Risk & capital formation in the age of agentic finance

The missing layer of the agent stack: where agents underwrite, price, and transfer risk.

Ecosystem Partners

Agents are already the user

250K Daily active onchain agents +400% YoY
96:1 Non-human to human identities in finserv
165M x402 machine-to-machine transactions

The agent infra stack is missing one layer

  • Identity ERC-8004 ✓ Live
  • Wallets Coinbase Agentic · Turnkey ✓ Live
  • Payments x402 ✓ Live
  • Execution DEXs · vaults · lending ✓ Live
  • Risk Underwrite · price · transfer ✕ Missing
Agents can create and amplify risk. They cannot manage or transfer risk.

Risk customization, not risk mitigation

Same vault token. Three different risk shapes.

Shape A

Protect against a >3% NAV drop

Swap vault token for stablecoin at $0.97/$ — i.e. downside protection below a 3% loss

$$$
Shape B

On-demand exit liquidity

Swap vault token for stablecoins at NAV, anytime

$$
Shape C

Range-bound coverage on the first 10% of loss

Costs up to $0.10/$

$

Why this is structurally agent-shaped work

Dimension Human / Algorithmic Agentic
Speed Weeks to clear a bespoke trade Milliseconds · agents negotiate continuously
Granularity Fixed menu of standard products N pools per asset · tuned to each buyer
Cost to create a new market Fixed overhead per market · scarce Marginal cost ≈ 0 · scales with software

N pools per asset. Not one. That's the structural shift.

Cork the rails for risk in an agentic world

One primitive. Two tokens. N configs.

Collateral e.g. sUSDS
Cork Pool epoch · oracle · atomic
cPT Underwriting position · LP holds · earns yield
cST Policy · buyer holds · exercise on trigger

Live on Ethereum mainnet · Audits: Certora + ChainSecurity · Monitoring: Hypernative

Backed by

Three agentic layers on top of one primitive

Agentic buyer
L3

Agentic trading & underwriting between vaults

Tranched cPT portfolios · structured products · reinsurance-style secondary risk transfer

L2

Agentic primary underwriting

Capital priced into freshly-created markets · agents post limit orders · no human in the loop

L1

Agentic market creation

N pools per asset · marginal cost ≈ 0 · cold-start solved

Cork primitive cST / cPT

Cork is agent-native by design

Not retrofitted for agents. Designed for them.

  • Singleton CorkPoolManager one known address
  • Deterministic pool addresses agents compute without RPC
  • ERC-7683 rollover intents converging with AgentKit, x402
  • Off-chain quote · on-chain settle read state, simulate, mint
// read live pool state — no RPC dance
agent.read(poolState)

// price the position off-chain
agent.simulate(notional, premium)

// mint the policy — atomic on-chain settle
agent.call(mintCST, poolId, notional)

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