Sell Options
Selling an option is done differently on each protocol and the smart contracts are built in a different way. Grix uses a library of adapters to integrate with each protocol and to give the user a great experience of managing their options portfolio in one place. It is important to remember that Grix is not responsible for the pricing differences or security of each DeFi options protocol it integrates with.
Selling an open position back to the protocol's poo/AMM (not an SOP limit sell order) works as follows:
Once the option is purchased and held by the user, most protocols enable market sell back to the options AMM. The “Sell” option on the Portfolio Management page appears as soon as the option is in the connected wallet.
When utilizing the Sell button, the Grix UI is simply calling the sell function (each protocol might have a slightly different name) from the protocol’s smart contract.
The relevant fees are deducted and funds move straight from the option’s writing protocol to the user. Grix is only acting as a web3 interface between the protocol’s smart contract and the user.
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