Logo of CleaveCleave
Total Value Locked$93.25

TVL by Chain

Ethereum$93.25

Protocol Information

Cleave is an options protocol that splits one asset into a capped covered-call side for yield and an upside call side for leverage, with no margin calls or liquidations.

Category:Options

Methodology

TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHub

Competitors

Hegic ($10.05m)Opyn Gamma ($1.03m)Ribbon Earn ($1.01m)SOFA.org ($966,777.26)Panoptic V2 ($912,310.06)GammaSwap Open Interest ($651,651.66)Opyn Convexity ($549,514.04)Pods Finance ($389,443.78)Cega V1 ($308,204.89)Siren ($296,560.02)

Frequently Asked Questions

What is Cleave?

Cleave is an options protocol that splits one asset into a capped covered-call side for yield and an upside call side for leverage, with no margin calls or liquidations.

What is Cleave's TVL?

Cleave currently has $93.25 in total value locked. TVL has increased 21.1% over the past 30 days.

What chains does Cleave operate on?

Cleave operates on Ethereum. Ethereum holds the largest share at 100%.

How does Cleave's TVL compare to similar protocols?

Among Options protocols tracked by DefiLlama, Cleave ranks #51 by TVL. The category holds $28.1m across 68 protocols, and Cleave accounts for <0.1% of that total. Other leading protocols include Hegic, Opyn Gamma, Ribbon Earn, SOFA.org, Panoptic V2, GammaSwap Open Interest, Opyn Convexity, Pods Finance, Cega V1, and Siren.