Weekend cover for Robinhood Stock Tokens, paid in USDG if Monday opens lower
Robinhood Stock Tokens are tokenized stocks that trade around the clock, but the Chainlink price feed behind them follows the stock market's schedule.
Across 8 weekends and 4 feeds (NVDA, AAPL, SPY, TSLA), the feed printed no round for 50 to 61 hours after Friday's last price on a normal weekend, and zero rounds on any Saturday or Sunday.
The gap is real money:
NVDA fell 3.455%, from $218.30 to $210.76, over the weekend of 2026-09-14.
At block 72,916,196, the ten largest Stock Tokens had $44.0M of measured exposure sitting in AMM and orderbook contracts.
That represented 43% to 73% of each token's supply.
$31.7M of that exposure was in the single Uniswap v4 PoolManager.
Holders and liquidity pool operators carry that Friday-to-Monday gap with nothing on-chain to hedge it.
Janus sells weekend insurance on a Stock Token.
A holder pays a small premium before Friday's close and locks a strike price.
If the stock opens Monday below that strike, the holder is paid the difference in USDG, the regulated Paxos dollar stablecoin, from money that writers locked in escrow.
If the stock holds up, the writers keep the premium.
Nobody sets the price and nobody adjusts a claim: the Monday opening price comes straight from Chainlink.
A writer locks USDG in escrow for a weekend series on one Stock Token.
A holder takes the cover before the cutoff with a single EIP-3009 signature, paying a premium that is never lower than the on-chain fair price.
The Friday reference is the last Chainlink round before the close, proven against its neighbouring round so no one can pick a convenient one.
The Monday fix is the first fresh Chainlink round after the open, also proven against its neighbour.
Anyone claims:
The holder receives the gap below the strike.
The writer receives the rest.
Corporate actions are protected: if the Stock Token's multiplier changes between reference and fix (a split or dividend), the series cancels and refunds everyone.
People holding Stock Tokens who want protection against a weekend price gap.
Operators of stock-paired liquidity pools who carry inventory over the weekend.
USDG holders and trading desks who want to earn a premium by writing weekend cover.
Lenders who want collateral that survives a Monday gap.
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Everything is BUILT from scratch
A Rust program on Arbitrum Stylus, FairPricer, holds 504-weekend gap tables for NVDA, AAPL, SPY, and TSLA and returns:
The mean payout of a weekend put.
The number of weekends it paid.
The worst gap.
For NVDA at a 97% strike:
Fair price: 16.11 bps
Weekends paid: 22
Worst gap: -1474 bps
The same view costs:
141,460 gas in Solidity
68,351 gas in Stylus
That makes Stylus 2.07× cheaper.
30 Rust tests hold the Stylus contract to the Solidity reference across all 72 strike and floor cases.
PricedWeekendNote calls it inside every take and refuses any premium below it.
Cover also becomes a building block for lending.
CoveredStock tokens are ERC-20s that bundle a stock with its weekend cover and expose a Morpho Blue oracle.
On a mainnet fork, the same 88% loan through a 10% Monday gap:
Is liquidated on plain NVDA.
Stays healthy on covered NVDA.
rcTSLA is a covered TSLA token listed once that rolls its own weekend put every week, within a 6-hour window before the cutoff and at no more than 1.25× the on-chain fair premium.
Its first roll bought series #3 at:
0.619756 USDG per unit
Against a 0.531344 USDG fair premium
An ERC-4626 UnderwritingPool over Paxos USDG lets writers earn the premium behind a 7-day curator timelock.
WeekendNote: 0x7F2F2908B7e3ab262dD1Fcc80e4B43156ae25dB7
Creation tx: 0xdc804b42556737f820d915f457255d885bcdef266318de21967fcf61bce7228b
Stock Tokens: 12 allowlisted tokens, each read through its own Chainlink proxy
Settlement: Paxos USDG 0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168
PricedWeekendNote: 0x03Ef0eCEb80F7f194a183Be77Ed3520c285D56E3
Note v3 — Paxos USDG: 0x92895Bcd2b0A64a13DB71a3E2bb3EDa1F629c8B0
FairPricer (Stylus): 0xfa4b9a9a21b8ff600ddb99e72795beff1e1bb411
UnderwritingPool: 0x5A0F9056FdFa2432c7d2b9e78f71058140F0e154
cvS2: 0x3c7ad9777C73Cb18Ef08f05f6D0f1CA40b4487e4
rcTSLA: 0xa0C1A3EC6C577567B6956000a2064B3C8afcB053
Five series were:
Written
Taken
Referenced on the Friday close
Fixed on the Monday open
Claimed on 2026-09-28
Morpho market:
0x2e39d227ffdadb0ed866a6903be00c81d2bff94a1d1ef1d8d574f014b3d51b60
It lends Paxos USDG against cvS2 at a 91.5% LLTV:
20 USDG supplied
15 USDG borrowed
Against 1.5 cvS2
Transaction:
0x0efe66bc4682c2e3bb1982e0ffb4dcbc70eb43d49f9c88cfbf4746fd8c17a485
494 Foundry tests outside the fork suites
0 failures
30 Rust tests
BUILT WITH
Robinhood Chain - for the Stock Tokens and their Chainlink feeds.
Arbitrum Stylus - Rust and stylus-sdk for FairPricer.
Paxos USDG - settlement, with EIP-3009 one-signature takes.
Chainlink - reference and fix rounds.
OpenZeppelin - SafeERC20 and ReentrancyGuard.
Morpho Blue - covered-collateral lending.
Solidity + Foundry - smart contracts and testing.
React + wagmi + viem - web app.
Python - keeper and relayer.
Everything was built from scratch for the Buildathon
In talks with NetNetCap for partnership