Covered calls on tokenized stocks
A vault for Coinbase tokenized stocks on Base. First market: TSLAc. Built in public for Base Stocks Maxxing.
Not audited. Live on Base with deposits closed. Coinbase tokenized stocks are not available to US persons, and nothing here is offered to US persons.
How it works
- You deposit TSLAc and get vault shares.
- Each epoch the vault lists one call on its own stock, at least 3% above the Chainlink price. Buyers pay the premium in TSLAc.
- At expiry anyone settles on the first Chainlink round after expiry. If TSLA finished above the strike, buyers get the difference in TSLAc. The premium goes to depositors either way.
- After every settlement there is a 12 hour window to withdraw before the next epoch.
What the contract guarantees
| Solvency | Calls sold never exceed the stock in the vault, and a payout never exceeds the notional. |
| Fair entry and exit | No deposits or withdrawals while an epoch is live. Premium only counts once the epoch settles. |
| No picking the price | Settlement must use the first oracle round after expiry, proven on chain. |
| No buying in the money | Every sale re-checks that the strike is still 3% above a price no more than 4 hours old. |
| Nothing frozen forever | If the oracle dies, a fixed fallback settles the epoch. Nobody gets to choose the price. |
| One asset | The vault only ever holds the stock. Dividends and splits are already in the Chainlink total-return price. |
What we have shown so far
31 tests, including a 512-run fuzz that settles at any price and checks every buyer and depositor can get out. A fork test runs one full epoch on the real Chainlink TSLA feed on Base: opened on Nov 10 at $375.91 with a 5% strike, settled on the first round after expiry at $391.24, out of the money, so depositors kept the 1% premium.
Addresses
| TSLAc (Base) | 0xb2000000000000000000001e800a7f5189430cD0 |
| Chainlink TSLA | 0xFaf869185383a24F8cb00e27BdA6b63B9905DCb4 |
| Vault (Base) | 0xc6180E9af7Cb4c6D47A230a6c5047fA615Bd0956 |