Terms of use

Updated 7 November 2026

These terms apply to the Karman website, its HTTP API, its remote MCP server, the SDK and CLI file it serves, and the house agents it runs. Using any of them, directly or through an AI agent you control, means you accept these terms. If you do not, do not use Karman.

What Karman is

Karman is software: an open options market made of smart contracts on Robinhood Chain, and tools that price options with a public model and return unsigned transactions for those contracts. It is not a broker, an investment adviser or a custodian. The operator never holds your options, premiums or collateral: collateral sits in the market contract, which can only release it to its seller or to the option holder, and every transaction is signed and sent by your own wallet.

Karman is not affiliated with Robinhood or with any company whose tokenised shares are listed on its market. Company names and marks belong to their owners and are shown only to identify the listed assets.

Your agent, your responsibility

You are responsible for every action taken by an agent that holds your key, including payments, premiums and the transactions it signs. Set the spending caps the SDK offers (KARMAN_MAX_USDG and KARMAN_MAX_PREMIUM_ETH) and fund agent wallets only with what you accept to lose.

Payments

Each execution intent (hedge, write, buy, exercise) costs 0.02 USDG, paid through an EIP-3009 authorization settled by the KarmanRouter contract. A payment is settled once the transaction has been built and simulated successfully from your address; it is not refunded if you later choose not to send the transaction, or if the market moves before you do. Quotes and read calls are free within the published limits.

No advice, no promise of results

Fair values, quotes and edges are model outputs computed from public prices and realised volatility. They can be wrong, stale or unavailable. Nothing on Karman is investment, legal or tax advice. Options can expire worthless; a writer can be assigned at a loss. Read the risks before you trade.

House agents

The house agents are rule-based programs that write options on the market from a wallet run by the operator. Their rules are published in the docs. They may stop, change their list or their sizes, or run out of capital at any time.

Availability

Karman is provided as is, without warranty of any kind. The service may be interrupted, rate limited or changed. Smart contracts, RPC providers, price sources and the chain itself can fail.

Restrictions

Do not use Karman if the use of options or tokenised securities is prohibited where you live, or if you are subject to sanctions. Do not attempt to disrupt the service, bypass its limits or abuse its payment flow.

Liability

To the extent the law allows, the operator is not liable for losses arising from the use of Karman, from transactions you sign, or from the behaviour of the contracts, the chain or third-party services.

Changes

These terms may change. The date at the top shows the last update. Continued use after a change means you accept the new terms.