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Why the name?

For Degens familiar with the stock market and sports betting, the words “Yolo” and “Rekt” may sound familiar; they refer to asymmetrical profits and demoralizing losses, respectively. In fact, the entire Wall Street philosophy is based on risking long positions early to capture asymmetric returns and taking short positions to hedge against inevitable downturns.

YOLOrekt is designed to mirror these wall-street behaviors in short time settings. Bidding on the price going above a strike price mirrors the long position; conversely bidding on the price going below the strike price mirrors the short position.

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