Deposit and Claim
Phase 1 Deposit
Deposits are open for the first seven days of the month.
Check the open vault
Check which vault is accepting deposits, which assets it takes, and its maturity date. See Vault Schedule.
Verify the contract address
Verify the contract address against the official source before approving anything. See Contract Addresses.
Once the window closes the vault is sealed and the collar is placed. There is no withdrawal, no cancellation and no cooling-off period. Deposit only what you can leave untouched for twelve months.
Phase 2 The collar is placed
After the window closes:
Pooled collateral is placed with FalconX under a collar, through vault infrastructure operated by Accountable.
Your put and call strike levels are set against market conditions on that date, and published to you.
FalconX provides the capital released against the collared position, which returns to the vault.
You take no action during this phase, but this is the phase that determines your economics for the next twelve months. Read your published strike levels before claiming.
Phase 3 Claim your USDC
Once capital has arrived, claiming opens. You claim directly from the vault.
How much you can claim
50% of the value of the BTC you deposited, in USDC, at 0% interest.
The amount is fixed by your deposit and does not move afterwards. See Borrowing Terms.
Claiming is optional
You are not required to claim. If you deposit and never claim, you hold a collared BTC position with nothing to repay at maturity you keep the downside protection and still give up upside above the call strike.
Most users claim in full. Claim less if you want a smaller obligation at maturity.
After you claim
The USDC is yours to use for the term. Nothing to service, no rate that moves, no payment schedule. The next event is repayment at maturity, twelve months from your vault's start date.
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