The four contracts

The Basket.

The Basket is a rules-based index of Robinhood Stock Tokens: the top names by 30-day onchain volume, liquidity-weighted, capped at 20% per constituent, rebalanced on a published schedule. It is the object holders own — a share of the Basket is a claim on the vault's holdings, priced at NAV every block.

Minting accepts USDG or the constituents themselves. Redemption pays out in constituents. There is no discretionary allocation: the methodology is published, the weights are computed from observable data, and the rebalance calendar is known in advance. If the methodology changes, the change is published before it takes effect.

The Engine.

A governed share of each constituent is deployed as concentrated liquidity in STOCK/USDG pools on Robinhood Chain. This is the market-making arm: the Basket does not sit on its holdings, it quotes them. Because the index holds the largest inventory of its own constituents, it can be the deepest book for them.

The Engine earns the pool fees on the chain's stock flow. Deployment shares, range widths, and rebalancing rules are governed parameters, published before they change. The portion of each constituent not deployed to pools remains in the vault backing redemptions.

The Session Hook.

A Uniswap v4 dynamic-fee hook that reads a market-session feed and reprices the pool fee by session state. When the underlying market is closed, quotes are stale and the fee is wider. In the first minutes after the open, gap risk is highest and the fee is widest. Around earnings dates, wider. Mid-session, when reference prices are fresh, tightest.

This is the mechanism that makes overnight liquidity rational: the risk of quoting against a closed market is finally paid for, instead of being eaten silently by whoever was naive enough to leave a tight quote up over the weekend.

The Distributor.

Fees and idle lending yield are harvested once per daily epoch. Holders choose what happens to their share: compound it into the index, or take payouts in a single Stock Token of their choice. Hold the index, get paid in NVDA. The choice is per-holder and can change between epochs.

The Distributor also publishes the epoch accounting: what was harvested, from which pools, and the LP-versus-hold tracking difference for the period. The numbers are on chain; the claim is checkable.