# Create

### Create position tokens with a binary payoff

*Make sure your wallet is connected to the application.*

#### **A. Pool setup**

* Go to **CREATE**
* Specify the parameters of the position tokens. By adjusting the values of Floor, Inflection, and Cap along with the values under Advanced Settings you can achieve various payoff profiles (incl. binary payoffs) which will be presented in the chart.
* Click on **NEXT** to set the **Oracle**

![Example: Pool with Binary Payoff](https://1305042189-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHZJ0AbZj1fc1i5a58eEE%2Fuploads%2FPv6xKnCC4UuGQcaSoMAY%2Fimage.png?alt=media\&token=fe898d75-0ef0-4296-884e-55fef1ed7a8e)

#### **B. Oracle setup**

* Select a whitelisted **Data Provider** from the dropdown or enter a wallet address that will report the final reference value (ideally one that you control for testing purposes)
* Click on **NEXT** to review and complete the pool creation process

![Select a data provider to report the final reference value](https://1305042189-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHZJ0AbZj1fc1i5a58eEE%2Fuploads%2FaLSkfbN5idlzoHemLMDW%2Fimage.png?alt=media\&token=f2db6b05-8181-4b41-8cae-098ef9069f1b)

#### **C. Review & create pool**

* Review all pool parameters in a single view
* Click **APPROVE** and confirm the transaction in your wallet
* Click **CREATE** and confirm the transaction in your wallet

Once completed, the pool will be created and you will see two-position tokens with directionally reversed payoff patterns added to MY DASHBOARD -> MY POSITIONS.

![Review pool parameters in a single view](https://1305042189-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHZJ0AbZj1fc1i5a58eEE%2Fuploads%2FGUUc63rjkP7i4DYPb6bK%2Fimage.png?alt=media\&token=1d8186ff-66f6-4b4a-99fa-eca3b218bcc0)

{% hint style="info" %}
**Pro-tip:** If you plan to create multiple pools using the same collateral token, you can save gas costs by approving a larger amount and then creating pools with smaller amounts until the approved amount is exhausted. More precisely, in step 1, enter a larger collateral amount, proceed to step 3 and click approve. Then, return to step 1 and create pools with collateral amounts smaller than you approved.
{% endhint %}

Using similar steps which are described above, you can create position tokens with linear, concave and convex payoff profiles. Try to complete the following tasks to learn how the different parameters impact the shape of the payoff curves.

### Create position tokens with a linear payoff

![Example: Position tokens with a linear payoff](https://1305042189-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHZJ0AbZj1fc1i5a58eEE%2Fuploads%2FRFtotjv7txPnSdQOwgF1%2Fimage.png?alt=media\&token=a877350c-2370-4972-8d2f-cfb633d0c8fb)

### Create position tokens with a convex long payoff (concave short payoff)

![Conxev/concave payoff profile for long/short](https://1305042189-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHZJ0AbZj1fc1i5a58eEE%2Fuploads%2FLN1HJNNvoTZNexgAWuLv%2Fimage.png?alt=media\&token=3ca82eff-071d-4851-bfa0-afa20cdab23b)

### Create position tokens with a concave long payoff (convex short payoff)

![Concave/convex payoff profile for long/short](https://1305042189-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FHZJ0AbZj1fc1i5a58eEE%2Fuploads%2FaVlsYF9hwSiNp4xB9yWr%2Fimage.png?alt=media\&token=619fb4c7-c136-4229-83ce-00f0ca2311ad)