> For the complete documentation index, see [llms.txt](https://docs.divergence-protocol.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.divergence-protocol.com/overview.md).

# OVERVIEW

- [Divergence Protocol](https://docs.divergence-protocol.com/overview/divergence-protocol.md)
- [Protocol Basics](https://docs.divergence-protocol.com/overview/protocol-basics.md): Get started with foundational concepts of Divergence v1.
- [Digital Options](https://docs.divergence-protocol.com/overview/protocol-basics/digital-options.md): Digital options, also known as binary or bet options, offer a predetermined risk and reward for the holder. Digital calls and puts are minted as Spear and Shield tokens, respectively.
- [Triangular Swaps](https://docs.divergence-protocol.com/overview/protocol-basics/triangular-swaps.md): At Divergence v1, one swaps collateral tokens for calls or puts. A virtual curve is used to triangulate the relative value of calls, puts and collaterals as follows:
- [Convertible Liquidity](https://docs.divergence-protocol.com/overview/protocol-basics/convertible-liquidity.md): Liquidity providers sell calls and puts within custom price ranges. They can either naked short calls or puts, or sell previously bought calls or puts.
- [Options Specs](https://docs.divergence-protocol.com/overview/protocol-basics/options-specs.md)
- [Fees](https://docs.divergence-protocol.com/overview/protocol-basics/fees.md)
- [Glossary](https://docs.divergence-protocol.com/overview/protocol-basics/glossary.md)
- [References](https://docs.divergence-protocol.com/overview/protocol-basics/references.md): Digital options are not a novel concept. They have been thoroughly explored in decades of studies on financial derivatives. Here are a few insightful ones:


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