Tokens
eUSDC
Depositing into PopularityX converts USDC to eUSDC, the protocol's unit of account. Everything else on the board is priced and settled in eUSDC.
ERC20
PopularityX uses a family of tokens built on the ERC20 standard, modified to work as first-class protocol objects. They live in your wallet and interact directly with the on-chain system.
A board
A board defines a set of positions.
The complete set of positions on a board is equivalent to 1 eUSDC.
Long Tokens
A Long token represents transferable, positive exposure to a position.
Long Other
Long Other represents every position on a board not yet individually tokenised.
Tokenising new positions
Tokenising a new position gives Long Other holders a new Long token.
Short Tokens
A Short token constitutes the complement of exposure to a position.
Transferring a Short token moves each of its underlying Long tokens too.*
* This transfer emits a single Short token transfer event.
Auto-merge
A Long token and a Short token merge back to eUSDC automatically.
