1. mid
176.40 USDGThe Chainlink price, behind guards. A zero, stale or implausible round stops the market rather than setting a price.
Tokenized stocks,
priced as the shares are.
Trade Stock Tokens for USDG at prices pinned to the live Chainlink mid. Each ticket lists the spread and the fee on lines of their own, and each fill settles on-chain, open to anyone who wants to check it.
$LUNAR · Oracle-anchored. On-chain. Open.
SWAP · QUOTE open ×1.0
MarketNVDAx / USDGTier A
You pay
10,000$USDG
You receive
56.6214NVDAx
- Chainlink mid
- 176.40 USDG
- Spread · 10.0 bps
- 9.99 USDG
- Skew
- +0 bps
- Protocol fee · 2.0 bps
- 2.00 USDG
Held within 75 bps of mid · atomic settlement
Half-spread10 bps
Tier A, during the open session
Protocol fee2 bps
A separate line on each ticket
Oracle band75 bps
Nothing settles beyond it
SettlementAtomic
On Robinhood Chain
NVDAx176.40Tier A10 bps
SPYx645.20Tier A10 bps
AAPLx232.15Tier A10 bps
MSFTx512.30Tier A10 bps
QQQx585.65Tier A10 bps
TSLAx342.80Tier B20 bps
AMZNx228.45Tier B20 bps
PLTRx148.30Tier C40 bps
NVDAx176.40Tier A10 bps
SPYx645.20Tier A10 bps
AAPLx232.15Tier A10 bps
MSFTx512.30Tier A10 bps
QQQx585.65Tier A10 bps
TSLAx342.80Tier B20 bps
AMZNx228.45Tier B20 bps
PLTRx148.30Tier C40 bps
Pricing
A single formula, published in full
Each quote on Lunar comes from identical arithmetic applied to public state, so anyone can rebuild any price from on-chain inputs.
Quote formula
your price = mid + spread × regime ± skew + fee
2. + spread × regime
10.0 bps × 1.0The half-spread for the tier (10 bps in Tier A), multiplied by the session factor: ×1.0 when open, ×1.5 in extended hours, ×3.0 when closed.
3. ± skew
+0 bpsWhen a vault drifts from its 50/50 inventory target, it tightens the side that brings it back, by up to ±15 bps.
4. + fee
2.0 bpsGiven a separate line on the ticket and logged in the fill event. It is never buried in the curve.
= your price
176.61USDG
Held inside a hard band: whatever fails upstream, no fill settles further than 75 bps from the mid.
−75 bps176.40 mid · +12.0 bps+75 bps
The chain recomputes it
Within your transaction, the router rebuilds the vault quote from oracle and vault state, so no front end can send you to a price worse than the formula gives.
Makers have to beat it
A signed RFQ quote from an attested maker settles only if it pays you more than the vault does. Losing is free for them, so they keep quoting.
A worse price reverts
Your signature carries your slippage bound and deadline. Should state move beyond either before inclusion, the swap reverts instead of filling.
Sessions
A venue that keeps track of the clock
Stock Tokens trade at all hours, yet equity markets open for only about 32 hours each week. Each market has a regime that prices in that gap, taken from the market status the oracle itself reports.
Session clockWEEKDAY · UTC
00:0006:0012:0018:0024:00
Open
×1.0 spread · full clip
Extended
×1.5 spread · ×0.75 clip
Closed
×3.0 spread · ×0.5 clip
Saturdays and Sundays count as closed from start to finish: quotes keep coming at ×3.0 with half the clip, and the ticket makes that clear. Declining to quote would bring market hours back to a chain that runs 24/7, while pricing weekend trades at weekday spreads would leave LPs as the unpaid counterparty to every Monday gap. When your trade can hold until the open, holding costs less, and the venue lets you know.
When quoting halts completely
01
The feed is older than the staleness bound for the session
clears on a new oracle round02
A corporate action, with the feed reporting oraclePaused()
clears on the feed coming back03
One round moves by over 25%
clears on a published, timelocked review04
The sequencer goes down, plus a one-hour recovery grace
clears on the end of the grace periodA halt only stops pricing. LP withdrawals keep working regardless.
Venue
One router in front of two venues
Standard-size orders fill against vaults anchored to the oracle, while block-size orders go to professional makers as signed quotes. Whichever pays you more is what the router settles.
Anchor vaults
What it does
Show two-sided quotes in every market around the guarded Chainlink mid, with tier, session and inventory setting the spread. Standard-size orders fill here immediately.
What you get
A price from a formula you can work out yourself, and LP income that reflects what the market truly pays for immediacy, not what arbitrage leaves behind.
RFQ makers
What it does
Block-size requests reach attested market makers off-chain, and they reply with signed quotes. Quoting is free for them, and they only win when they beat the vault.
What you get
Orders big enough to walk a curve are put to competition instead, then settled atomically against the maker’s own wallet via a standing Permit2 allowance.
The router
What it does
A single entry point. It verifies eligibility and the band, prices both the vault path and any RFQ quote, then settles the one that pays you more.
What you get
A token-to-token swap executes as two legs via USDG within one transaction. Should either leg fail to clear within its guards, both are reverted.
Whatever the parameters, no fill from a vault or a maker settles any further than this from the guarded mid.
Listed on the ticket and logged in the fill event, together with 10% of the vault’s realised spread. None of it is tucked inside a curve.
Assets stay in your wallet or in vaults owned by LPs. Because settlement is atomic, the venue holds nothing that could be lost.
Traders
Swap around the clock at itemised prices, with the session shown right on the ticket.
Liquidity providers
Put capital in a vault and collect the spread. Withdrawals are in kind and function in any state, halted or paused, even if your attestation has expired.
Market makers
Quote off-chain at no cost, win only when you beat the vault, and settle atomically.
Compared
Generic pools treat RWAs as if they were memecoins
Constant-product pools work for crypto-native pairs but fall short for assets whose price of record is set on an exchange. The dislocations at the 2025 launch, when thin pools quoted tokenized stocks at steep premiums, showed that gap in public.
| Property | A generic pool | Oracle-anchored Lunar |
|---|---|---|
| Price | Set by whatever sits in the pool’s reserves | Pinned to the Chainlink mid and held inside a hard band |
| Weekends | A Saturday priced as though it were a Tuesday | In closed sessions spreads widen and clips shrink, shown on the ticket |
| LP returns | Picked off by arbitrage whenever the reference price moves | They earn the spread, and skew pays the market to rebalance them |
| Splits | The pool breaks or has to migrate | The market halts, then resumes on the adjusted feed |
| Size | Pays its way down the curve | Routed to competing makers as signed RFQ quotes |
| Fees | Hidden inside the curve | Listed line by line on the quote and logged in the fill event |
The two sit side by side rather than in opposition: arbitrageurs who pull generic pools towards anchored quotes bring welcome flow, and skew pricing rewards them for rebalancing the vaults as they go.
Chain
Built on the chain the assets already call home
No other network has a regulated broker issuing tokenized equities as ordinary ERC-20s, backed by Chainlink feeds, permissionless deployment and the broker’s own distribution. Robinhood Chain does.
MainnetLiveRobinhood Chain since 1 July 2026
Block time~250 ms100 ms preconfirms
Median transaction~$0.001gas in ETH
Assets2,000+Stock Tokens, ERC-20
Stack
Arbitrum Nitro, EVM-equivalent
Settlement
Ethereum, blob data availability
Issuer
Robinhood Assets (Jersey) Ltd, 1:1 backed
Corporate actions
ERC-8056 uiMultiplier()
Oracles
Chainlink Feeds + Streams with market status
Quote asset
USDG (Paxos), MiCA-regulated, native
Accounts
ERC-4337 + EIP-7702
Explorer
Blockscout, every fill linked
Promises
Eight promises, and how to check each one
Claiming transparency costs nothing; a commitment can be checked. Should any entry below ever fail its check, it is treated as an incident, with a public post-mortem to follow.
Each fill itemised on-chain
Mid, spread, skew and fee all sit in the fill event, exactly as on the ticket.
verify: compare any fill on Blockscout with its receiptNever a fill beyond the band
Enforced as a contract invariant rather than a policy, for RFQ and the vault path equally.
verify: run the public invariant suiteUnfiltered execution quality
How far each fill landed from the mid, shown live and available as a raw download.
verify: rebuild the figures from chain eventsOrder flow is never sold
On-chain, the router settles each fill at the best price it can verify.
verify: work out any fill’s venue comparison againWithdrawals always work
LP withdrawals remain available, including when markets are paused.
verify: inspect the withdrawal pathNo hidden fees
The protocol fee is always a separate line on the quote.
verify: compare the ticket with the fill eventChanges on the record
Parameter changes come with a timelock and a published rationale.
verify: read the governance log, whole since block oneOpen source with verified bytecode
CI checks on each release that what is deployed is exactly what was audited.
verify: rebuild from the tag and compareFAQ
Questions answered, on the record
Here you get the short answers. The documentation carries the full ones, maths and failure modes included.
Trading is open.
Transparent prices. Your assets. Every fill on-chain.
Open the venue