Too Long; Didn't Read
DeFi options vaults (DOVs) are a type of DeFi structured product based on options trading. They have become a sensation from the second quarter of 2021, attracting the attention of retail Defi investors and various institutional institutions. The largest DOVs include ThetaNuts, Ribbon Finance, StakeDAO, Katana, Friktion and PsyFinance. DOVs currently execute covered option strategies for their users, typically 10-15 delta strikes on 1-week expiries. There is no active trading or special algorithmic system.