than it is to exercise your options.
Fusion recommends holding onto your option airdrops until the Net Value becomes positive. Users benefit from the token appreciation above the strike price being able to sell the token for higher than you exercised it for.
- Users have until the expiration date to exercise their positions. If the Net Value is negative and the expiration has passed, the options will expire worthless. This is great because users receive option airdrops for holding $PSY and can decide if the options are beneficial to exercise or not with minimal exposure risks.
- When users exercise, the exercising fees get distributed to the protocol that issued the options allowing the team to raise money for their treasuries. Only exercise if its in your best interests, and always DYOR.
- To exercise, select the number of options you would like to exercise and click “Exercise”. Make sure you have enough USDC for the exercising fee and approve the transactions!