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DAO Treasury Collar
A governance-token treasury with calls written above spot funding the puts that hold its floor.
Modeled APY9.5%net of venue costs and the 20% compute fee
TVL$0$280K seeded
Share value0.00001.0000 at inception
Depositors8since inception
Capacity$1M$720K left
Capacity usedlimited by options venue open interest
28%
$280K deposited$1M total capacity
Overview
DAO Treasury Collar runs a collar on DAO/USDC via Options venue on Base. Covered calls written above spot fund a protective put below; the net premium is the income and the puts hold the floor. Earned yield is swept back into the position on a 24h cadence.
All figures on this page are modeled from the vault's published parameters.
Vault configuration
CuratorPriime Labs
CreatedApr 22, 2026
VenueOptions venue
ChainBase
Strategy classTreasury collar
ModulesLiquidity sourceCovered callProtective putAuto-compound
VerificationOperator quorum (WAVS), every action co-signed · modeled
Automations
Options venue · Collar
In shadowCovered call and protective put
Calls written above spot fund the put that holds the floor.
+4.5%spot against the position · floor −12% · cap +10%live
Put floor−12%
Participates−12% to +10%
Call strike+10%
The collar · one action per roll
Spot at or below−12%→The put pays, the floor holds
Spot between−12% and +10%→Hold, the premium is the income
Spot at or above+10%→Calls assigned, upside above the strike is sold
Roll cadence · 30dLast roll · 5d agoNext roll · in 25d
Options venue · Compounding
In shadowAuto-compound
Sweeps earned yield back into the position once it clears the threshold.
Accrued since last compound$0.00
$0$72.58 accrues per 24h check · clears $155.00 in 3 checks
At the 24h check, accrued at least$155.00→Harvest and re-supply
Cadence · 24hLast compound · 31h agoNext check · in 3h
DAO/USDC · What defeats the reaction
What would have to break
Every row is a mechanism and the clock it runs against. Nothing here is a probability.
What can be closed
No borrow. No liquidation line on the deposit.
- Automations compile in shadownot armed→nothing acts yet
Acts and still loses
- DAO/USDC ending above the written strikeUpside above the strike belongs to the buyer.+10%
- The DAO/USDC floor is an option positionIt holds to the option venue and to nothing else.−12%
Takes the yield, not the capital
- Each roll of the DAO/USDC collar pays the spreadExpected total return is minus the roll cost.12.2 actions/yr
- Priced at one flat volatilityThe model carries no term structure to check it against.structural
1 thing this vault does not measure
- Oracle, bridge, stablecoin and RPC healthNot watched by this vault. Their state never crosses into DAO/USDC.not measured
Envelope, bands and thresholds are the vault's published parameters.
Performance
Share value, modeled
1.0351Deterministic model from inception at the vault's modeled APY. 1.0000 at inception.
Returns
Since inception 128d+3.51%
7d return modeled+0.25%
30d return modeled+1.14%
Parameters
MarketDAO/USDC
VenueOptions venue · Base
Call strike+10%
Put floor−12%
Roll cadence30d
PricingPriced from the product’s own model, not from a scan
Harvest threshold$155
Compound cadence24h
Capacity$1M
Capacity bindinglimited by options venue open interest
Upside capcalls written +10% above spot
Protected floor−12%
Main riskThe floor at −12% holds only to the option venue's performance, and upside above +10% is sold.
Remaining capacity$720K
Min deposit$50
Compute fee20% of yield, at harvest
Settlement fee2% of each deposit
Management feenone on idle capital
Withdrawal feenone on principal
Composed modules
Liquidity sourceHolds the position on the venue and market this vault runs on.
Covered callWrites calls above spot and rolls them on cadence. The premium is the income.
Protective putHolds puts below spot, funded by the written calls, so the position has a floor.
Auto-compoundSweeps earned yield back into the position once it clears the harvest threshold.
Activity
| Action | Detail | Time |
|---|---|---|
| Compound executedmodeled | $222.89 re-supplied | 1d ago |
| Call rolledmodeled | written +10% above spot | 2d ago |
| Compound executedmodeled | $230.16 re-supplied | 4d ago |
| Call rolledmodeled | fresh strike +10%, 30d tenor | 5d ago |
| Compound executedmodeled | $227.44 re-supplied | 7d ago |
| Compound executedmodeled | $233.35 re-supplied | 10d ago |
| Compound executedmodeled | $207.60 re-supplied | 13d ago |
| Compound executedmodeled | $224.79 re-supplied | 16d ago |
Earlier activity truncated