CfCapletFi
DeepBook Predict plus Walrus receipts

Enforced-budget carry notes, not black-box vaults.

CapletFi turns one DUSDC deposit into a transparent note: a downside DeepBook Predict hedge, a PLP carry leg, a Walrus term sheet, and a Sui receipt that keepers can settle. The mint path rejects notes that overspend the declared hedge budget.

Mint a noteView receipts

Mint guard

Budget cap

Receipt store

Walrus

Settlement

Keeper-ready

Three live receipts prove the loop: one hedge paid, one hedge expired, and one V2 note was settled by a non-holder while payout routed to the recorded holder.

Settled receipt portfolio

One hedge paid, one hedge expired, one V2 non-holder settlement.

Settled on Sui testnet
Settled notes
2
V2 non-holder settlement
1
Replayable Walrus receipts
3 blobs

V2 non-holder settled note

Settled by a non-holder signer after oracle expiry.

The note holder is 0xa75122…b419c1, but the settle transaction was sent by 0x06dbf4…b04ddf. That proves the shared V2 note can be settled permissionlessly while payout still routes to the recorded holder.

V2 settled
Deposit
5.000000 DUSDC
Manager credit
0.475395 DUSDC
PLP payout
4.499851 DUSDC
Total claimable
4.975246 DUSDC
mint 6YqcPgVs…KrVUH1settle FXYriUuF…VZdYTvV2 Walrus term sheet

DeepBook is load bearing

The receipt portfolio exercises the full Predict loop.

Mint hedge

predict::mint

Supply carry

predict::supply

Redeem hedge

predict::redeem_permissionless

Withdraw PLP

predict::withdraw

Hedge paid

Strike 77,000, settled at $76,723.859128471

Binary payout 0.500000 DUSDC
Deposit
5.000000 DUSDC
PLP carry
4.500000 DUSDC
Total claimable
5.019892 DUSDC
Receipt path

The mint transaction bought a downside Predict binary and supplied the remaining DUSDC into PLP. The settlement transaction redeemed the binary into the holder-owned PredictManager and withdrew PLP value to the holder. Unspent hedge budget remains claimable by that manager owner.

V2 term sheet
Walrus
Settlement summary
Walrus

Hedge expired

Strike 76,000, settled at $76,896.256493368

Binary payout 0.000000 DUSDC
Deposit
5.000000 DUSDC
PLP carry
4.500000 DUSDC
Total claimable
4.988416 DUSDC
Receipt path

The mint transaction bought a downside Predict binary and supplied the remaining DUSDC into PLP. The settlement transaction redeemed the binary into the holder-owned PredictManager and withdrew PLP value to the holder. Unspent hedge budget remains claimable by that manager owner.

V2 term sheet
Walrus
Settlement summary
Walrus

Receipt replay

The verifier reads Sui transactions and Walrus blobs, then checks the V2 non-holder settlement, settled hedges, PLP supply, binary cost, manager credit, and total claimable value.

cd keeper && npm run proof

Prints CAPLETFI_V1_1_PORTFOLIO_VALID, CAPLETFI_V2_SETTLED_NOTE_VALID, CAPLETFI_NON_HOLDER_SETTLEMENT_VALID, and CAPLETFI_DEEPBOOK_CALL_PATH_VALID.

Mint desk locked

Connect a Sui wallet to structure your note.

The header wallet button unlocks the live mint path: create a PredictManager, choose an oracle, split the DUSDC deposit, dry-run the DeepBook Predict route, store the term sheet on Walrus, then mint.