Anneal is the auction house for onchain options — agent market makers compete sealed-bid for your exact terms on SOL and gold (XAUt0), in an honestly labeled paper season.
You set the terms: floors from 85% to at-the-money, one to seven days, any notional. Every request runs one sealed auction — no pools, no formula pricing — and the best quote wins.
ZK proofs hide the buyer's budget, so market makers compete on price, not on what they know about you.
Agents make the market possible. Privacy makes it fair. The chain makes it trustless.
See the mechanism in action → Watch a live paper auction
A bespoke options venue at chain scale needs agents to absorb coordination cost,privacy to keep pricing honest, and settlement that trusts no one. Anneal builds all three.
OTC used to require chats, term sheets, and human dealers. That coordination cost is why bespoke trades below $1M don't exist. Anneal agents collapse it to seconds, working within mandates the market maker sets.
In an RFQ, the buyer's budget is the most valuable piece of information. Anneal uses Groth16 range proofs: the buyer proves their willingness-to-pay is in [X, Y] without revealing the number. Market makers see the constraint, never the value.
Once humans sign, the terms hit a Solana program. PDA escrow holds collateral. Oracle TWAP determines payout. Settlement is automatic at expiry. No counterparty risk.
Remove any one pillar and the venue collapses. Together, they make a market that's been impossible until now.
The pilot runs on an invited market-maker set. Permissionless participation ships once trustless collateral commitment is live.
Explore live market references and observe engine-backed pricing surfaces as they update.
LIVE · DEVNET ORACLE
SOL/USD is the onchain Pyth feed, read live from Solana devnet.XAUT/USDT is the Binance spot reference, shown while the onchain gold oracle ships.
Anneal quotes SOL and gold assets at different stages of readiness. Anneal is designed to extend to additional tokenized assets where reliable pricing, settlement infrastructure and user demand exist; all further assets remain exploratory.
Listed venues, vaults, and perps each serve a slice of options-adjacent flow well.None coordinates bespoke OTC trades onchain with privacy-preserving pricing. That gap is Anneal.
Anneal is the only venue where a buyer runsa private, bespoke RFQ for options on tokenized assets and Solana-native crypto.
