Crash insurance for your crypto, paid automatically.
Pick an asset you hold, choose how far down you want to be protected, and pay one premium. If it falls below your level, you’re paid in proportion to the drop — no claim to file, no counterparty deciding whether you qualify.
Crypto is brutally volatile — yet holders have no simple way to hedge a crash.
Every option today is built for traders and institutions, not for the person who just wants to keep what they hold.
CEX options
Custodial, KYC-gated, and buried in complex Greeks. Not built for a normal holder.
Too complex · custodialPerps & shorts
Active management and liquidation risk. You can lose more than you put in.
Liquidation riskSell and re-buy
You miss the upside and pay the taxes and fees on the way out — and again on the way back.
Miss the upsideOn-chain “insurance”
Nexus Mutual and its peers cover smart-contract failure — not a price crash.
Wrong risk coveredSo holders eat the volatility or panic-sell at the bottom. The #1 fear — “what if it dumps” — has no consumer product.
Keel is parametric crash insurance for price.
It feels like buying travel insurance. Pick the asset, the protection level, and the term — then pay a premium in one tap. If the asset settles below your trigger at expiry, the payout lands in your account automatically. If nothing happens, your cover simply expires.
Proportional payout
The further it falls below your trigger, the more you’re paid — up to your coverage. It mirrors your real loss, not a fixed lottery prize.
No claims, ever
No adjusters, no counterparty discretion. Settlement is on-chain and the payout is automatic the moment it triggers.
Consumer-grade onboarding
Sign in with email or Google to get a non-custodial Sui wallet. No seed phrase, no gas to think about.
How the magic works.
Five moving parts. You only ever see the first three — the rest runs itself.
Proof of exposure
Keel reads what you actually hold, so you size cover to your real position — not a number you guessed.
Indemnity engine
Your request — “protect my BTC down to $56k” — becomes a ladder of binary BTC below $X positions that approximates a linear loss curve. Every premium is priced live from DeepBook Predict, never invented by us.
One signature
A single signature mints the whole ladder into your own on-chain account. (It creates your Keel account inline if you don’t have one yet.)
Automatic payout
When the oracle settles, a permissionless keeper redeems the in-the-money positions and the payout lands in your account. You do nothing — “you do nothing” is literally true.
Underwriters back it
A shared vault supplies the capital that backs your cover — and earns the premiums when crashes don’t come.
The deeper the crash, the larger the payout.
A ladder of binary positions approximates your real loss curve, so a small dip pays a little and a deep crash pays a lot — up to the coverage you chose. A 4-day market, for example, can insure you down to roughly a 17% drop.
Why this is possible now.
Three things had to be true at once. They finally are.
On-chain price markets
DeepBook Predict brought deep, on-chain prediction-market liquidity to Sui. The rails for cheap, composable, permissionless price markets finally exist.
Embedded wallets
Privy made onboarding normal: email login, no seed phrase, account abstraction — crypto UX a regular person can actually use.
Micro-policies are viable
Sui’s low fees mean you can insure $100, not just $100k. Crash protection finally makes sense for the everyday holder.
How Keel compares.
The only option that covers a price crash, pays out automatically, and a normal person can use.
| Custody | Crash cover | Auto-payout | Consumer UX | |
|---|---|---|---|---|
| CEX options | Custodial | Yes, complex | No — you exercise | Low |
| Perps / shorts | Mixed | Indirect | No — liquidation | Low |
| Nexus Mutual & co. | Non-custodial | No — hacks only | Claims process | Medium |
| Keel | Non-custodial | Yes, proportional | Yes | High — no seed phrase |
Two sides of the same vault.
Buyers get protection. Underwriters supply the capital that backs it — and earn the premiums.
Insure what you hold
One tap to protect a balance against a crash. Cover sized to your real position, premiums quoted live from the market, payout automatic if it triggers. Watch a live policy with a countdown to expiry, then get credited the moment it settles in the money.
Earn the premiums
Supply liquidity to a shared vault that backs cover and collects the premiums when crashes don’t come. Track your position, share-price PnL, vault utilization, and withdrawal headroom — and pull liquidity whenever there’s room.
More buyers → more premium yield → more underwriter capital →deeper cover capacity → cheaper cover → more buyers.