# Knox Finance

**Knox Finance provides DeFi options vaults built with risk management in mind. DeFi Option Vaults (DOVs) enable you to earn yield on your crypto assets, like, USDC, BTC and ETH, while minimizing opportunity risk.**

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Our covered call and cash-secured put vaults focus on:&#x20;

* Generating low-risk yield by underwriting options.
* Maintaining exposure to an asset.
* Outperforming buy and hold (HODL) strategies.

## What are Knox DeFi Option Vaults (DOVs)?

* DOVs automate the process of selling options to generate sustainable yield.
* Depositors can decide to either sell call or put options depending on their market sentiment.
* The option strike price will be determined once per epoch using the [delta strike formula](https://docs.knox.premia.finance/overview/vault-system#selection-methodology).
* Once pricing is determined, the options are sold via [Dutch auction](https://docs.knox.premia.finance/overview/options-auction). The premium paid by the option buyers represents the weekly yield for depositors.
* At the conclusion of the auction, the vault underwrites the options sold using collateral provided by depositors.


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