Taking Delivery

If you have fJLTs, you can exchange them for JLTs. This exchange process is called “taking delivery.”

How to Take Delivery

In the app, navigate to the “take delivery” section of the forwards page in the app and select the “request delivery” tab. Enter the number of JLTs you would like to take delivery on and click “initiate delivery.”

This will transfer the forwards form your wallet to the smart contract and prepare the JLTs for delivery.

When you’re JLTs are ready for pick-up, navigate to the “take delivery” section of the forwards page in the app and select the “take delivery” tab. Enter the number of JLTs you’d like to take delivery of and click “take delivery.”

When to take Delivery

You can request delivery at any time before the forwards expire, but they may not be available for pick-up until after the final delivery date.

Delivery Queue

The delivery queue keeps track of requests from users to take delivery and fills them in the order they were placed. While you’re request is in the delivery queue, your forwards are held by the smart contract. If you leave the queue, your forwards will be returned from your wallet, but your request will lose it’s spot in line.

Delivery Risk

In any forwards market, there’s a risk that the underlying spot assets will not be delivered or will be delivered late. This is called “delivery risk.”

In the current version of the Jasmine Forwards Protocol, all of the forwards tokens minted are collateralized by PPAs help by Jasmine Energy. In the event that a minter misses final delivery, Jasmine can seize these PPAs and sell them to make delivery of the RECs on the minters behalf. In future versions of the protocol, these collateral will be posted on-chain and third parties will be able to liquidate.