UniIndex builds synthetic exposure on options, not debt. Split 1 ETH into two legs. No forced liquidations, no real-time oracle — just one slow settlement at maturity.
Every position is fully collateralized by the ETH that created it. The system holds only ETH, and its claims always sum to exactly that ETH.
Deposit 1 ETH into the vault. Receive 1 CORE + 1 HALO. Combine them anytime to get your ETH back.
Hold CORE for index exposure, or trade it on the Uniswap v4 CORE/ETH pool. Speculators hold HALO for leveraged ETH upside.
At maturity, a slow oracle reports the ETH price once. A dispute window protects against bad data. No real-time feed needed.
CORE redeems for min(1, S/x) ETH, HALO for max(0, 1−S/x). Together: exactly 1 ETH.
Drag the strike and the settlement price to see what each leg pays at maturity. CORE behaves like the index (capped at the strike); HALO captures everything above it.
The index-tracking leg. Holds roughly the strike value in USD as long as ETH stays above it — your stable, no-ETH-exposure position.
The residual leg. Captures all ETH upside above the strike — leveraged long ETH, held by speculators and market makers.
Debt-based synthetics need a real-time oracle to force liquidations — the hardest thing in crypto to secure. Options never can be undercollateralized, so the oracle can be slow.
The CORE/ETH pool runs a Uniswap v4 hook written in Vyper. It needs no price feed — it reads only the clock.
Toxic, rebalancing-driven flow intensifies as maturity nears. The fee ramps from 0.30% up to 1.00% over the final 7 days — pricing that risk for liquidity providers, with zero oracle dependence.
The instant the series matures, beforeSwap reverts. Nobody can trade legs that are about to re-price at settlement against stale AMM state — arbitrage at the boundary is closed off by design.