[Docs]

Everything Weeklies does, in one page

What you buy, what the vault carries, how Friday settles and what can go wrong. Every number here comes from the protocol's parameters, not from marketing.

WKLY token docs

How it works

Weeklies are weekly options on Robinhood Chain stock tokens. Each option is a call or a put on one of ten tokens — NVDA, TSLA, AAPL, AMZN, GOOGL, MSFT, META, AMD, SPY and SPCX — that expires on Friday at 4:00 PM New York time, is paid for in USDG and settles in USDG at the Chainlink price. No shares change hands and there is no order book: one liquidity vault writes every option, and the protocol computes the price from volatility.

For a trader, a ticket is a fixed price and a known maximum: pay $4.95 now, receive up to $216 if NVDA settles above $240 on Friday. For a liquidity provider, the vault earns the premiums and carries a loss that is capped and locked the moment each option is sold.

F1 · One ticket, four choicesexample
stockNVDA · $226
directionUp
targetabove $240
you pay$4.95
Ticket[Live]
NVDA above $240.00
Max win
$216.00
Max loss
$4.95
  • 3 units · $1.65 each
  • cap 30% of $240 = $72
  • × 3 units = $216
  • that is 43x

If NVDA closes above $240 on Friday, you win. If not, you lose the $4.95.

You pick a stock, say which way it goes and how far, and pay a small fixed amount. If you are right on Friday, you get up to 43 times what you paid. If you are wrong, you lose only what you paid — never more.

One week at a time. Only one expiry is live: the coming Friday. The next week’s series are listed on Saturday, after the previous week settles. That gives the vault a “clean point” every Friday, when nothing is locked and the net asset value is exact — withdrawals are paid there.

F5 · A week of a seriesrules
  1. Satnew strikes listed
  2. Sun 8:00 PM ETbuying opens
  3. you can buy · 24/5
  4. Fri 12:00 PM ETbuying stops, 4 h before the bell
  5. Fri 4:00 PM ETthe Chainlink price decides
  6. afterclaim your win; vault pays withdrawals
  7. → next week listed on Saturday

Thursday if Friday is a holiday; 1:00 PM on early-close days.

Every week is the same: new targets on Saturday, buying all week until Friday noon, the price is checked at four, winners get paid, and it starts again.

What a ticket is. Every position is an ERC-721 token in your wallet. It carries the ticker, side, strike, size and the premium you paid, it can be transferred to another wallet, and it has a shareable card. A losing ticket stays in the wallet after expiry.

Who does what. The vault sells; the protocol prices; Chainlink settles; a keeper publishes volatility, opens the trading session and lists strikes within limits enforced on-chain; anyone can trigger settlement and claims. No role has a function that withdraws USDG from the vault.

Traders

Buying

  1. 1Pick a ticker. You see the Chainlink spot and a ladder of nine strikes: ±10% around the spot at listing time, in 2.5% steps, rounded to a clean tick.
  2. 2Pick a direction — Up (a call, pays if the price settles above the strike) or Down (a put, pays if it settles below) — and a strike.
  3. 3Enter the amount in USDG; you can buy fractions of a unit. The minimum ticket is 1 USDG. The screen shows the premium, the maximum payout, the multiple (“up to 43x”), the break-even price and the payoff chart.
  4. 4Approve USDG and buy. The ticket arrives in your wallet.

Buying is open during the 24/5 US session for stock tokens — roughly Sunday 8:00 PM to Friday 8:00 PM ET, closed on NYSE holidays — and stops 4 hours before expiry: at noon on Friday, or 9:00 AM ET on early-close days. Outside the session the vault does not sell, because the price feed holds Friday’s close while the market moves.

F2 · Where your $4.95 goesexample
you pay$4.95
protocol fee 10%
protocol fee$0.50
to the vault
The vault
$4.45 to the vault
locked for your ticket
$216.00
the most the vault can lose on this ticket

The fee is inside the price you see; nothing is added at checkout.

Your $4.95 goes into a big shared jar called the vault, minus a small fee. The jar immediately sets aside $216 with your name on it. That is the most it can ever have to pay you, and it cannot promise that money to anyone else.

What you get

Payout per unit at expiry, where S is the settlement price, K the strike and cap = 30% of K:

Call

min(max(S − K, 0), cap)

Pays when the stock settles above the strike.

Put

min(max(K − S, 0), cap)

Pays when the stock settles below the strike.

The cap is fixed at listing and shown on the ticket as “Max win”. Mathematically the option is a vertical spread K / K + cap (K / K − cap for a put). Because the premium can never be below 1% of the cap, the multiple is at most 100x by construction. The premium is also capped at 80% of the cap: a series that is deep in the money is not sold at all, because the payout would be close to certain.

Example. NVDA at $226, call with strike $240, five days to expiry, volatility 50%. Premium ≈ $1.65 per unit; three units cost $4.95. Maximum payout = 30% × $240 × 3 = $216, a 43x multiple. If NVDA settles at $250, you receive (250 − 240) × 3 = $30; at $300, $180; at $312 or higher, the cap of $216.

F3 · Friday decidesexample
  • $230 → $0you lose $4.95
  • $250 → $30
  • $320 → $216the cap
  • break-even $241.65NVDA at 4:00 PM ET Friday
On Friday afternoon the price is checked once. Below $240 you get nothing. Above $240 you get more the higher it goes — up to $216, and then it stops growing.
F4 · Why «up to 43x»example
targetmultiple
  • above $227.50$4.39 per unit · max win $68.2515x
  • above $232.50$1.72 per unit · max win $69.7540x
  • above $237.50$0.71 per unit · max win $71.25100x
  • above $240.00$1.65 per unit · max win $72.0043x
43x
1x2x5x10x20x50x100x

premium floor: 1% of the cap → never more than 100x

A target close to today's price is easy to hit, so the ticket costs more and wins less. A far target is hard to hit, so the ticket is cheap and can win up to 100 times its price. Nothing pays more than 100 times.

After expiry

Settlement happens after 4:00 PM ET Friday (see Settlement). A winning ticket shows the payout; press Claim to receive the USDG. Claims are permissionless and always pay the ticket’s owner; the keeper does not claim for you. A losing ticket expires worthless and stays in your wallet.

Things to know before you buy

  • Options are European: they pay only at expiry. You cannot sell a ticket back to the vault and there is no secondary market yet. You can transfer the ticket to another wallet.
  • The payout is capped at 30% of the strike. That is the price of a vault that can sell without market makers.
  • The premium already includes the protocol fee: 10% of every premium goes to the protocol treasury, the rest to the vault. The treasury is an address set by the owner; what it is meant to do with the fee is described on the WKLY page.
  • Strikes are not adjusted for corporate actions. The Chainlink feed prices the token itself, and the token absorbs splits and dividends through its multiplier, so its price is continuous.
  • The price you see is the price the contract charges: the quote comes from the same contract code that executes the purchase.

Vault

The vault is the single seller of every option. Liquidity providers deposit USDG and receive ERC-20 shares.

Launch status. The protocol is live on Robinhood Chain with the vault closed: deposits are paused on-chain and the vault holds no capital, so nothing is for sale yet. Prices on the market are indicative: the site computes them from the live Chainlink price and volatility at zero utilisation, with the same formula the contracts use. Deposits and buying open after the WKLY launch.

Limits at launch (before audit)

LimitValue
Vault cap25,000 USDG
Per address5,000 USDG
Utilisation (locked ÷ capital)≤ 80%
Per ticker≤ 20% of capital (SPCX 10%)
Per series≤ 10%
Per trade≤ 5%
F7 · How much can the vault lose?limits at launch
vault cap25,000 USDG
per address ≤ 5,000
at most 80% locked
  • one ticker ≤ 20%
  • one series ≤ 10%
  • one trade ≤ 5%

The most the vault can lose in a week is the sum of what it locked — never more than 80% of its capital.

The jar never promises more than 80% of what is inside it, and never too much on one stock, one target or one ticket. So even a very bad week cannot empty it.

How it works

F6 · The vault looprules
  1. 1 · depositLPs deposit USDG
  2. 2 · sellvault sells tickets
  3. 3 · premiums in90% of every ticket
  4. 4 · lockedpayouts set aside
  5. 5 · fridaywinners paid out
  6. 6 · share priceup or down on Friday
  7. ↳ withdrawalspaid at the clean point

Return = premiums − payouts

People put money into the jar. The jar sells tickets and keeps the money from them. On Friday it pays the winners. If more came in than went out, everyone's share of the jar grew a little; if not, it shrank a little.

How it earns. Every sale brings a premium. Premiums are credited to the vault’s net asset value linearly until expiry, so the share price moves smoothly and a deposit made right after a sale cannot capture that premium in one step.

How it risks. Under every open position the vault locks that position’s maximum payout — the cap times the size. That locked amount is the most the vault can lose on the position, and it is locked before the sale is confirmed. In a bad week (an earnings gap through the cap) the vault loses at most the sum of the caps on the losing series.

Utilisation and price. Premiums rise with utilisation: the fair price is marked up 25% and then by another 50% × utilisation after the trade. A busy vault sells dearer, an idle vault cheaper.

Withdrawals. Request a withdrawal at any time; it is queued. Requests are processed at the clean point after Friday settlement, when nothing is locked and the share price is exact; then you collect the USDG with one more transaction. You can cancel a request until it is processed. Deposits can be paused by the guardian; withdrawals cannot.

Return = premiums − payouts, on the capital deposited. The share price at each clean point is recorded on-chain and listed on the vault page.

Settlement rules

Settlement price

The last Chainlink round with updatedAt ≤ expiry. That is exactly what any contract reading the feed at expiry would see.

Equity feeds on Robinhood Chain publish a round when the price moves 0.5% (heartbeat 24 hours), so “the first round after expiry” could arrive hours later, in the post-market — it is not used.

Expiry is 4:00 PM ET on the last trading day of the week: Friday, or Thursday when Friday is an exchange holiday, and 1:00 PM ET on early-close days. Settlement is permissionless; the keeper calls it within the hour after expiry, and the round it used is recorded in the series.

What happens at expiry

  • Normal
    The last round before expiry is at most 24 hours old and the price is positiveSettle at that round.
  • Deferred first after
    The last round before expiry is older than 24 hours, or the price is zeroSettle at the first valid round after expiry, once the feed is back.
  • Oracle paused
    The token's oracle is paused (corporate action)Settlement waits until the pause is lifted; then the two rules above apply.
  • Fallback
    No valid round for 72 hoursThe guardian settles at the last valid round before expiry, no older than 7 days.
  • Emergency
    No valid round for 30 daysThe owner sets the price manually — only so that funds never stay locked forever.
F8 · If the price feed goes quietcontract rule
Is the token's oracle paused?
yes
wait until the pause is lifted, then continue below
no
Is the last round at or before 4:00 PM at most 24 h old, with a positive price?
yes
[normal]settle at that round
no
[deferred]the first valid round after expiry
no valid round for 72 h
[fallback]guardian: last valid round before expiry, ≤ 7 days old
no valid round for 30 days
[emergency]the owner sets the price so funds are never locked forever

The mode is written into the series and shown on your ticket.

Usually the Friday price is just there. If it is missing, the rules say exactly who waits, who may step in and when — and none of it can be changed after the fact.

The mode is stored in the series and shown on the ticket. Series with no sales settle without reading the feed and never delay the clean point. Once a series is settled, its locked amount is released and claims open; once every series of the week is settled, the withdrawal queue is processed.

No sequencer feed. A Chainlink L2 sequencer uptime feed does not exist for Robinhood Chain and, per Chainlink, will not be added; the contracts carry the check with the address unset.

Risks

Before you trade or deposit

Weeklies is an unaudited MVP with hard limits. Read this before you trade or deposit.

  • You can lose the whole premium. An option that settles out of the money pays nothing.
  • Liquidity providers can lose part of the deposit. The loss per position is capped and locked, but a week of adverse moves across several tickers can exceed the premiums earned.
  • The price comes from a model. The keeper publishes volatility as max(realised, implied) × 1.10 — realised from the Chainlink history (EWMA over 20 days and a 60-day simple estimate, whichever is higher), implied from exchange-listed options on the same stock for the same Friday or the nearest listed expiry. SPCX has no listed options and uses realised × 1.5 with a high floor. On-chain limits bound what the keeper can publish: a floor per ticker (NVDA 0.35, TSLA 0.45, AAPL 0.20, AMZN 0.25, GOOGL 0.25, MSFT 0.20, META 0.30, AMD 0.40, SPY 0.10, SPCX 0.80), a ceiling of 5.0, at most −20% per update within 24 hours of the previous one, at least 10 minutes between updates, and each update expires (at most 8 hours; 6 hours at launch). If it expires, selling stops until the next update; settlement and claims keep working.
  • The feed lags the market. Rounds arrive on a 0.5% move. The spot used for pricing is shifted 0.5% against the vault, the fair price is marked up 25%, selling stops 4 hours before expiry and outside the session — but a fast market can still favour one side.
  • The feed can pause or go silent. The rules in Settlement are fixed in the contract: deferred settlement, guardian fallback after 72 hours, owner emergency after 30 days.
  • Keys. The keeper key can only act within the limits above; the guardian can pause buying, listing and deposits and halt a ticker; the owner sets parameters and can change the market contract only at a clean point. None of them has a function that withdraws vault funds. Ownership is a single key at launch; a multisig and a timelock are planned with the audit.
  • Contracts are not upgradeable. A new version is a new market; the old one settles and pays out to the end.
  • USDG. Settlement depends on the USDG token contract; a blacklist of the vault or the treasury would block transfers.

Jurisdiction. Non-US only, like the stock tokens themselves. Weeklies is not investment advice and not a regulated product. Traders accept the risk of losing the premium; liquidity providers accept the risk of losing part of the deposit.

FAQ

Why can’t I sell my option back?
There is no secondary market in the MVP and the vault does not buy back. You can transfer the ticket to another wallet. Buy-backs and a market for tickets are on the roadmap.
Why is the payout capped?
So the vault can sell without market makers and so that liquidity providers know the maximum loss in advance. A 30% move in a week is rare; for the lottery case the multiple goes up to 100x.
What if Chainlink pauses the feed at expiry?
Settlement waits until the pause is lifted; then the normal rule applies: the last round at or before expiry if it is at most 24 hours old, otherwise the first valid round after expiry. The rule is in the contract, not in a policy.
Why no trading on weekends?
The feed holds Friday’s price, the market does not. Selling at a stale price is a gift to the buyer at the vault’s expense.
Who pays gas?
Traders and liquidity providers pay for their own transactions (ETH on Robinhood Chain, fractions of a cent). The keeper pays for settlement and listing.
Where is the money while the option is live?
The premium is in the vault; the maximum payout is locked in the vault under that specific series. The protocol owner cannot withdraw either.
When do I get paid?
After settlement, press Claim; the USDG goes to the ticket’s owner. Anyone can trigger the claim, and it always pays the owner.
Is the price I see the price I pay?
Yes: the quote is computed by the same contract code that executes the purchase. The transaction carries a maximum premium, so a price move between quote and confirmation cannot charge you more than you agreed.
What is a unit?
One unit of a series pays min(max(S − K, 0), cap) USDG at expiry. You can buy fractions of a unit; the minimum ticket is 1 USDG of premium.

Contracts

  • NetworkRobinhood Chain, chain ID 4663 (Arbitrum Orbit, gas in ETH). Explorer: robinhoodchain.blockscout.com.
  • Settlement assetUSDG (Global Dollar), 0x5fc5…d168, 6 decimals.
  • Price feedsChainlink tokenized-equity feeds for Robinhood Chain (8 decimals, 0.5% deviation, 24 h heartbeat). Catalogue · documentation.
  • MathBlack–Scholes from Lyra’s BlackScholes.sol (ISC licence), with r = q = 0 — settlement is in a stablecoin over a week, and dividends are already in the feed.
  • RoundingAlways in the vault’s favour — premium and lock up, payout and fee down.
Weeklies contracts
  • OptionMarketseries, tickets, settlement0x9fCe…537f
  • OptionsVaultUSDG vault and shares0xfebF…3a3D
  • PricingEngineBlack–Scholes and the premium rulespending
  • SpotOracleChainlink reads and the settlement-round proof0x725c…c99d
  • VolOraclekeeper volatility and session flag0x0256…02b3

No proxies and no upgrades: a new version is a new market, and the old one settles and pays out to the end.