> ## Documentation Index
> Fetch the complete documentation index at: https://docs.canopy.deal/llms.txt
> Use this file to discover all available pages before exploring further.

# How to Create a Collateralized Block Offer on Canopy

Creating an offer on Canopy locks your asset tokens as collateral inside the venue's escrow. The moment the creation transaction confirms on Robinhood Chain, your offer appears in the live order book and is immediately available to be filled. Because collateral is fully escrowed, buyers can trust the offer size without relying on any off-chain guarantee — and you can trust that a fill will only execute at the exact price and terms you specified.

## Steps

<Steps>
  <Step title="Connect your wallet and navigate to a market">
    Ensure your wallet is connected to Canopy on Robinhood Chain (see [Connect Your Wallet](/guides/connecting-wallet) if needed). In the market list, select the asset/quote pair you want to trade — for example, `TECH / USDC`. If no market exists for your token pair, select **Custom Tokens** and enter the asset and quote token contract addresses to create a new market.
  </Step>

  <Step title="Click &#x22;New Offer&#x22; or &#x22;Sell&#x22;">
    With the correct market loaded, click the **New Offer** button (sometimes labeled **Sell**) in the order book panel. This opens the offer creation form.
  </Step>

  <Step title="Enter the asset amount">
    Type the number of asset tokens you want to sell. This is the exact amount that will be transferred from your wallet into the venue's escrow when you confirm the transaction. Make sure your wallet holds at least this balance before proceeding.
  </Step>

  <Step title="Set the price">
    Enter your ask price as a decimal representing the quote token cost per single asset token — for example, `0.43` for `0.43 USDC per TECH`. The Canopy interface converts this decimal into the on-chain `pricePerUnit` representation to avoid rounding errors. Verify the computed **Total Quote Value** shown in the summary before continuing.
  </Step>

  <Step title="Set an expiry">
    Choose when the offer should stop accepting fills. After the expiry timestamp, no buyer can fill the offer. You will need to cancel the offer to recover any unfilled collateral after expiry. The expiry must be in the future.
  </Step>

  <Step title="Choose the offer type">
    Select one of two settlement models:

    * **Spot** — the buyer receives asset tokens immediately when the fill transaction confirms.
    * **Forward** — the buyer receives ERC-20 claim tokens at fill time and can redeem them for the underlying asset after a specified unlock time.
  </Step>

  <Step title="Set an unlock time (Forward offers only)">
    If you selected **Forward**, use the date and time picker to choose when the claim tokens become redeemable. The unlock time is immutable once the offer is created, so choose carefully. The protocol requires the unlock time to be at or after the expiry date — meaning the offer always stops accepting fills before claims can be redeemed.
  </Step>

  <Step title="Choose visibility">
    Select who can fill your offer:

    * **Public** — any wallet can fill up to the remaining offer size.
    * **Private** — only one specific wallet can fill the offer. Enter the buyer's wallet address in the **Buyer Address** field. The protocol enforces this restriction on-chain; no other address can interact with the offer.
  </Step>

  <Step title="Review the offer summary">
    Before approving any transaction, confirm every field in the summary panel:

    | Field                | What to check                                    |
    | -------------------- | ------------------------------------------------ |
    | **Total Collateral** | Matches the asset amount you entered             |
    | **Price**            | Matches your intended ask                        |
    | **Expiry**           | Correct date/time for fill deadline              |
    | **Settlement**       | Spot or Forward                                  |
    | **Unlock Time**      | Correct date/time (Forward only)                 |
    | **Buyer**            | Correct buyer address (Private only) or "Public" |
  </Step>

  <Step title="Approve the Canopy contract to transfer your tokens">
    Click **Approve** and confirm the approval transaction in your wallet. This grants the venue permission to pull your asset tokens when you create the offer. This approval is per-token and only needs to be completed once per asset — subsequent offers using the same asset token skip this step.
  </Step>

  <Step title="Click &#x22;Create Offer&#x22; and confirm in your wallet">
    Click **Create Offer**. Your wallet will display a transaction confirmation prompt showing the contract interaction and estimated gas fee. Review the details and click **Confirm** to broadcast the transaction.
  </Step>

  <Step title="Verify your offer is live">
    After the transaction confirms, Canopy updates the order book in real time. Your new offer will appear in the **SELL** side of the market and in the **My Offers** tab at the bottom of the terminal. The collateral is now fully escrowed and your offer is open for filling until expiry.
  </Step>
</Steps>

## Important Considerations

<Warning>
  Once you create an offer, your collateral is locked in the venue's escrow. You can only recover unfilled collateral by cancelling the offer from the **My Offers** tab. Any portion of the offer that has already been filled cannot be retrieved — the quote tokens from those fills have already been delivered to your wallet.
</Warning>

<Tip>
  For large positions, consider splitting the total into multiple offers at slightly different prices (a small price ladder). This gives buyers flexibility to fill at the price that suits them and can result in faster, more complete execution compared to a single large all-or-nothing offer.
</Tip>

<Note>
  If your asset token charges a fee on transfer (a "fee-on-transfer" token), the amount actually received by the venue will be slightly less than the amount you enter in the form. The offer will be created for the net received amount. Double-check the **Total Collateral** shown in the confirmation summary to ensure it matches your expectations.
</Note>