Vexi — leverage on memes and stock tokens, with no liquidation price

Why not a perp

Right about the direction. Liquidated anyway.

One coin, one week, the same path. A bleed you would have survived, one wick you could not react to, and then the move you were right about all along.

The same $9.36, the same week, the same coin. One of them was there at the end.

How it works →

Vault · Uniswap v3 & v4

The yield that still pays when the volume stops.

Fees track volume. Premium tracks volatility — and gets dearer exactly when volume dries up and fees fall to nothing. One deposit earns from both, so this is not another layer of yield on an LP position; it is a second source of revenue that pays in the other regime.

Not summed, and not simultaneous: a given dollar earns swap fees while its quote is live and unfilled, and at the fill it leaves the pool with the premium already banked. Both at once is true of the vault, from different slices of it.

Deposit

PONS / USDGv3 / v4

MARSCOIN / USDTv3 / v4

Stablecoinplain

Vault

One vaultquotes all of it

Markets

AI / USDG

MEME / USDG

PONS / USDG

strike	Sep 5, 7:05 PM4h		Sep 6, 7:05 PM1d		Sep 8, 7:05 PM3d
strike	call	put	call	put	call	put
$0.5625	0.1219740%5.3×	0.0023897%17.3×	0.15151,705%3.5×	0.03192,068%4.7×	0.20131,456%2.5×	0.08171,766%2.2×
$0.7500	0.01223,923%13.9×	0.08013,568%6.4×	0.05943,179%5.1×	0.12732,891%3.0×	0.12182,173%3.0×	0.18971,976%1.7×
$0.9375	0.0002270%24.5×	0.255651%2.6×	0.02031,084%6.6×	0.2757789%2.0×	0.07371,315%3.5×	0.3291957%1.3×

premium · APR to whoever writes it · leverage to whoever buys it

One deposit, and the vault quotes every level in its mandate off it. The levels do not split it: with projected liquidity every book is promised the same pot, and the capital stays in the pool earning fees until a fill takes its slice. Learn more →

Open a vault How it works →

How it works

Three choices. Then a number worth chasing.

The whole trade is picking what, how far, and by when. Everything after that is the contract doing what it said it would.

Which

Pick the coin.

AIPONSMEMETSLA soon

Where

Pick the level it has to clear.

+10%+25%+50%…

When

Pick how long it has.

1h4h19h1d

→

If it gets there+556%

on the $0.0936 you paid, from a coin that moved 100%.
If it does not, you lose the $0.0936. Nothing else can happen.

Try it →

How it works

Where the yield comes from, and how it ends.

The APR, worked

Take the $0.7500 call, four hours out, from the table above.

premium0.0122what the buyer pays

− intrinsic0.0000the coin’s own value in it; here the strike is above spot, so none

= time value0.0122what the writer is actually paid for waiting

÷ collateral0.6821one coin, locked; a put would lock the strike in cash instead

÷ 4h of a year0.000457annualised, which is what makes a four-hour number comparable

APR3,923%and the buyer’s side of the same quote is 13.9×

On time value, not the whole premium. Written whole, a deep in-the-money option prints its largest APR exactly where it earns least.

Settlement, physically

No oracle reads a price. The contract moves the actual coins.

expiryTrading stops.The level is fixed and the contract stops quoting. Nothing is decided yet.
+0h → +8hThe exercise window.Whoever holds a winning contract claims it. A call takes the coin and pays the strike; a put hands the coin over and takes the strike in cash.
anyoneSomebody else can finish it for you.Opt in once and any keeper may claim on your behalf, paid a bounty out of the claim for doing it. Being asleep is not how you lose a winning position.
window endsThe collateral frees.Whatever was not claimed expires, and the writer’s coin or cash is theirs again — on the clock, not when somebody remembers to ask.