Covault

Testnet Deployment + Verified Core Deploy the Covault clearinghouse contract, including the built-in order book, to Stacks testnet; support at least one fully collateralized option series using sBTC or native STX collateral; demonstrate the core option lifecycle, including series creation, option writing, order listing, purchase, settlement, exercise, and reclaim; maintain the public repository with deployment details, setup instructions, and test coverage; provide test or simulation evidence showing collateral conservation, including payoff plus leftover collateral equaling total locked collateral; publish a demo video or walkthrough showing the testnet flow.

Settlement Oracle + Full dApp UI Implement a DIA-oracle-based settlement mechanism using BTC/USD and STX/USD feeds to derive the STX/sBTC cross-rate on chain; deploy and document the settler contract used for option settlement; document selected price source, cross-rate methodology, freshness checks, fallback assumptions, risk disclosures, and DEX TWAP replacement path; complete the dApp UI for the full option lifecycle, including creating or selecting a series, writing options, viewing collateral, buying or selling positions, settling, exercising, and reclaiming; complete a structured security and code review covering the contracts and settlement flow, including documented threat model, invariant test suite, adversarial tests, static checks, and findings log; resolve all critical and high-severity findings or document remaining issues with an Endowment-approved mitigation plan; publish updated documentation and a demo video covering the oracle-integrated dApp flow.

Mainnet Launch + First Real Usage Deploy Covault to Stacks mainnet; launch the mainnet dApp; create and support at least two mainnet option series, including at least one sBTC-collateralized series; enable users to write, trade, settle, exercise, or reclaim option positions on mainnet; publish mainnet deployment details, user documentation, risk disclosures, and final security review notes; provide a final grant update with links to product, contracts, documentation, demo, transaction evidence, usage metrics, and known limitations. Usage requirements: at least 2 mainnet option series created; at least 1 sBTC-collateralized option series created; at least 3 completed option trades on mainnet; at least 2 non-team wallets participating in mainnet option activity; at least 1 option series reaches expiry and is settled, exercised, or reclaimed on mainnet; at least 1 market maker, treasury, protocol, or sBTC holder provides written feedback or confirms interest in using Covault.