Ask about Thetanuts Finance · freeTotal Value Locked$223,592
TVL by Chain
Ethereum$101,370
Base$80,117
Robinhood Chain$39,004
Hyperliquid L1$3,101
BSC$0.61
Arbitrum$0.10
Avalanche$0
Fantom$0
Polygon$0
Boba$0
Aurora$0
Cronos$0
Polygon zkEVM$0
inEVM$0
Key Metrics
Options Premium Volume 30d$10,692
Options Premium Volume 7d$1,877
Options Premium Volume 24h$110
Cumulative Options Premium Volume$395,399
Options Notional Volume 30d$639,635
Options Notional Volume 7d$117,199
Options Notional Volume 24h$10,284
Cumulative Options Notional Volume$7.52m
Market Cap$3.01m
$NUTS Price$0.00095
Fully Diluted Valuation$9.53m
$NUTS Volume 24h$22,638
CEX Volume$23,216
DEX Volume$749.99(3.31% of total)
Total Raised$35m
Mar 2, 2022$18mRound: SeedInvestors: 3AC, Deribit, QCP Capital, Jump Crypto, DeFi Capital, GoldenTree, Borderless Capital, Tribe Capital, Hyperchain Capital, Mirana Ventures, Crypto.com Capital, Comma Ventures, Raptor Capital, MEXC, Wintermute Ventures, GSR, Algorand Foundation, Avocado Guild, GFC, Ledger Prime, Genesis, Paradigm, WOO Network
Apr 24, 2023$17mRound: InstitutionalInvestors: Polychain Capital, Hyperchain Capital, Magnus Capital
Protocol Information
Thetanuts Finance is a decentralized on-chain options protocol focused on altcoin options, allowing users to go long or short on on-chain options.
Audits:
Methodology
TVL: Funds deposited into Thetanuts Finance via the Basic Vaults, Lending Market, AMM and the WheelVaults (base and quote tokens held by each vault, including its Uniswap V3 positions and Aave deposits) are calculated as TVL. WheelVaults pairing the NUTS token are counted under pool2.View code on GitHubOptions Premium Volume: Sum of value paid buying and selling options on the exchangeView code on GitHubOptions Notional Volume: Sum of the notional value of all options that have been traded on the exchangeView code on GitHubHacks
Date: Apr 20, 2026
Amount: $50,000
Classification: Token & Share Accounting
Technique: First Depositor Attack
On April 20, 2026 Thetanuts Finance's vault contract on Ethereum was exploited for $50,000 via a first-depositor inflation flaw: an attacker minted 1 share, donated 1,000 ETH directly to the contract, then redeemed the share for nearly all vault assets when the next user deposited.
Chains: Ethereum
Language: Solidity
Target Type: DeFi Protocol
Date: Jun 15, 2026
Amount: $105,472
Classification: Token & Share Accounting
Technique: Rounding Error
A deprecated Thetanuts Finance Index Vault was exploited through an integer-division rounding flaw in its mint accounting. Using a flash loan, the attacker reduced the index token supply to a minimal level and repeatedly minted replacement shares while required underlying-token deposits rounded to zero, allowing the attacker to retain assets redeemed from the vault. The attacker extracted 105,471.499078 USDC plus residual option-token positions. About one hour later, a whitehat used the same vulnerability to secure approximately $2M of assets from another vulnerable legacy vault
Chains: Ethereum
Language: Solidity
Target Type: DeFi Protocol
Competitors
Thetanuts Finance history
TVL is the default DefiLlama definition, which excludes Pool2. Daily values are UTC snapshots from Dec 23, 2021 to Nov 1, 2026.
All-time high TVL: $52.25m on May 6, 2022. All-time low TVL: $300 on Aug 3, 2026.
Daily TVL, Oct 3, 2026 to Nov 1, 2026
| Date | TVL |
|---|---|
| Oct 3, 2026 | $215,936 |
| Oct 4, 2026 | $215,476 |
| Oct 5, 2026 | $216,743 |
| Oct 6, 2026 | $217,508 |
| Oct 7, 2026 | $217,711 |
| Oct 8, 2026 | $215,756 |
| Oct 9, 2026 | $214,244 |
| Oct 10, 2026 | $215,591 |
| Oct 11, 2026 | $215,691 |
| Oct 12, 2026 | $215,987 |
| Oct 13, 2026 | $213,111 |
| Oct 14, 2026 | $214,255 |
| Oct 15, 2026 | $210,957 |
| Oct 16, 2026 | $212,480 |
| Oct 17, 2026 | $212,781 |
| Oct 18, 2026 | $212,038 |
| Oct 19, 2026 | $212,160 |
| Oct 20, 2026 | $212,245 |
| Oct 21, 2026 | $213,785 |
| Oct 22, 2026 | $225,535 |
| Oct 23, 2026 | $230,357 |
| Oct 24, 2026 | $229,300 |
| Oct 25, 2026 | $228,998 |
| Oct 26, 2026 | $228,280 |
| Oct 27, 2026 | $228,087 |
| Oct 28, 2026 | $229,330 |
| Oct 29, 2026 | $228,352 |
| Oct 30, 2026 | $223,090 |
| Oct 31, 2026 | $223,733 |
| Nov 1, 2026 | $223,507 |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $19.2m |
| Jan 31, 2025 | $15.13m |
| Feb 28, 2025 | $12.89m |
| Mar 31, 2025 | $10.05m |
| Apr 30, 2025 | $9.65m |
| May 31, 2025 | $10.59m |
| Jun 30, 2025 | $10.6m |
| Jul 31, 2025 | $5.13m |
| Aug 31, 2025 | $5.3m |
| Sep 30, 2025 | $5.17m |
| Oct 31, 2025 | $4.41m |
| Nov 27, 2025 | $3.93m |
| Dec 31, 2025 | $3.84m |
| Jan 31, 2026 | $1.36m |
| Feb 10, 2026 | $933,357 |
| Mar 31, 2026 | $876,400 |
| Apr 30, 2026 | $871,505 |
| May 31, 2026 | $647,037 |
| Jun 30, 2026 | $65,089 |
| Jul 31, 2026 | $396 |
| Aug 31, 2026 | $423 |
| Sep 30, 2026 | $469 |
| Oct 31, 2026 | $223,733 |
| Nov 1, 2026 (latest) | $223,507 |
TVL at each year end, Dec 31, 2021 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2021 | $44.06m |
| Dec 31, 2022 | $6.57m |
| Dec 31, 2023 | $10.4m |
| Dec 31, 2024 | $19.2m |
| Dec 31, 2025 | $3.84m |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/thetanuts-finance
Frequently asked questions
What is Thetanuts Finance's TVL?
As of Nov 1, 2026, Thetanuts Finance has $223,592 in total value locked. TVL has increased 3.5% over the past 30 days.
What chains does Thetanuts Finance operate on?
Thetanuts Finance operates on 14 chains: Ethereum, Base, Robinhood Chain, Hyperliquid L1, and BSC and 9 others. Ethereum holds the largest share at 45.3%.
What is the NUTS token price and valuation?
NUTS is currently trading at $0.00096. Its circulating market capitalization is $3.02m, ranking it #2,473. Its fully diluted valuation is $9.55m. Supply currently stands at 3.157b circulating, 10b total supply, 10b maximum supply.
How has NUTS performed recently?
NUTS is down 0.3% over the past 7 days and down 0.5% over the past 30 days. Its all-time high is $0.041, reached on May 20, 2024. The token is currently 97.7% below that level.
How does Thetanuts Finance's TVL compare to similar protocols?
Among Options protocols tracked by DefiLlama, Thetanuts Finance ranks #19 by TVL. The category holds $205.22m across 74 protocols, and Thetanuts Finance accounts for 0.1% of that total. Similar protocols include Deri V4, SOFA.org, Premia V2, Opium, Antimatter, Stryke SSOV, Opyn Gamma, Siren, Pods Finance, and Deri Protocol.
Has Thetanuts Finance ever been exploited?
Thetanuts Finance has 2 recorded security incidents. The most recent incident occurred on Jun 15, 2026 and involved $105,472. It was classified as Token & Share Accounting.