{"license":"CC-BY-4.0","licenseUrl":"https://creativecommons.org/licenses/by/4.0/","attribution":"ChainChoice (https://chainchoice.io)","category":"options_vaults","evidenceReadAt":"2026-09-27","generatedAt":"2026-11-12","criteria":[{"id":"verifiable_track_record","label":"Verifiable per-vault track record","weight":32},{"id":"depositor_cost_disclosure","label":"Published cost to the depositor","weight":24},{"id":"documented_drawdown_risk","label":"Documented loss profile in a drawdown","weight":22},{"id":"security_and_operating_record","label":"Audit, incident and operating record","weight":22}],"providers":{"derive":{"verifiable_track_record":{"s":9,"q":"\"vault_name\": \"LBTC Covered Call Spread\" | \"vault_name\": \"weETH Covered Call Spread\" | \"vault_name\": \"rsETH Covered Call\" | \"vault_name\": \"rswETH Covered Call\" | \"block_timestamp\": 1784853615","u":"https://api.lyra.finance/public/get_vault_statistics","d":"2026-09-27"},"depositor_cost_disclosure":{"s":2,"q":"A Vault may charge management fees, performance fees, protocol fees, trading fees, execution fees, withdrawal fees, or other charges. | Any fees applicable to a Vault will be determined by the relevant Vault terms, protocol configuration, Vault Operator, or applicable fee schedule.","u":"https://www.derive.xyz/terms-of-use","d":"2026-09-27"},"documented_drawdown_risk":{"s":8,"q":"On the upside, profit potential is limited, and on the downside there is the full risk of holding the asset below the strike.","u":"https://help.derive.xyz/en/articles/9351620-harvest-strategy","d":"2026-09-27"},"security_and_operating_record":{"s":6,"q":"March 27, 2025 | The contracts for the tokenized vault strategies have been audited by Sigma Prime","u":"https://help.derive.xyz/en/articles/9709491-audits-vault-smart-contracts","d":"2026-09-27"}},"rysk":{"verifiable_track_record":{"s":3,"q":"It is set off-chain by governance (signed by the Governor) and submitted on-chain at each epoch boundary. | The full NAV — which nets out the current market value of all open option positions — is calculated off-chain using aggregated pricing from a committee of option desks and submitted to the…","u":"https://docs.rysk.finance/rysk-premium/rysk-premium-explainer.md","d":"2026-09-27"},"depositor_cost_disclosure":{"s":5,"q":"The pool has two fee tiers, both expressed in basis points (bps): | Fees accumulate on-chain in `accumulatedCuratorFees` and `accumulatedProtocolFees`. They are excluded from the pool's NAV calculation (the `getBalance()` function subtracts them).","u":"https://docs.rysk.finance/rysk-premium/rysk-premium-explainer.md","d":"2026-09-27"},"documented_drawdown_risk":{"s":9,"q":"LP capital is at risk. If options written by the pool expire deep ITM, the pool pays out more collateral than it collected in premiums, reducing NAV per share. In extreme scenarios, LPs could lose a significant portion of their deposited capital.","u":"https://docs.rysk.finance/rysk-premium/rysk-premium-explainer.md","d":"2026-09-27"},"security_and_operating_record":{"s":6,"q":"Rysk V12 mk3 + Lean Gamma (current) | Lean Gamma Upgrade Procedure Audit (current) | Rysk Premium mk0 (current)","u":"https://docs.rysk.finance/resources/security.md","d":"2026-09-27"}},"typus":{"verifiable_track_record":{"s":5,"q":"Check Historial Performance | https://docs.google.com/spreadsheets/d/1rK0wEayKDMJpzxYh6zs33RhyiXjPAy9vvlEfGNLOjPg/edit?usp=sharing","u":"https://docs.typus.finance/vault-depositor-option-seller","d":"2026-09-27"},"depositor_cost_disclosure":{"s":9,"q":"Deposit Fee: 0.0% | Withdrawal Fee: 0.0% | Claim Fee: 0.0% | Compound Fee: 10-15% of rewards | The fee is charged by Typus to the Option Seller (who is also the Vault Depositor), because the option seller is the net premium (reward) receiver. | 10% fee on other vaults | Updated 10 Feb 2026","u":"https://docs.typus.finance/fees","d":"2026-09-27"},"documented_drawdown_risk":{"s":8,"q":"Vault Settlement: The buyer gets [ (20 - 15) / 20 ] = 0.25 SUI from you | You lose 0.1875 SUI ( 0.0625 SUI - 0.25 SU = -0.1875 SUI ) | You lose 2 USDC ( $1 - $3 = -$2 )","u":"https://docs.typus.finance/vault-depositor-option-seller","d":"2026-09-27"},"security_and_operating_record":{"s":5,"q":"successfully underwent an audit in October 2023. | MoveBit | completed smart contract audits by two institutions in May 2023.","u":"https://docs.typus.finance/audit","d":"2026-09-27"}},"sofa":{"verifiable_track_record":{"s":3,"q":"For full transparency, please see the following example of how fees and payoffs are calculated in our protocols. | From the next 16:00 (UTC+8) to Expiry Day 16:00 (UTC+8) | Payoff_{inUSDT} = Notional_{Deposit} + AAVEInterest_{Actual} - Premium * (1 + 0.15)","u":"https://docs.sofa.org/technical-design/fees.html","d":"2026-09-27"},"depositor_cost_disclosure":{"s":9,"q":"SOFA will collect 15% of the user's option premium as a base trading fee. Furthermore, in the event of a 'winning' payout occurring for the user, a further 5% settlement fee will be charged against the total Gross Upside Payout.","u":"https://docs.sofa.org/technical-design/fees.html","d":"2026-09-27"},"documented_drawdown_risk":{"s":8,"q":"For Surge-based products, if the actual asset price movement moves unfavourably against the terms of product (e.g. outside the barriers), there is a risk of losing the entire principal.","u":"https://docs.sofa.org/security/external.html","d":"2026-09-27"},"security_and_operating_record":{"s":8,"q":"The initial SOFA protocols have passed a full chain audit with Peckshield, Code4rena, and SigmaPrime. | We do not take or handle user assets at all. All deposit flow is handled by the on-chain smart-contract and vaults.","u":"https://docs.sofa.org/faq/","d":"2026-09-27"}},"premia":{"verifiable_track_record":{"s":1,"q":"This Vault will go live immediately after the launch of the V3 protocol | planned and being developed to go live in the near future | brought forward from the previous version of our platform by popular demand","u":"https://docs.premia.blue/the-premia-protocol/concepts/vault-depot.md","d":"2026-09-27"},"depositor_cost_disclosure":{"s":4,"q":"LPs pay management and performance fees. Management fees are for managing LPs' assets, and performance fees are for generating positive returns. Fees are triggered upon a transfer or redemption and are only paid on the transferred/redeemed amount.","u":"https://docs.premia.blue/the-premia-protocol/concepts/vault-depot/underwriter-depot.md","d":"2026-09-27"},"documented_drawdown_risk":{"s":3,"q":"Trading in Premia's DEPOT can lead to substantial and immediate financial losses. | These include but are not limited to, volatile market price fluctuations, flash crashes, potential market manipulation, and cybersecurity threats.","u":"https://docs.premia.blue/the-premia-protocol/concepts/vault-depot/what-is-a-depot.md","d":"2026-09-27"},"security_and_operating_record":{"s":5,"q":"Knox Vaults by [Sherlock](https://app.sherlock.xyz/audits/contests/4) & [Arbitrary Execution](https://github.com/sherlock-audit/2022-09-knox-judging/blob/main/Audit_Report.pdf) | Knox Incremental Audit by [Arbitrary Execution](https://files.premia.finance/$/UeJhd) | Premia V3 by [Arbitrary…","u":"https://docs.premia.blue/resources/audits.md","d":"2026-09-27"}},"thetanuts":{"verifiable_track_record":{"s":1,"q":"\"name\":\"Thetanuts Finance\" | \"category\":\"Yield\"","u":"https://api.llama.fi/protocol/thetanuts-finance","d":"2026-09-27"},"depositor_cost_disclosure":{"s":2,"q":"Users can expect to see a number of fees on Thetanuts Finance, corresponding to the different modules on Thetanuts Finance v3.","u":"https://docs.thetanuts.finance/other-information/faq","d":"2026-09-27"},"documented_drawdown_risk":{"s":4,"q":"Basic Vaults sell out-of-money (\"OTM\") European cash-settled options to accredited market makers, and generate yields for users in the form of option premiums | represent short volatility instruments, either as short call or short put positions","u":"https://docs.thetanuts.finance/v3-protocol-upgrade/basic-vaults","d":"2026-09-27"},"security_and_operating_record":{"s":1,"q":"Thetanuts Finance uses battle-tested contracts and has been audited by multiple leading security firms. | Basic Vaults, Stronghold, Degen Vaults, Wheel Vaults, $NUTS Token | (May 2022) | Last updated 2 years ago","u":"https://docs.thetanuts.finance/contracts-and-security/security","d":"2026-09-27"}},"stryke":{"verifiable_track_record":{"s":1,"q":"\"name\":\"Stryke SSOV\" | \"category\":\"Options\"","u":"https://api.llama.fi/protocol/stryke-ssov","d":"2026-09-27"},"depositor_cost_disclosure":{"s":1,"q":"Protocol fees are currently charged only on option purchases made through CLAMM. | Buying Options: A fee of 15% is applied when users purchase options. | Liquidity Provision: No fees are charged for providing or managing liquidity positions. | 2025-10-17T13:51:44.143Z","u":"https://docs.stryke.xyz/tokenomics/protocol-fees","d":"2026-09-27"},"documented_drawdown_risk":{"s":1,"q":"a strategic shift towards a more efficient and streamlined operational model | Product Overview (CLAMM) | Last updated 2 years ago","u":"https://docs.stryke.xyz/","d":"2026-09-27"},"security_and_operating_record":{"s":2,"q":"Stryke has moved to Premarket. | https://app.premarket.xyz","u":"https://www.stryke.xyz/en","d":"2026-09-27"}},"3jane_options":{"verifiable_track_record":{"s":5,"q":"\"timestamp\":\"2024-06-25T23:01:11.699Z\",\"tvlUsd\":2310147,\"apy\":7.03891,\"apyBase\":null,\"apyReward\":null,\"il7d\":null,\"apyBase7d\":null,\"pricePerShare\":null","u":"https://yields.llama.fi/chart/ededa9e7-d50b-405d-b1f7-92ff083001ba","d":"2026-09-27"},"depositor_cost_disclosure":{"s":0,"q":"- [Introduction](https://docs.3jane.xyz/introduction.md): The Credit-Based Money Market | - [Motivation](https://docs.3jane.xyz/levered-callable-capital-lcc/lcc.md) | - [Risks](https://docs.3jane.xyz/risks.md) | - [Audits](https://docs.3jane.xyz/resources/audits.md)","u":"https://docs.3jane.xyz/llms.txt","d":"2026-09-27"},"documented_drawdown_risk":{"s":1,"q":"## Risks to Suppliers (USD3 / sUSD3) | ## Risks to Merchants (Crypto Credit Lines)","u":"https://docs.3jane.xyz/risks.md","d":"2026-09-27"},"security_and_operating_record":{"s":3,"q":"Veridise | August 18th, 2025 | yaudit-usd3-susd3-may-2026-audit.pdf | ## LCC | guardian-lcc-august-2026-audit.pdf","u":"https://docs.3jane.xyz/resources/audits.md","d":"2026-09-27"}}}}