Capital-backed valuations

Name your valuation.
Put capital behind it.

Lock USDC at the private-company valuation where you would actually own exposure. Get paid a premium when a PreStocks holder takes the other side.

Your commitment joins a live, capital-backed demand curve — what people will pay at each valuation, not what they say in a poll.

Explore OpenAI How it works

Collateral in program vaults
PreStocks-native
Fractional
No oracle in settlement

OPENAI · Commitment CurveLive · devnet

Capital committedMarket $1.6471T

$1.3T

—

$1.2T

$465

$1.1T

$440

$1.0T

$735

$900B

$975

$800B

$310

Commit

I would own around

$1.0T

Size

$100 USDC

Premium

$4.60

vs market−39.3%

Strike / token$807.15

Premium / coll.+4.6%

Open the commit panel

Anduril$126.1B+3.3% vs mark Anthropic$1.5976T+0.7% vs mark Figure AI$37.7B−6.3% vs mark Kalshi$33.9B−4.1% vs mark Neuralink$72.1B+17.3% vs mark OpenAI$1.6471T+26.7% vs mark Oura$14.5B−1.1% vs mark Polymarket$14.7B+0.4% vs mark SpaceX$1.5421T−22.7% vs mark

On chain now

devnet, read live from Position accounts

Capital committed

$7,795

56 open commitments

Positions matched

15 live, 12 settled

Premiums paid to makers

$45.23

on every matched position, after $0.46 protocol fee

Makers vs holders, net P&L

Makers +$92.69

Holders −$93.15

at today's market price; they differ by the protocol fee

How P&L is measured: premium plus exercise value, fees excluded.

Latest on chain

Made to fill

Capital on the curve is only worth something if it can be taken. So it can be taken in pieces, in bands, and across a range, and none of it gets stuck.

Slices
Take any part of a floor
One commitment serves many holders. Take $10 of it or all of it: each slice is its own claim, with its own collateral, priced pro rata against what the maker escrowed.
Buy a floor →
Sweep
A band of protection, one approval
Ask for $150 and it fills across floors, cheapest premium first, packed into as few transactions as will fit.
Sweep a band →
Ladder
Commit across a range
Spread USDC from one valuation to another in one approval: evenly, or with more at the lower valuations you would rather own at.
Build a ladder →
Your book
Run it like a book
What holders took, what is still on offer, what the premium paid and your capital over time. Withdraw what nobody took; settle what has run out.
Open your book →

Keeper

Nothing waits on a counterparty

Past its deadline, anyone may settle a claim: the maker’s USDC and the holder’s tokens go home, and nothing else can move. A keeper does it for everyone every ten minutes, and because anyone may, nobody depends on the keeper either.

The protocol’s cut comes out of the premium, is capped at 5% by the program, and is never taken from collateral.

Try both sides on devnet

1
Switch your wallet to devnet
In Phantom: Settings → Developer settings → Testnet mode, Solana Devnet.
2
Get test tokens
3
Commit at a valuation
On OPENAI, pick where you would own it and lock USDC. You earn the premium if a holder takes it.
4
Take the other side
From a second wallet, open Protect, buy a floor, then watch both sides and their P&L on My Positions.