Uniswap LPs already sell options for free. Vexi pays them a premium. Earn on U.S. equity tokens or buy the upside with no liquidation, all from natural Uniswap liquidity. Live on Arbitrum & Robinhood.
WHAT
On-chain options on U.S. equity tokens, from natural Uniswap liquidity. Live on Arbitrum & Robinhood.
PROBLEM
Every on-chain options protocol so far traded something away: sourcing liquidity (everyone, even Polymarket), external market makers (Derive, Rysk), fragmented liquidity and RFQ (Dopex, Rysk, Panoptic), bad debt from cash margin (Lyra v1). Most cannot quote U.S. equities at all.
WHY UNISWAP LPS
Liquidity is everything, and it is already there. A Uniswap LP sells NVDA as it rises and buys as it falls: an option seller without the expiry, carrying the same risk for swap fees only. Vexi pays that risk a premium.
SOLUTION, FOUR IN ONE
Uniswap LPs are the liquidity: natural liquidity, no RFQ.
Model pricing, inspired by Lyra: no market makers.
One shared pot prices all books: nothing fragmented, nothing idle.
Delivery in kind: no cash margin, no bad debt.
So any Uniswap pool can have an options market.
HOW IT WORKS: NOTHING SITS IDLE
Deposit NVDA + USDG once. The vault parks it in the Uniswap pool, earning swap fees from day one. When a trader buys an option, the vault locks just that collateral and collects the premium; the rest keeps earning swap fees. At expiry the option delivers in kind, straight back to the pool.
Vexi Earn: covered calls on your U.S. equity tokens. Pick a price and a date, get paid while you wait.
Vexi Leverage: buy the upside. Pay up front, no liquidation, no cap.
WHY NOW
$1.7B of U.S. equity tokens on-chain, 5x in a year.
$450M of NVDA traded on Robinhood Chain every month, zero premium earned on it.
No U.S. equity covered calls on Binance, OKX or Hyperliquid yet.
TRACTION
Live on Robinhood Chain mainnet since Oct 22, 2026: NVDA/USDG, whitelisted beta.
~$300K of covered calls committed by institutional clients.
1,000+ X followers on day one.
ETHGlobal Tokyo 2026: 1st place from the Uniswap Foundation and from 1inch; Uniswap Hook Incubator.
BUSINESS MODEL
2% of every premium + 5% of vault profit. At Rysk's size today ($38M deposited, $1.3M of premium a month), about $600K a year.
TEAM
Eric Fang, Co-founder & CEO: 12 years in TradFi, 7 as a quant; options product to $100M+ volume a month; grew a protocol to 170,000 daily users.
Abner Huang, Co-founder & CTO: 6 years of smart contracts; CDP protocol past $500M TVL; the mindshare system behind 3M+ posts on X.
LINKS
vexi-protocol.ai · App (whitelisted beta) · x.com/vexiprotocol