Positions
Some people put money in at launch. It bought coins and put them in the pool, where they are stuck until — and nobody, including us, can take them out early. While they sit there they earn a cut of every trade. What those people can do is sell their slice of it, and this is where that happens: buy one and the coins stay locked, the earnings start coming to you, and on that date you get the money out.
Who holds the locked position
Everyone who backed the launch, and how much of the coin their slice is a claim on. Whether or not it is for sale you can make an offer: your money is held safely until they accept, and you can pull it back any time before that.
How it works
- Selling. Name your price and your share is held by the contract until someone buys it. That’s why every offer you see here is real, you can’t turn up to find it was already sold somewhere else. You can ask for more than it’s worth but not less: the contract works out what it’s worth and refuses anything below that, so one person panic-selling cheap can’t drag down what everybody else’s is worth.
- Buying. Pay the asking price and it’s yours. The seller gets paid in the same moment, neither of you has to trust the other and nobody holds your money in between.
- Changing your mind. Pull your offer back whenever you like. Nobody can stop you, move your position, or sell it for you. There is no admin.
Every offer shows what it’s actually worth next to what’s being asked, so you can see whether you’re paying over the odds before you decide. That figure is worked out from public information anyone can check, you never have to take a price on trust. Contract …, on Robinhood.