Rysk Finance
Rysk Finance is a DeFi volatility yield protocol operating on HyperEVM that lets users and institutions earn upfront premium on covered calls and cash-secured puts via an RFQ execution engine, with Rysk Premium adding permissioned, KYC-gated institutional vaults.
- Company typePrivate
- Founded2023
- HeadquartersSan Francisco, United States
- Headcount1–10
- GTM typeB2B and B2C
- OfferingSoftware
What Rysk Finance does
Rysk Finance operates a DeFi volatility yield protocol, organized around its current-generation product Rysk V12, that brings covered calls and cash-secured puts fully on-chain with upfront premium collection, physical settlement, and full collateralization. The protocol runs on HyperEVM (Hyperliquid's EVM-compatible chain, chainId 999) and uses a Request-for-Quote (RFQ) execution model: retail users connect a wallet at app.rysk.finance, pick an asset/strike/expiry, and an off-chain WebSocket RFQ engine aggregates signed quotes from integrated market makers over a 2-second window before settling the trade on-chain. Options are European-style with Friday 8:00 AM UTC expiry in the Deribit convention, priced using Stork oracle feeds cross-verified against Pyth (with automatic halts if the two deviate beyond per-asset thresholds), and all collateral sits in Opyn/Rysk Gamma smart contracts with no liquidations or rehypothecation. Ten assets are currently supported, including HYPE, kHYPE, wstHYPE, LHYPE, WHYPE, UBTC, UETH, USOL, UPUMP, fXRP, and PURR, with Pendle PT/YT assets priced via the Pendle API.
The revenue model rests on two on-chain fee streams plus a future token incentive layer: an option-sale fee (basis points, split between the protocol and the curator per a curatorFeeShare parameter) on every option written through Rysk Premium vaults, and a maker-side pricing fee of MIN(0.01 × UnderlyingPrice, 0.125 × OptionPrice) × Quantity on each RFQ-matched trade. The retail app charges no platform fees. Rysk Premium is the institutional channel—permissioned, KYC/whitelisted vaults with segregated collateral, a $250K minimum allocation, quote-based pricing, and bespoke asset/chain support—with Hyperion DeFi (NASDAQ: HYPD) as the publicly-disclosed anchor client writing cash-secured puts against its ~$63.5M+ HYPE treasury. Distribution is multi-modal: self-serve retail via the web app, API-first/WebSocket onboarding for professional market makers (Python/TypeScript/Go SDKs, with 5+ integrated and more onboarding), and contact-form enterprise sales for Premium. Marketing is organic and community-led (Telegram, Twitter, GitHub, GitBook, DefiLlama) with earned crypto press coverage, and user acquisition is reinforced by a weekly Rysk Points rewards program (1,000,000 points/week from Aug 29, 2025) framed as a precursor to a potential future governance token. Rysk Finance is operated by Ksyr Corp, a privately-held BVI entity, and access is geo-restricted (US, UK, Taiwan, and a standard sanctions list are blocked).
Rysk Finance firmographics
Firmographics- Name
- Rysk Finance
- Legal name
- Ksyr Corp
- Website
- https://rysk.finance
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Rysk Finance is a DeFi volatility yield protocol operating on HyperEVM that lets users and institutions earn upfront premium on covered calls and cash-secured puts via an RFQ execution engine, with Rysk Premium adding permissioned, KYC-gated institutional vaults.
- Ownership category
- akta.pro rank
Rysk Finance industry classification
Industry- Product category
- Decentralized Options Protocol
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Computer Systems Design and Related Services (54151)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211), Commodity Contracts Brokers & Dealers (6221)
- akta.pro primary industry
- DEX Aggregation & On-Chain Execution (routing, RFQ, intent-based trading) (FSAPAEAD)
- akta.pro secondary industries
- DeFi Asset Management & On-Chain Index Protocols (FSADAMAK), Perpetual Futures (Perps) Venues & Protocols (FSADAGAA), Active Crypto Asset Managers (Discretionary) (FSADAHAA)
Keywords
Where Rysk Finance is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Rysk Finance business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Option Sale Fee: An option sale fee (in basis points) is charged on every option written through a Premium vault; the fee is split between the protocol and the curator (Manager) according to a curatorFeeShare parameter, with accrued balances excluded from LP NAV and withdrawable by governance and the curator.
- Market Maker Pricing Fee: Market makers interacting with the RFQ are charged MIN(0.01 UnderlyingPrice, 0.125 × OptionPrice) × Quantity per matched trade, collected on-chain at settlement.
- Points / Future Token Incentives: Weekly emissions of 1,000,000 Rysk Points (program started Aug 29, 2025) to overwriters and makers, with the points program serving as a precursor to a potential future governance token distribution. No protocol fee or token-based revenue is currently disclosed.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Public retail app (app.rysk.finance) — no platform fees; users receive the full quoted premium upfront in USDT0. |
| Other | Multi-year contract | Rysk Premium institutional vaults — custom options income mandates, $250K minimum allocation. |
| Transaction based/ take rate | Pay-as-you-go | Market maker fee — MIN(0.01 × UnderlyingPrice, 0.125 × OptionPrice) × Quantity per matched trade. |
| Transaction based/ take rate | Pay-as-you-go | Premium vault option sale fee — basis points on each option premium, split between protocol and curator. |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels7 records
Rysk Finance product offering
Product offeringCore offering
Rysk Finance operates Rysk V12, an on-chain DeFi options protocol on HyperEVM that lets users write covered calls and cash-secured puts via a Request-for-Quote (RFQ) execution model, with full collateralization, physical settlement, and no liquidations. Settlement is on-chain via the Opyn/Gamma options protocol and prices are verified through Stork and Pyth oracles. The protocol serves retail users through a self-serve web app and institutional clients through Rysk Premium, a permissioned vault infrastructure for volatility-income mandates.
Product overview
Rysk Finance is a DeFi volatility yield protocol organized around a single core platform, Rysk V12, that exposes an on-chain options primitive for covered calls and cash-secured puts, paired with several ancillary modules. The two strategy products offered through Rysk V12 — Covered Calls and Cash-Secured Puts — are accessible to retail users via the RFQ-based app at app.rysk.finance and are the primary yield-bearing strategies, with execution handled by an on-chain Request for Quote (RFQ) engine and settlement via the Opyn/Gamma options protocol. Rysk Premium adds institutional and curator-managed vault infrastructure for volatility income built on top of Rysk V12, including the live permissioned volatility income vault used by Hyperion DeFi (NASDAQ: HYPD). Rysk Points is the protocol's weekly on-chain activity and referral rewards program. Rysk Wrap provides a HYPE wrapping utility. The Dashboard, Leaderboard, and MMarket (market maker) interfaces support position monitoring, public rankings, and market maker operations, respectively. A legacy Rysk V1 / Dynamic Hedging Vault (DHV) remains available in withdraw-only mode.
Differentiator
Problem solved
Functional benefit
Brands
- Rysk Premium: Onchain vault infrastructure for volatility income. Provides vault contracts, RFQ liquidity, onchain execution, collateralization, NAV accounting, and settlement for institutional options income products. Built on the Opyn/Gamma options protocol.
- Rysk V12
Products and services
- Rysk V12 Core DeFi volatility yield protocol implementing an on-chain options primitive for covered calls and cash-secured puts. Uses a Request-for-Quote (RFQ) engine for trade execution, with on-chain collateralization, physical settlement, and no liquidations. Supports European-style options priced in USD with strike prices and expiries matching Deribit conventions. Live on HyperEVM mainnet, supporting tradeable markets on kHYPE, wstHYPE, LHYPE, WHYPE, UBTC, UETH, USOL, UPUMP, fXRP, and PURR.
- Rysk Premium On-chain vault infrastructure for volatility income providing vault contracts, RFQ liquidity, on-chain execution, collateralization, NAV accounting, and settlement. Supports both permissioned and permissionless vaults for income, accumulation, ecosystem, structured, and institutional mandates. Powers the live institutional vault used by Hyperion DeFi (NASDAQ: HYPD) for writing cash-secured puts in USDC to earn income on its HYPE treasury.
- Covered Calls Strategy product on Rysk V12 letting users earn upfront premium on an asset they hold by setting a strike price above the current market. The position represents holding the underlying and selling a call option, fully collateralized with no liquidations. Premium is paid upfront in USDT0 at execution, with positions physically settled at expiry (Friday 8:00 AM UTC).
- Cash-Secured Puts Strategy product on Rysk V12 letting users earn upfront premium by setting a strike price below the current market, fully collateralized by stablecoins equal to the strike. The position represents a short put option backed by full cash collateral. Premium is paid upfront in USDT0 at execution.
- Rysk V1 / Dynamic Hedging Vault (DHV) Legacy Rysk protocol (V1) / Dynamic Hedging Vault. Maintained in withdraw-only mode; no longer accepts new deposits.
Quantifiable outcome
- Hyperion DeFi (HYPD) reported 140% QoQ growth in DeFi monetization and 165% growth in yield enhancement strategies in Q1 2026, with Rysk cited as one of four key Hyperliquid-ecosystem partners driving that growth.
- +2 more outcomes
Companies that use Rysk Finance
Customer profileNamed customers2 records
Ideal customer profiles3 records
Rysk Finance technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature7 records
Rysk Finance partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered flagship / anchor institutional client, core / foundational technology partner, core infrastructure partner, core ecosystem partner, core security partner and major onboarding partner.
- Hyperion DeFi (NASDAQ: HYPD)flagship / anchor institutional clientHyperion DeFi runs a live, permissioned volatility income vault on Rysk Premium, writing cash-secured puts in USDC to earn income on treasury cash while setting target prices to accumulate more HYPE. It is the first U.S. publicly-listed company building a treasury around Hyperliquid's HYPE and is the anchor client for Rysk Premium; per Rysk Premium, the firm plans to open its options vault to other institutional HYPE holders.
- Opyn / Rysk Gamma (base options protocol)core / foundational technology partnerRysk V12 is built on the Opyn/Rysk Gamma options protocol for issuance, collateralization, and settlement. All options contracts are fully on-chain Opyn/Gamma contracts, with the Gamma controller handling option creation, the OptionRegistry handling redemption, and MarginPool holding collateral. Recent and upcoming work includes a "Lean Gamma" upgrade that has its own audit (RyskGamma_May2026_v02).
- Stork (oracle provider)core infrastructure partnerStork is the primary oracle used for options pricing and expiry settlement on Rysk. Price feeds used include STORK.HYPEUSD, STORK.ETHUSD, STORK.BTCUSD, STORK.PUMPUSD, STORK.ZECUSD, STORK.SOLUSD, STORK.PURRUSD, and STORK.KHYPEUSD.
- Pyth (oracle provider)core infrastructure partnerPyth is the secondary/verification oracle used by Rysk. The Stork price is cross-checked against Pyth; if they disagree beyond a per-asset threshold, the system halts price-dependent processes. Used directly for wstHYPE (PYTH.1a78b5829a99f1d2897917dae2a02266c0210535a995a2e9d0692613bbc89e27.HYPE).
- Pendlecore infrastructure partnerThe Pendle API is used directly by Rysk to price all Pendle-based assets (e.g. PT/YT/LP positions on HyperEVM).
- Kinetiqcore ecosystem partnerKinetiq's kHYPE liquid-staking token is one of Rysk's flagship tradeable assets on HyperEVM (covered call market with 118.03% max APR / 6.20% min APR at time of capture). Rysk surfaces a 1x Kinetiq multiplier for the kHYPE earn product.
- Trust Securitycore security partnerIndependent auditor that has audited Rysk V12 mk0/mk1/mk2 and Rysk Premium mk0, with V12 mk3 + Lean Gamma and the Lean Gamma Upgrade Procedure audits upcoming. Audit reports are published on docs.rysk.finance/security.
- Hyperliquid / HyperEVM bridges (Unit, Across, DeBridge)major onboarding partnerPer the official "How to use Rysk" guide, Rysk users onboard by bridging to HyperEVM via Unit (hyperunit.xyz), Across, or DeBridge, with Hyperliquid spot markets used to acquire HYPE for gas. Bridges are a critical user-acquisition channel for the protocol.
Scale indicators7 records
Recent moves6 records
Expansion highlights7 records
Rysk Finance competitors and assessment
Company assessmentDirect peers
- Derive (formerly Lyra): Derive is an on-chain options protocol offering perpetuals and options with RFQ-style matching and an orderbook on EVM chains. It is a direct competitor to Rysk V12 in the DeFi options primitive category, with overlapping target users (retail options writers and market makers).
- Dopex: Dopex is a decentralized options protocol offering covered calls, put-selling vaults, and structured products via option AMMs. It competes with Rysk in the on-chain covered-call and put-writing category, particularly for yield-seeking DeFi users.
- Premia: Premia is a DeFi options protocol with an order-book-style options AMM supporting calls and puts across multiple EVM chains. It is comparable to Rysk V12 as an on-chain options primitive for retail writers and liquidity providers.
- Ribbon Finance: Ribbon Finance builds structured products and automated covered-call/put-selling vaults on EVM chains. Its yield-vault architecture is comparable to Rysk Premium's vault product, and its retail user base overlaps with Rysk's self-serve audience.
- Hegic: Hegic pioneered on-chain covered calls and cash-secured puts with a fully on-chain liquidity pool model. It is one of the closest functional analogues to Rysk V12 in offering non-custodial, fully collateralized options writing to retail DeFi users.
- Aevo: Aevo is an on-chain options and perpetuals exchange built on a custom EVM rollup with an off-chain order book and on-chain settlement. Its architecture (off-chain matching + on-chain settlement) is structurally similar to Rysk V12's RFQ-plus-on-chain model.
- Charm Finance: Charm Finance builds automated options strategies (covered calls via Alpha Vaults, put-selling) on Uniswap v3. It is a comparable DeFi-native options-vault product competing for the same retail covered-call yield audience as Rysk V12.
Broad incumbents
- Opyn: Opyn is the foundational on-chain options protocol on which Rysk V12's contracts (Opyn/Gamma) are built. As a broad incumbent, Opyn has shipped across multiple DeFi cycles and remains an adjacent infrastructure provider and historical comparator.
Regional players
- Friktion: Friktion offers covered-call and structured-product vaults on Solana. It is a comparable DeFi-native options-vault product targeting the same yield-seeking user base as Rysk V12, but on a different chain ecosystem.
Others
- Hyperliquid: Hyperliquid is the L1/perp DEX ecosystem on which Rysk V12 is deployed (HyperEVM). While not a direct options competitor, Hyperliquid's health, ecosystem token performance (HYPE, kHYPE, wstHYPE, LHYPE), and bridge infrastructure (Unit, Across, DeBridge) directly drive Rysk's collateral base and on-chain activity.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Rysk Finance social profiles
Digital presenceRysk Finance compliance and trust
Trust signalCompliance1 record
Rysk Finance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Rysk Finance leadership team
Management profileNumber of profiles
Profiles1 record
Rysk Finance funding detail
Funding detailFunding overview
Funding rounds2 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Rysk Finance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Rysk Finance
What does Rysk Finance do?
Rysk Finance operates Rysk V12, an on-chain DeFi options protocol on HyperEVM that lets users write covered calls and cash-secured puts via a Request-for-Quote (RFQ) execution model, with full collateralization, physical settlement, and no liquidations. Settlement is on-chain via the Opyn/Gamma options protocol and prices are verified through Stork and Pyth oracles. The protocol serves retail users through a self-serve web app and institutional clients through Rysk Premium, a permissioned vault infrastructure for volatility-income mandates.
Is Rysk Finance a public or private company?
Rysk Finance is a private company. It is classified as venture growth investor backed and is currently operating.
When was Rysk Finance founded?
Rysk Finance was founded in 2023. It employs 1 to 10 people.
Where is Rysk Finance based?
Rysk Finance is headquartered in San Francisco, United States, in the North America region.
How does Rysk Finance make money?
Three revenue lines are on record. Option Sale Fee is the primary driver. The others are market Maker Pricing Fee and points / Future Token Incentives.
Who are Rysk Finance's main competitors?
Direct peers on record are Derive (formerly Lyra), Dopex, Premia, Ribbon Finance, Hegic, Aevo and Charm Finance. Opyn is listed as a broad incumbent. Friktion is listed as a regional player. Hyperliquid is listed as an others.
Does Rysk Finance have an API?
Yes. Rysk exposes a public JSON-RPC based RFQ (Request for Quote) API for market makers to integrate and quote on options trades. Market makers connect via WebSocket, subscribe to RFQs for specific assets, and submit signed quotes; a 2-second aggregation period selects the best quote and forwards it to the user. Settlement is on-chain using the Opyn/Rysk Gamma smart contracts. Onboarding for early-stage buyers requires whitelisting, a call, two days of bot operation on testnet, and multiple testnet trade executions. Fees: MIN(0.01 × UnderlyingPrice, 0.125 × OptionPrice) × Quantity. Market makers must pre-deposit USDT0 in the MMarket accounting contract. Developer documentation is at docs.rysk.finance/getting-started/protocol-and-product/makers-how-to-integrate-in-the-rfq.
What industry is Rysk Finance in?
Rysk Finance's product category is Decentralized Options Protocol. Its primary akta.pro industry code is FSAPAEAD, DEX Aggregation & On-Chain Execution (routing, RFQ, intent-based trading), with a secondary code of FSADAMAK, DeFi Asset Management & On-Chain Index Protocols. Its NAICS code is 522320 and its SIC code is 6200.