STRYK is a Solana-native structured products vault framework. Weekly covered calls, cash-secured puts, and delta-neutral yield — engineered with an on-chain Black-Scholes pricing engine and a Dutch auction settlement layer.
Reservoir water level
$18M
TVL across 5 live vaults
In Q3 2023 Friktion, then Solana's largest options vault protocol, wound down. Its Volts — weekly SOL calls, cash-secured puts, and delta-neutral basis — held over $60M in TVL at peak. The wind-down left a structural gap: Zeta Markets still runs the options venue, but the standard framework for automated theta harvesting on Solana disappeared.
STRYK is that framework. It rebuilds Ribbon Finance's Theta Vault pattern from first principles for Anchor and Pyth — deterministic pricing, deterministic settlement, and no floating-point on-chain.
Prior vaults settled with off-chain price snapshots. STRYK computes premium, delta, gamma, theta, vega, and rho directly on-chain using Q64.64 fixed-point arithmetic. Determinism is a settlement guarantee, not a hope.
Market makers used off-chain RFQs, which fragmented liquidity and hid clearing prices. STRYK ships a Gnosis EasyAuction-derived Dutch auction. Every clearing price is on-chain, every bidder is $STRYK-staked, every default is slashable.
Weekly rollover was manual on legacy vaults. STRYK vaults are triggered by Clockwork threads. When expiry hits, the settlement, next-strike selection, auction start, and premium distribution all execute in a single tick.
STRYK ships five reference reservoirs — covered call, cash-secured put, and a delta-neutral perpetual-hedged pool — plus an SDK for teams to publish their own vault templates against the same executor.
Every reservoir maps to a distinct dam form because every strategy impounds risk differently. LP deposits become premium storage. Each expiry, the discharge spillway distributes yield.
Sell weekly SOL calls on deposited SOL. Premium harvested to LP.
Sell weekly SOL puts secured by USDC collateral. Premium harvested to LP.
Sell weekly BTC calls on deposited WBTC. Premium harvested to LP.
Sell weekly ETH puts secured by USDC collateral. Premium harvested to LP.
LP position hedged by Drift perpetual short. Delta neutral yield.
STRYK is a monorepo of nine on-chain and off-chain packages plus the web app you are reading. Each primitive is auditable in isolation; together they compose the reservoir.
Black-Scholes-Merton call/put + full first-order Greeks. No floating-point on-chain. Range-reduced exp, Newton sqrt, and A&S 26.2.17 CDF are all deterministic.
The scheduler that impounds deposits, opens auctions, records clearing prices, settles at expiry, and self-seals into the next week without operator intervention.
The Solana program that owns the vault PDA, holds LP shares as SPL tokens, and CPI-invokes Zeta / Drift adapters. IDL published on GitHub.
Gnosis EasyAuction pattern adapted for Solana. Prices decay linearly from 1.1x fair value to 0.9x over 15 minutes. Market maker whitelist gated by staked STRYK; default is slashable.
CPI adapters into Zeta Markets for option minting and Drift Perpetual for delta-neutral hedging. Position sizing bounded to 0.98–1.02 delta band.
One StrykClient shared across web, dashboard, mobile (React Native), and the `stryk` npm CLI. Read-only mode works without a wallet.
Reconstructed from Pyth SOL/USD hourly prices between 2026-05-30 and 2026-06-29. The vault ran a 15-delta OTM call each Friday against the deterministic pricing engine. Historic dataset served by /vaults/{pda}/backtest?days=30.
STRYK is live on Solana mainnet. Five reference vaults, an on-chain Black-Scholes engine, and a Dutch auction settlement layer — all running today. The Anchor executor program IDL is published for audit and integration.