Stages of a Deal

Roles

A Surge deal creates a relationship between stakers and a sponsor.

• A "sponsor" sets up the deal, makes an offer, and can "claim" stakes if the offer is successful

• A "staker" adds and removes stakes, and receives the delivery from a successful offer. The staker is the owner of a "stake NFT" that gets minted for each stake.

States

Configuration

After the sponsor creates the deal, the deal is in CONFIGURATION state. It will not accept stakes. The sponsor can add and edit attributes such as the description and links, an attached NFT image and metadata, and whitelist requirements. Then, the sponsor can change the state to "Active"

Active

An ACTIVE deal accepts staking and unstaking.

The sponsor can edit some attributes, such as transferrability of NFTs, and add or remove whitelisting requirements.

The sponsor can propose deal terms by setting a closing time, editing the description, and adding some contract terms such as the minimum and maximum claimable amounts.

Active with closing terms

After the sponsor sets the closing time, the deal is "Active with closing terms". Stakers can stake and unstake.

Surge deals allow time for stakers to review the terms of an offer, and unstake if they do not like the offer. This is implemented with a "closing delay". A sponsor proposes terms by setting the description, minimum, maximum, arbitrator, and closing time. The closing time must be at least "closing delay" time in the future.

Claiming

When a deal gets to the closing time, and it satisfies terns such as having the minimum required amount of stakes, it moves to CLAIMING state. Stakers cannot stake or unstake.

The sponsor has 7 days to claim the stakes that are less than the deal maximum, and deliver assets to satisfy the terms. If the deal has an arbitrator, the arbitrator will need to approve the claim.

Stakers can unstake after a claim, or after the 7 day claiming time. Stakers may need to unstake from a closed deal if their stakes are past the maximum claim amount.

If a deal does not reach the minimum value for claims, stakers can unstake. A sponsor can set it back into Active state and try again with improved terms.

Canceled or Closed

Stakers can unstake from a canceled or closed deal. Stakers cannot add stakes. The sponsor cannot make any changes.

Sponsors can cancel at any time. The sponsor should cancel if a problem appears in the deal, or if the deal loses momentum.