TRACER

TRACE VOLATILITY · NOT DIRECTION

Trade volatility,not direction.

Buy receipts that pay realized variance, or write them from a vault only you own. Both sides quote on chain, every unit sold is fully collateralized, and settlement is computed from Chainlink's own round history.Tracer makes ETH realized variance tradable on 1inch Aqua — three SwapVM strategies on the official router, with pricing behind TracerMarketEngine.Why variance

How it works

Three SwapVM strategies.

Each writer funds a maker vault. VarianceSeriesFactory mints receipt inventory and ships ISSUE, EXIT, and SETTLE to canonical Aqua in one transaction — stock programs on the unmodified AquaSwapVMRouter.

Quote equals swap.

TracerMarketEngine prices every leg; storage updates only outside static calls. Takers approve the router; reservations release only when receipts burn on exit or redemption.

Open series

Executable quotes.

Every market quotes a bid and an ask. The quote rises as inventory sells, falls when holders exit, and decays toward the anchor — rows from the Lens, fills from the indexer.

Write or buy.

Browse live receipts, connect a wallet on the fork or Sepolia manifest, and re-quote on chain before you sign. Writers deploy a deterministic vault with no admin and no upgrade path.Write a series

Loss-versus-rebalancingis a variance bill.

Pay it forward — estimate notional from V·σ²·T/8, then compare live receipt cost and capacity on Hedge.

Browse markets Hedge LVR