Robinhood Chain Testnet

Spread documentation

Spread is a fully funded, two-sided quote contract for one Stock Token and USDG on Robinhood Chain. The maker deposits both assets. A buyer pays the ask in USDG and receives Stock Tokens; a seller delivers Stock Tokens at the bid and receives USDG. The contract holds no separate treasury and charges no protocol fee.

What the maker controls

The maker sets the bid, ask and expiry, may revise these terms while the quote is active, may add or withdraw inventory, and may close the quote to recover remaining reserves. The bid must be below the ask. Expiry can be at most 30 days away. A fill needs sufficient reserves and an unexpired active quote. Takers supply an explicit maximum payment or minimum receipt.

How spread can appear

Illustrative prices of 98 bid and 102 ask mean one token sold by the maker and one later bought by the maker add 4 USDG to an otherwise unchanged one-token inventory. This is a gross arithmetic example, not a promised profit. Unmatched flow changes the maker’s stock exposure. Price changes, fees, liquidity and execution timing can make the strategy lose money.

Material risks and limits

• Fixed maker quotes can become stale immediately after market moves. No oracle automatically stops, reprices or liquidates a quote.
• One-sided order flow may leave the maker with more of the asset that has fallen in value, or less of one that has risen.
• Stock Token transfers or trading may be restricted by issuer terms, eligibility, markets or hours. Verify them before sending assets.
• USDG and the Stock Token carry issuer, chain and smart-contract risk. The Spread contract has no independent security audit.
• Only a maker can withdraw that maker’s reserves. A failed transaction does not change balances, but network gas may still be spent.

Current deployment

The current public-testnet market uses freely mintable synthetic spSTOCK and spUSDG of no monetary value. They are not canonical assets.

Market: 0x22B5c786da9fE35875662a0439CB8B6c5EE44f17
Stock Token: 0xB8e41c8d552A885008957eb1f2Fe6389cc80AB01
USDG: 0x99B05cfD0C1FF99e0aD07e1fa95bdf22af9cDEaf

View market contract on explorer

Community token

Any separately issued Spread community token is distinct from this market and provides no application utility, yield, governance, revenue claim or access rights.