What is Strike
Strike is a launchpad for tokens whose economics are tied to a real stock option position. Instead of launching a token with nothing behind it, a creator picks an underlying equity, a side, a strike price and an expiry. The launch transaction mints a fixed supply, funds a vault that holds the option position, and opens a liquidity pool against USDC.
The result is a token that anyone can trade around the clock, whose value tracks a contract that only trades during market hours.
The option leg is not synthetic. Strike sources every contract through Aevo, our options venue partner — the vault buys the position there when a market launches, marks it there for the life of the token, and settles it there at expiry.
Token anatomy
Every Strike market is defined by five immutable fields, written at launch:
underlying— the equity or ETF the option is written onside—CALLorPUTstrike— the contract's strike price in USDexpiry— the contract's expiration datesupply— the fixed token supply, minted once
The token's ticker is derived from those fields — NVDA + 180 + C + DEC26 becomes $NVDA180C-DEC26 — so a market's terms are legible from its symbol alone, and a symbol resolves to exactly one contract.
Launching
The launch flow walks through six steps: underlying, side, strike, expiry, token configuration and review. Strikes are drawn from the live option chain around spot, and the expiry set covers 7D, 30D, 90D, 180D and 1Y.
Initial liquidity is supplied by the creator in USDC and is paired against the new supply in the same transaction. Liquidity is locked for the life of the contract; it unlocks at settlement.
Pricing & backing
Two numbers matter on a Strike market. Price is what the market pays for the token right now. Backing is the vault's mark on the option position divided by supply — the per-token value of the contract behind it.
When price trades above backing, the market is paying a premium for the exposure. When it trades below, the token is discounted to the position it holds. Both are published on every market page and update every block.
Expiry & settlement
At expiry the vault settles the option in cash. If the contract finishes in the money, USDC proceeds are distributed pro rata to holders and the token is retired. If it finishes worthless, the token settles at zero and the pool's remaining liquidity is returned to the creator.
Settlement is mechanical and permissionless: anyone can call it once the expiry timestamp has passed.
Fees
- Launch — gas only. Strike takes nothing at launch.
- Swap — 1.00% of each trade, split 70/30 between the creator and the protocol.
- Settlement — 0.25% of in-the-money proceeds.
Risk
Options expire. A token backed by a contract that finishes out of the money settles at zero, and the closer an expiry gets, the faster the backing decays. Strike does not smooth this, hedge it, or roll positions — the token holds exactly the contract its terms describe, until the day they end.
Nothing on this site is investment advice.