Volar
SPCX 141.04 Launch app
Live on Robinhood Chain

Price the future.
Settle on-chain.

Volar is a fully-collateralized options market for tokenized equities. Premiums are computed by a settlement-grade Monte-Carlo engine and settle against live oracles — no liquidations, no counterparty risk, nothing to monitor.

Open the terminal Read the docs
$141.04
SPCX spot live
44.96%
Metronome vol 7d
0%
collateralized
0
liquidations
Principles

Built to settle, not just to quote.

Most on-chain option pricers are fine for a quote and unsafe for settlement. Volar closes that gap in four places.

01

Fully collateralized

Every option is backed from write to settle by the writer's locked collateral, sized to the worst-case payout. No margin calls, no liquidations, no counterparty risk.

02

Settlement-grade pricing

The Monte-Carlo runs two independent seed batches and reverts unless they converge within tolerance — the error is bounded on-chain, so a premium only prints at settlement grade.

03

Seed-safe & verifiable

The simulation seed is derived from the trade itself, never chosen by the caller. Everything is a view function — you can reproduce and verify every premium yourself.

04

Exotics, not just vanilla

Barrier, Asian and digital payoffs are path-dependent and have no clean closed form. Volar simulates whole paths, so it can price what a formula-only venue can't.

The engine

A premium is a distribution,
not a guess.

Thousands of price paths, simulated on-chain and averaged. The convergence guard reruns them until the answer is stable — so what you settle on is the distribution, bounded.

Interactive

Run the engine yourself.

A browser-side replica of what SIM1 does on-chain: geometric Brownian motion at the live SPCX spot and Metronome vol, two seed batches, and a convergence check on the mean payoff.

S₀ 141.04 σ 44.96% T 30d PATHS 0 SAMPLES 0
idle

The convergence guard

Two batches, two independent seeds. If their mean payoffs disagree by more than the tolerance — 5% here — the call reverts instead of printing a number nobody can stand behind.

Batch A mean
—
Batch B mean
—
Relative gap
—
Verdict
—

Why paths, not formulas

Black-Scholes gives one number for one payoff shape. A path engine prices anything you can write down — knock-outs, averages, digitals — because it simulates the whole history, not just the endpoint.

Live terminal

Quote an option on live oracle data.

Premiums below are computed in your browser from the live SPCX feed and Metronome vol — the same oracles that settle the contracts on-chain.

volar · quote(SPCX) live oracle
$
days
×
Vanilla put: max(K − S, 0). The writer locks K × contracts as collateral; settlement pays the intrinsic value out of that collateral at expiry.
Premium · buyer pays
—USDG
≈ — per contract · settlement-graded by the convergence guard
Collateral · writer
—
Breakeven at expiry
—
Buyer max profit
—
Buyer max loss
—
Buyer P/L at expiry—
Δ delta — ν vega — Θ theta/day —
Who it's for

One market, two sides, zero trust.

Buyers

Hedge or take a directional view on tokenized equities. Pay a premium, hold the long, settle at expiry — no maintenance, nothing to monitor.

Writers

Earn premium by writing covered calls and cash-secured puts. Lock collateral once; the protocol handles settlement. No liquidation risk, ever.

Builders

A stateless, unowned pricing engine and a fully-collateralized vault. Compose structured products on top — the exotic-capable core is already on-chain.

Live on Robinhood Chain

Every address, verifiable.

Nothing here is a promise you have to take on faith — the engine and the feeds are deployed, and every premium is a view call you can reproduce.

Settlement · USDG0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168
SPCX equity feed0xB265810950ba6c5C0Ff821c9963014a56fD8Bffb
Metronome vol index0x786c24254B2338b6fE070Ecb3E88Dbb4F5E7B487
Simulation engine · SIM10x5C16E1E23223f16C377Cd2C424f7c79Ec451aF83
Questions

The short answers.

The long ones live in the full FAQ and the docs.

What happens if the price moves against the writer?
Nothing operational. The collateral was locked at write time and already covers the worst case, so there is no margin call and no liquidation — settlement simply pays the buyer out of that locked collateral at expiry.
Why is a capped call a spread?
An uncapped call has unbounded upside, which cannot be fully collateralized in cash. Capping it at K + width turns it into a call spread: the buyer's profit and the writer's collateral both stop at the cap, so the position stays 100% backed.
Can I verify a premium myself?
Yes. Pricing is a view function on the SIM1 engine and the seed is derived from the trade parameters, not chosen by the caller. Call it against the same block and you get the same number.
What does the convergence guard actually do?
It runs two independent seed batches and compares their mean payoffs. If the relative gap exceeds the tolerance, the call reverts rather than returning a premium whose Monte-Carlo error is unbounded.
What is settled, and in what?
Everything is cash-settled in USDG against the SPCX oracle at expiry. No physical delivery of the underlying, no wrapped equity to unwind.
Ready

Quote it. Verify it. Settle it.

The terminal runs on the same oracles the contracts settle against. Start with a quote — it costs nothing to check the math.

Open the terminal How it works