Doms

Every structured note had a bank in the middle. Not because banks invented the payoff, but because someone had to hold the promise, find the other side, keep score, pay out and reach buyers. Note Systems does each job on-chain, on Robinhood Chain.

Banks built structured notes. We built the whole layer around them. Note Systems is the tokenized equities layer on Robinhood Chain: twelve products to earn, protect, trade, borrow and build. Here’s all of it, explained. [1] Markets – put your stocks and USDG to work – Notes. Earn a weekly coupon on your $USDG, or protect a stock you already hold against a fall. Pick a stock, pick a side, and see every outcome before you commit – Swap & Vaults. Buy and sell 195 tokenized stocks and ETFs at the real market price, with every cost shown up front. Or put a stock or $USDG to work and earn fees from the trading – Portfolio. See every position, coupon and claim in one place, and export it whenever you need to – Desk. A shared $USDG pool that earns coupons by stepping in when there aren’t enough coupon buyers, within published limits. For anyone who wants coupon income without picking a stock or a series themselves [2] Protocol – what you can do with NOTE – Stake. Stake $NOTE and receive the $NOTE that 90% of protocol fees buy back, streamed to stakers over seven days – Buyback. 90% of every protocol fee buys $NOTE back through a rising-price auction and passes it to stakers. The other 10% builds Treasury reserves – Bonds. Get $NOTE at a fixed price, released to you over time – Governance. Lock $NOTE to vote on how the protocol runs and where rewards go [3] Explore – take it further – Credit. Need $USDG without giving up a coupon position? Borrow against it in a @Morpho or @longbowlend market and keep earning the coupon. Both sides of every note are standard ERC-1155 tokens, so any protocol can hold, lend against or trade them – Omni. Take your note positions to other chains and back, starting with @arbitrum. Robinhood Chain holds $140M+ of tokenized stocks, out of $3b+ across all chains. Omni lets your positions reach the rest – Analytics. Check every number yourself, read straight from the chain – Build. Run a wallet, app or treasury? Offer notes and vaults to your users in a few contract calls with our SDK, and earn up to half the vault fees on every deposit you bring, paid on-chain [·] How it fits together Protect your $NVDA or $TSLA while someone else earns the coupon on it. Borrow against that coupon position, take it to another chain, and track all of it in one place. Buy the stock you want on Swap, or put it in a Swap vault to earn trading fees. And most of every fee along the way flows back to $NOTE stakers. [·] Where it stands All of the above is live on Robinhood Chain testnet, where 10,000+ people have already used it. The @cyfrin backend audit is in the final stages of completion, with mainnet launch to follow afterwards.

10,000+ people have now used Note Systems on testnet. 150,000+ deposits, $100M+ deposited, 280+ notes issued and 60,000+ note units moved cross-chain since launch on 5 September. Thank you to everyone taking part! The pre-season runs until mainnet – join in.