Robinhood Stock Tokens
What TAPEZERO does and does not do with them.
What a market name means
DOG / NVDA means:
- DOG trades against the NVDA Robinhood Stock Token
It does not mean:
- DOG is backed by NVIDIA shares
- DOG represents NVIDIA equity
- DOG tracks the NVDA price
- holding DOG gives any claim on NVIDIA or on Robinhood
DOG's price in NVDA is set by trading in the DOG/NVDA pool, exactly as an ETH-quoted token's price is set by trading. The quote asset determines the unit of account and nothing else.
What a Stock Token is
A Robinhood Stock Token is a tokenised debt security that tracks the economic exposure of an underlying security. It conveys no equity, no voting right and no dividend claim against the referenced company. TAPEZERO neither issues nor endorses them, and is not affiliated with Robinhood.
The scaled UI extension
Stock Tokens implement ERC-8056, the Scaled UI Amount Extension. A token carries a uiMultiplier, and a corporate action publishes a newUIMultiplier with an effectiveAt timestamp. When the multiplier changes, every holder's displayed balance rescales.
- uiMultiplier()
- the multiplier in force now
- newUIMultiplier()
- the multiplier about to take effect
- effectiveAt()
- when it does
Language this project uses
| Do not write | Write |
|---|---|
| NVDA-backed token | market quoted in NVDA |
| tokenised NVIDIA stock | Robinhood Stock Token |
| stock exposure | tokenised stock exposure, issued by a third party |
| NVDA market cap | opening FDV, denominated in USD |
See Disclosures.
TAPEZERO is an independent protocol and is not affiliated with Robinhood, Uniswap or Chainlink. The contracts are unaudited. Nothing here is investment advice.