The four terms that define the position
Before execution, Stryx presents the asset you commit, the possible settlement asset, the target price, and the expiry. A quoted annualized rate helps compare terms but does not describe the position's full risk or promise a profit.
- Direction: Buy Low or Sell High.
- Target: the price used to determine whether conversion occurs.
- Expiry: the observation time when the settlement condition is evaluated.
- Settlement assets: the two assets you may receive under the terms.
Buy Low
You commit the quote asset, such as a supported stable asset, because you are willing to acquire the paired crypto asset at the target. If the expiry reference price is at or below the target, the position generally converts at that target. Otherwise it generally settles in the asset deposited.
Worked example
Assume a $3,000 target (strike) and Friday 16:00 UTC expiry. You commit 3,000 USDC and ignore product return and fees for this illustration. If the venue's observed ETH settlement price is $2,900, the condition is met: conversion at the $3,000 strike returns 1 ETH, whose observed value is $2,900. If the observed settlement price is $3,150, the condition is not met and the position returns 3,000 USDC rather than ETH.
Sell High
You commit the crypto asset because you are willing to sell it at the target. If the expiry reference price is at or above the target, the position generally converts into the paired settlement asset at the target. Otherwise it generally remains in the deposited crypto asset.
Worked example
Assume the same $3,000 strike and Friday 16:00 UTC expiry. You commit 1 ETH and ignore product return and fees. If the observed ETH settlement price is $3,200, the condition is met: conversion at the strike returns 3,000 USDC and does not capture the extra $200 market value. If the observed settlement price is $2,850, the condition is not met and the position returns 1 ETH, whose observed value is $2,850.
What Stryx adds
Stryx provides a self-custodial interface for comparing supported terms, checking possible outcomes, connecting a master wallet, and authorizing a transaction or scoped executor-wallet permission. Depending on the route, approved funds may move to an executor wallet or venue contract for execution and settlement. You control the authorization and never provide Stryx with a seed phrase, but committed funds remain exposed to smart-contract, venue, network, settlement, and delegated-execution risk.
Review the Stryx Dual Investment workflow before opening the terminal.
Risk summary
Dual Investment can convert your funds into the asset you did not expect to hold during a fast market move. Funds may be unavailable until expiry, early exit may not exist, and the received asset can lose value. Rates, liquidity, fees, oracle observations, smart contracts, and settlement providers can also affect results. No yield or profit is guaranteed.
Continue with the Dual Investment risks and limitations guide.