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Covered Quote Mechanics

Understand how covered RFQ listings use custody receipts, locked skins, USDC collateral, and multi-signature option creation.

Writers create firm RFQ listings against a custody receipt. Calls require the referenced skin to be locked. Puts require the referenced skin plus USDC collateral equal to the strike.

Because put creation needs multiple signatures, a lifted put quote may enter a prepared transaction state until all required wallet signatures are collected and confirmed.