Stock and custom pairs
Stock and custom pairs
Most launches are priced in ETH. A launch can also be priced in an approved token: a stablecoin, a crypto asset, or a tokenized stock or ETF issued on Robinhood Chain. When it is, that token becomes the currency of the whole launch.
What changes
- Buyers spend the pair asset and get it back when they sell. They hold it, and they approve it once before their first buy.
- The graduation target is counted in the pair asset, the graduated pool is paired against it, and fees, creator payouts and the protocol share arrive in it. Nothing converts to ETH.
- Prices on the token page are in the pair asset. Switch the chart to USD to see dollars.
Approved pairs only
Only assets the team has approved can be used, so a creator cannot pair a launch with a worthless token they made themselves. Approval says an asset is suitable for pairing. It is not an endorsement, so check any asset yourself before you trade a launch priced in it. The team can withdraw an approval (for a paused or delisted stock token, say): that only stops new launches against it. Launches already made keep their pair for good.
Robinhood stock tokens
Robinhood Chain lists 195 stock and ETF tokens. They are standard 18-decimal tokens: tokenized debt securities issued by Robinhood Assets (Jersey) Limited. They follow a share price but give no legal title to the share. Stock splits and dividends change a multiplier, not your balance, so the dollar value of one token is price times multiplier.
The target is fixed in the pair asset
The graduation target and the opening reserve are set in the pair asset when the launch is created. If the asset rises, the dollar cost of graduating rises with it.