VeraFi

VeraFi — First Decentralized Options Protocol on XRPL

XRPL has hundreds of active projects. Zero of them are options. If you hold XRP and want to hedge downside or earn through volatility, your only paths are: bridge to Ethereum, use a CEX, or hold the spot risk. VeraFi removes all three compromises.

Two parties agree on an option directly. The writer locks collateral in a ZK Smart Escrow on XRPL. The buyer pays the premium with a standard Payment. When the option is in the money, the buyer generates a Groth16 zero-knowledge proof of a Black-Scholes simulation inside a RISC Zero zkVM and submits it as memos on an EscrowFinish transaction. An on-chain Wasm verifier checks the proof and cross-references the agreed terms stored in the escrow Data field. Valid and in the money — funds release. Expired worthless — anyone calls EscrowCancel and collateral returns to the writer.

Four XRPL L1 transactions. No vault. No protocol wallet. No intermediary. The ZK proof is the only gate between collateral and settlement.

The demo ships a 3D payoff surface built with React Three Fiber — rotate the position, hover for live P&L plus delta, gamma, theta, vega at any strike/time combination, and scrub through theta decay in real time. Every contract generates a unique deterministic SVG derived from its parameters. The landing page reads live escrows from the groth5 devnet in real time.

Bounties targeted: Main prize (first options protocol on XRPL) · Boundless (Groth16 ZK proof verified on-chain via Boundless Market) · Impact Finance (trustless derivatives access for anyone who can't open a Deribit account) · Pixel Meets Chain (3D payoff surface, generative contract art, cinematic UI).

Link to presentation : https://docs.google.com/presentation/d/1-8rVY56Oyn8qg-scat6pkoVcIuOUe6SXUrryJ1wAiJk/edit?usp=sharing Link to vercel.app deployment : https://xrpverafi.vercel.app/