Describe. Preview. Fund. Watch. Every plan, the same four steps.
Locke runs on Base. Each plan is a vault you own, and Locke hedges from it on Veranta, within limits the vault itself enforces.
- 01
Describe
ETH or BTC you hold, stocks you hold, or the crude oil or fuel you buy each month. Pick how much to protect and the leverage.
- 02
Preview
Hedge size, margin, buffer, trading fees, Locke's fee, the vault's limits and what holding the hedge costs on Veranta right now.
- 03
Fund
Sign in with Base and approve: one request in Base Account (two in other wallets) creates your vault and deposits the USDC. Locke's keeper opens the hedge on Veranta.
- 04
Watch
The keeper watches margin around the clock and, while the market is open, tops it up from the buffer within your vault's limits.
Protect what you hold
Locke sells ETH or BTC on Veranta against the share of your treasury you choose to protect. If the price falls, the hedge gains what the treasury loses. It's a direct hedge: the only gaps are holding costs, fees and any share you leave unhedged. The coins you hold never move; only the USDC margin sits in the vault.
Manage what you buy
Locke buys crude on Veranta for the part of your oil bill that moves with crude: all of it for crude oil itself, part of it for diesel, petrol, jet and marine fuel, heating oil, LPG, asphalt or plastics. If crude rises, the hedge gains and pays down the bill. For anything but crude it's a partial hedge: local prices also move with refining margins, exchange rates, taxes and policy, which crude doesn't capture.
Protect the stocks you hold
Locke sells the stock (NVIDIA, Apple, Tesla and more) or an S&P 500 or Nasdaq 100 index on Veranta against the share you choose to protect. If the shares fall, the hedge gains. Holding Coinbase's tokenized stocks on Base? Locke reads them from your account and sizes the plan for you. Stock markets follow US trading hours: these plans start with a bigger buffer, and the hedge can only be closed while the market is open. Stock plans aren't available to US persons.
Margin kept topped up. Before Veranta steps in.
Each vault keeps a buffer of USDC beside the hedge. Locke's keeper watches margin use around the clock and, while the market is open, adds from the buffer well before liquidation, only within the limits your vault sets. When the buffer runs out, your plan's page says how much to add.
Watch
The plan shows amber. Nothing to do yet.
Top-up
The keeper adds margin from the vault's buffer, back to about 35%.
Buffer used up
The plan shows how much USDC to deposit so the keeper can add it, or you can close the hedge.
Liquidation
Veranta closes the position. What's left stays in your vault.
A vault you own. Locke hedges from it within limits you set.
Your own contract
Your wallet approves the USDC and creates the vault, owned by you. Nobody else can withdraw from it.
Limits on Base
The vault itself caps leverage, hedge size, margin and slippage. Locke's keeper can open and add margin within them; it can never close your hedge or withdraw.
Exit from your wallet
Withdraw or remove Locke's keeper at any time, even if Locke is offline, and close the hedge while its market is open.
Public proof
While the hedge is open, a Protected by Locke attestation on Base shows it, so a lender or client can check it.
Protect as you get paid
Optionally, sign once to move a share of incoming USDC into the vault, never more than your weekly cap.
One vault per plan
Each hedge has its own vault and its own margin, so trouble in one never touches another.