Vaults

• Vault: 3Jane vaults are tokenized and yield-bearing vaults. Each vault has its own collateral asset, option type, option strike price, cycle, etc.

• Vault Cycle: Determines the expiry of the vault's option contract.

• Express: if a vault is express, then if the spot price of the underlying breaches the knock-out barrier then it rolls over to selling the next options contract. Express vaults are more efficient as they do not wait until expiry of the options contract and as a result they accrue premiums more frequently.

• Express Knock-Out Barrier: the % relative to spot price at time of option sale at which point the vault rolls over to the next options contract.

• Premium Type: determines the premiums earned if rolled over early. Ex: fixed, vanilla, phoenix memory, memory.

• Express Knock-Out Observation: observation frequency for checking whether the knock-out barrier has been breached. Ex: daily, weekly, etc.

• Premium Observation: observation frequency for partitioning premiums earned if rolled over early.