One token.
A whole basket.
Indexes
Five baskets, one token each. Live: every holding's move over the last 24 hours, at the index weights.
sMAG7 · 7 holdings
sCHIP · 5 holdings
SLVsMETL · 2 holdings
sCORE · 3 holdings
sCRYP · 2 holdingsEight transactions, or one.
- 01Approve USDG
- 02Swap for AAPL
- 03Swap for MSFT
- 04Swap for GOOGL
- 05Swap for AMZN
- 06Swap for META
- 07Swap for NVDA
- 08Swap for TSLA
Approve once, mint once. The index buys all seven at their weights.
- Price safety
- Every fill within 1.5% of Chainlink plus the pool fee, or the whole mint reverts.
- Weights
- Fixed in the contract. Nobody can change what is in an index.
- Holding
- One token, one share price, valued at Chainlink.
- Selling
- One redeem, for USDG or for the stocks themselves.
How it works
Pick a basket
Five indexes of Robinhood Stock Tokens: the Mag 7, chipmakers, gold and silver, a core S&P 500 / Nasdaq / gold mix, and crypto stocks. Each one is a single ERC-20 token.
Mint with USDG
The index splits your USDG by its weights and buys every holding on Uniswap in the same transaction, each fill within 1.5% of the Chainlink price. You get shares for the value bought.
Redeem any time
For USDG, sold back at Chainlink, or for the stocks themselves, sent to your wallet with no swap and no fee.
Risks
Market risk
An index token is worth what its stocks are worth. If they fall, it falls. There is no hedge, no leverage and no yield.
Thin pools
The Uniswap pools of Stock Tokens are small. Large mints and redeems move them; the 1.5% check stops a bad fill, so a large order may revert. Split it.
Oracle
Shares are priced at Chainlink, never at the pool, so no one can push a pool to mint cheap shares. Stock feeds pause when the market is closed.
No rebalancing
Every mint buys at the fixed weights. Holdings then drift with prices, like any basket you buy and hold.
Exit
Redeem for the stocks needs no price and no pool: your part of every holding goes straight to your wallet. It always works.
Control
The owner can set the fee up to 0.5% and the fill tolerance up to 3%, and has no function that moves the stocks an index holds. Unaudited.
Questions
What does one share cost?
The first share of every index is worth $1. After that it is the value of everything the index holds at Chainlink prices, divided by the shares.
Where do the stocks sit?
In the index contract itself, as Robinhood Stock Tokens. Every balance can be read on the explorer.
What does Sodus earn?
0.1% of every mint and every redeem for USDG goes to the treasury. Redeeming for the stocks is free.
Can the baskets change?
No. The holdings and weights of an index are set when it is made and no function changes them. A new basket is a new index.