CS2 Skin Custody and Settlement
Learn how CSfi uses custody-backed options, including covered calls (skin delivery) and covered puts (receipt + USDC collateral), and what users should know before trading.
Why custody is required
Custody-backed options need a verified path to settlement. Covered calls require the underlying skin in custody for reliable physical delivery if exercised. Covered puts require a registered skin receipt and USDC collateral equal to the strike for cash settlement.
CSfi surfaces custody and collateral requirements before conversion flows so participants understand when an asset or receipt is encumbered and when it can be withdrawn.
Steam linking role
Steam linking helps map eligible inventory for covered-call delivery and register skin receipts for covered-put collateral. Linking is read-oriented until a user explicitly starts a custody deposit, receipt registration, or settlement workflow.
Users should review Privacy, Security, Risks, and Terms before linking accounts or depositing inventory.
Lifecycle overview
A custody-backed lifecycle depends on the option type. For covered calls it includes inventory verification, deposit, lock, quote creation, exercise or expiry, settlement, and withdrawal when the skin is unencumbered. For covered puts it includes receipt registration, USDC collateral posting, quote creation, exercise or expiry, cash settlement, and collateral release.
Beta controls may limit eligible assets, supported markets, and available flows.
Covered-call deposit, lock, settlement, and withdrawal flow
Before a skin can back a covered call, CSfi verifies the inventory item, records the deposit intent, waits for transfer evidence, and only treats the asset as usable after finality and registration checks pass.
When a covered call is open, the underlying skin is locked or otherwise encumbered. Exercise, expiry, settlement, release, and withdrawal are separate lifecycle steps, and each step can be delayed by Steam, chain, or beta operating controls.
Covered-put receipt, collateral, settlement, and release flow
For covered puts, the writer owns or controls a registered skin receipt, posts USDC collateral equal to the strike, and co-signs the canonical prepared transaction before broadcast.
The put buyer does not deliver the underlying skin and receives a cash payout when the option is in the money. On exercise, the writer's collateral pays the payout; after expiry settlement, reclaim, or release, remaining collateral returns to the writer.
Custody and collateral limitations
Custody and collateral reduce settlement risk but do not eliminate price, liquidity, platform, blockchain, operational, or Steam policy risk.
CSfi does not guarantee uninterrupted withdrawals, instant settlement, universal asset support, or that every custody-ready item will have live quote availability. Covered-put collateral is denominated in USDC and tied to a registered skin receipt.
FAQ
Can I withdraw while a call or put is active?
Only unencumbered assets and collateral can be withdrawn. Active covered-call obligations may restrict skin withdrawal, and active covered-put obligations lock posted USDC collateral until exercise, expiry settlement, reclaim, or release.
Does Steam linking itself custody my skin?
No. Custody begins only when you explicitly initiate a deposit or settlement workflow.
What does inventory verification check?
Verification maps a Steam inventory item to a supported market and checks whether it appears eligible for the current beta flow. It is not a guarantee that a quote will be available.
What happens if settlement cannot complete immediately?
The lifecycle can remain pending, require retry or operator review, or resolve according to the product controls and terms for the affected beta flow.
Can every CS2 skin be deposited?
No. Eligibility depends on catalog support, policy controls, custody status, market availability, and beta limits.
How is a covered put different from a covered call?
A covered call uses skin custody with physical delivery. A covered put uses a registered skin receipt and USDC collateral equal to the strike, with cash settlement. The writer owns or controls the receipt and posts USDC; the buyer never delivers skin and receives cash when in the money.