Options Vault · Alternatives
The best Katana alternatives in 2026
Katana was a Solana options vault protocol that sold covered calls and puts weekly; its app has been offline since about 2023. If Katana is not the right fit, these 8 reviewed Options Vault options are the closest matches, ranked by DappsAtlas score. Read our full Katana review
At a glance
Katana vs the alternatives
| dApp | Score | TVL | Chains |
|---|---|---|---|
| Score 3.0 out of 10 | $1.35M | 1 | |
| Score 5.5 out of 10 | $3.75M | 4 | |
| Score 6.5 out of 10 | $31.8M | 2 | |
| Score 5.0 out of 10 | $308K | 3 | |
| Score 5.8 out of 10 | $370K | 2 | |
| Score 6.0 out of 10 | $922K | 1 | |
| Score 5.2 out of 10 | $981K | 1 | |
| Score 6.5 out of 10 | $83.1K | 2 | |
| Score 4.5 out of 10 | $119K | 1 |
Ranked
Top Katana alternatives
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Ribbon
Options Vault · Ethereum, Solana, Avalanche +1
Ribbon is a structured products protocol that runs options vaults to generate yield on assets like BTC and ETH. It has about $3.9M in TVL, and a reported $2.7M exploit is the main caution.
ScoreScore 5.5 out of 10TVL $3.75M−2.0% - 2
Rysk V12
Options Vault · Hyperliquid L1, Ethereum
Rysk V12 is an options vault product that pays covered-call yield upfront on assets like ETH, BTC and HYPE. It offers large headline APRs, but public sources show no listed audits and the strategy caps upside.
ScoreScore 6.5 out of 10TVL $31.8M−13.4% - 3
Cega V1
Options Vault · Solana, Ethereum, Arbitrum
Cega V1 was an options vault protocol that combined exotic option positions with bond elements to target yield. It is a small, early-generation product that later versions of Cega have reworked.
ScoreScore 5.0 out of 10TVL $308K−0.0% - 4
Hypersurface
Options Vault · Hyperliquid L1, Base
Hypersurface is a DeFi structured products platform that offers covered-call and cash-secured-put strategies on HyperEVM and Base. It is new and small, so the main takeaway is that the yield idea is familiar but the track record is short.
ScoreScore 5.8 out of 10TVL $370K−11.2% - 5
Typus DOV
Options Vault · Sui
Typus DOV is the options-vault product of Typus Finance on Sui, now sitting alongside a relaunched perps exchange as the V1 vaults are wound down. It suits experienced derivatives users, not beginners seeking passive yield.
ScoreScore 6.0 out of 10TVL $922K−0.3% - 6
Ribbon Earn
Options Vault · Ethereum
Ribbon Earn is the vault product of Ribbon Finance, a structured-products protocol on Ethereum that automates options strategies. Its TVL is only about $1M, so check that it is still operating before you rely on it.
ScoreScore 5.2 out of 10TVL $981K+0.1% - 7
Rysk Premium
Options Vault · Hyperliquid L1, Ethereum
Rysk Premium is the institutional-facing arm of Rysk, a protocol that pays holders upfront for selling covered calls and cash-secured puts. Yields can look high, but they come from giving up upside or taking on downside, and no audits are listed.
ScoreScore 6.5 out of 10TVL $83.1K−11.2% - 8
Typus Safu
Options Vault · Sui
Typus Safu was a Sui yield vault that paired lending yield with options upside. The vaults are now closed to new deposits, and existing positions can still be redeemed with no exit fee.
ScoreScore 4.5 out of 10TVL $119K−3.2%