How the deskworks.

$SPLRG is a desk on Robinhood Chain (chain ID 4663) for Robinhood Stock Tokens.

Swap a listed name versus USDG. Hold a Splerg as one vault share. Lock one token into price and drip. Those tokens are economic exposure. They are not brokerage shares.

The desk does not mint Stock Tokens. Authorized participants mint and burn with Robinhood Assets Jersey. This app prepares unsigned transactions. Your wallet signs them.

A Stock Token is economic exposure to an underlying stock or ETF, issued as an 18-decimal ERC-20 on Robinhood Chain. It is not legal or beneficial ownership of that security.

Only Robinhood authorized participants mint and burn with Robinhood Assets Jersey. $SPLRG composes with tokens that already exist. Nothing here is investment, legal, tax, or financial advice.

Three panes:

• Left rail — searchable Stock Tokens and Splergs.
• Center — chart, holders, and transfers for the selected name.
• Right rail — ticket and a live Activity feed. On Portfolio, Activity fills the rail.

Create opens a drawer: Splerg or Split series. Deploy confirms in a modal. Image uploads go to Pinata only when you confirm deploy.

Connect a wallet on Robinhood Chain. The API prepares unsigned transactions. Your wallet signs them. The server does not hold keys.

The ticket lists names versus USDG. Last sale / RHJ ask, Nasdaq session %, chart, holders, and onchain transfers sit on one screen.

Buy and sell are Uniswap swaps against USDG. Preview lists every v3 and v4 USDG pool that quotes for your size. You pick one (best fill is marked). v4 goes through Permit2 and the Universal Router; v3 uses SwapRouter02. No pool means no send — the desk will not invent a fill.

A desk buy is a wallet swap. It is not a vault mint, and it is not ownership of the stock.

A Splerg is a vault that merges weighted names into one token. Create deploys an empty vault. You deposit after. An empty vault is $1 a share. Onchain the vault is still an IndexVault.

The live cash path is USDG. Enter an amount. The vault splits it by target weights and buys each name on that token’s USDG Uniswap pool — the same venues as the desk ticket. There is no INDEX/USDG pool. If you already hold the names, approve each token and depositInKind.

• Splerg names must be on AssetRegistry (AAPL, NVDA, MSFT, TSLA, GOOGL, META, AMZN, AMD today). NFLX and AVGO cannot go in a vault until Chainlink publishes those feeds.
• At least 2 and at most 25 Stock Tokens.
• Weights must sum to 10,000 bps (100%).
• Default management fee is 50 bps per year (0.50%).
• No protocol deposit fee. Uniswap pool fee and slippage apply on the USDG path.
• Live vaults accrue the fee by minting Splerg shares to the fee recipient.

Redeem burns Splerg tokens. USDG out sells the pro-rata holdings on Uniswap and pays you cash. In-kind returns the Stock Tokens instead. No approve — the vault is the Splerg ERC-20. Splerg tokens are exposure to those holdings, not ownership of Apple or anything else in it.

Stock Token price

Price of one Stock Token, not one brokerage share.

Do not apply uiMultiplier() to Chainlink. That feed is already multiplier-adjusted. GET /rhj/prices/{symbol} is raw underlying bid/ask, so offchain quotes multiply by currentMultiplier. Use ask, not mid.

Splerg price (NAV per token)

The Splerg token price is vault NAV divided by supply. It is not a weighted average of stock prices.

NAV = Σ (Bᵢ × Pᵢ)
P_idx = $1 if S = 0 or NAV ≤ 0
P_idx = NAV / S otherwise

Empty vault / first mint: P_idx = $1. A first deposit of V USD mints V shares. Do not use Σ wᵢ Pᵢ. That is an index level and does not match a vault share that starts at $1.

If the vault is empty, session change still needs the weights. Implied units for a $1 target-weight slice:

Bᵢ = wᵢ / Pᵢ
wᵢ = targetWeightBps / 10,000
Σ wᵢ = 1

Session percentage change

Same meaning as a stock’s Nasdaq day change: return of P_idx versus session open. There is no stored prior-close NAV yet. Open is rebuilt from each constituent’s Nasdaq move rᵢ:

rᵢ = Δ%ᵢ / 100
P_open,i = Pᵢ / (1 + rᵢ)
NAV_now = Σ Bᵢ Pᵢ
NAV_open = Σ Bᵢ P_open,i
Δ%_idx = (NAV_now − NAV_open) / NAV_open × 100

Supply cancels when S is unchanged, so this is also the return of P_idx. Skip a leg if Pᵢ, Bᵢ, or Nasdaq Δ%ᵢ is missing, or if rᵢ ≤ −1. If nothing remains, percentageChange is null.

Example: 1 AAPL token at $110 (+10%) and 2 MSFT tokens at $50 (−20%). Open prices are 100 and 125. NAV now 210, NAV open 225. Δ% = (210 − 225) / 225 × 100 = −6.67%.

Stocks on the desk still use Nasdaq percentageChange directly. Splergs never invent a letter-seed change.

A split locks one Stock Token and mints a price token plus a drip token. There is no USDG-in. Buy the name first, then split.

• Split takes 10 bps and mints the net amount of each child.
• Merge both sides anytime to unlock the Stock Token. Merge is free.
• Maturity must be 7–1,825 days out.
• After maturity, settle freezes dT. Price redeems a × d0 / dT of the locked token. Drip redeems a × (dT − d0) / dT minus 5%.
• Drip is a claim on remaining uiMultiplier() growth. It is not a cash dividend and does not expire.

Management fee on a series is 0–500 bps per year. Default in the create flow is 50 bps.

A strategy vault holds Stock Tokens under a mandate — sector, yield, and similar. Depositors hold a vault token, not the stocks themselves. Price is the same NAV-per-share idea as a Splerg: holdings × token prices ÷ supply.

50 bps means 0.50% per year. 10 bps means 0.10% of the split amount. Protocol fee bps of 2,000 means 20% of that collected fee, not 20% of AUM.

Portfolio shows onchain balances for the connected wallet: USDG, Splerg tokens, and Stock Tokens. Equity is cash plus marked positions. Stock Token value uses the same RHJ ask the desk uses. Splerg value uses vault NAV × shares when the API provides it.

This book is exposure. It is not a brokerage statement of share ownership.

The right-rail Activity panel is a websocket of app events: live buys, sells, creates, splits, merges, deposits, and redeems. It is not the same as the selected token’s onchain transfer list in the center pane.

uiMultiplier() is a shares-per-token ratio scaled by 1e18. Use it only for share-equivalent display:

share-equivalent = raw balance × uiMultiplier / 1e18

Do not multiply Chainlink stock-token prices by the multiplier. Those feeds are already adjusted. During corporate actions, treat oraclePaused() as price temporarily unavailable. Staleness remains the primary guard.

Terminal (Next.js)
    → API (NestJS)
        → Robinhood RHJ — assets, prices, corporate actions
        → Robinhood Chain — balances, vaults, transfers
        → Uniswap v3 / v4 — USDG ↔ Stock Token pools
    → Contracts — IndexVault, SplitVault, TradeExecutor, factories, oracles, fees

The list and the prices come from Robinhood, not a hardcoded watchlist. The backend prepares unsigned transactions. Wallets sign. The server does not hold keys.

Shared infra is live on Robinhood Chain (chain ID 4663). These six addresses are protocol-wide. They are not stored per Splerg in the database.

Create Splerg and Create Split talk to the factories. After a product deploys, the new vault address is what the desk saves on that product.

Admin / deployer: 0x02BE958CFb5973118448B0c7CA2B63B583ff7AE2. USDG: 0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168.

Per product

Factories create these when you deploy from the desk. The API then writes the vault onto the product row.

• Not a licensed broker-dealer, and not a way to buy the actual stock.
• Not legal or beneficial ownership of any underlying share.
• Not a cash dividend, even when a split pays drip.
• Not investment, legal, tax, or financial advice.
• Not a share-equivalent index level like SPX.

Official Robinhood context: Stock Tokens, building guide, oracles.