Options on Nondollar

Nondollar lets you trade options on ETH, BTC, long tail crypto tokens and tokenized US stocks — fully on-chain, settled in USDC, with no KYC.

There are two sides, and you can be either one:

Buy options if you want leveraged exposure to a price move. Pay a small premium today; if the price moves past your strike by expiry, you profit. Your maximum loss is always just the premium you paid — nothing more, no liquidations, ever.

Sell options if you hold assets and want to earn yield on them. Deposit into the dCDS pool and earn a share of every premium that buyers pay, continuously. Your deposit is what backs the buyers' potential payouts.

Why premiums on Nondollar are cheaper

Options here have one deliberate difference from traditional venues: payouts are capped. When a call finishes in-the-money, the buyer's profit is capped at a fixed percentage above the strike (currently 5% of the strike price).

That cap is why the premium is at a slight discount of what the same option costs elsewhere. You're not paying for unlimited upside you'll statistically almost never collect — you're paying only for the high-probability payout zone. For short-dated options, the vast majority of in-the-money expiries land below the cap anyway, so most winning trades pay out exactly the same as they would on an uncapped venue, for a much smaller premium.

→ Read Payout Caps Explained for the exact math and a worked example.

Where to go next

• Buying Options — strikes, expiries, premiums, and what happens at expiry

• Selling Options via dCDS — deposit ETH or stables, earn premiums

• Settlement & Expiry — how and when funds move

• Risks — read this before depositing

Launch app: stocks.nondollar.life