Read this before you deposit
16 Lines, one per tokenized stock, each holding a corridor around a reference price. Every figure below is the figure the venue uses, read from the same file the arithmetic reads.
Your USDG can hold a corridor
Holdline runs 16 managed liquidity Lines on Robinhood Chain, one for each tokenized stock. You deposit USDG, the Line supplies liquidity around that stock's market, and the trading fees compound inside it.
A Line is a single concentrated liquidity position in one USDG and Stock Token pool. It holds a corridor around the reference price, collects the fee on every trade that crosses it, and gets re-centred when price walks out.
You hold shares in that position. The shares track your part of what the Line owns, they move with the stock, and they are not principal protected. Read the rails and the reason a Line is open before you put anything in.
One Line per stock
16 of them, each paired with USDG, each with its own band width and its own pool fee.
The keeper holds the band
Rails sit either side of the reference price. When price reaches 8% of a rail the keeper queues a move.
Fees split the moment they land
65% compounds, 25% buys $HOLD back, 10% funds the protocol.
Nothing is deployed yet
Every contract surface reads "Launch soon". The venue keeps its ledger off chain until the contracts exist and are verified.
Deposit, band, fees, rebalance
Four things happen to your money, in this order, and each one has a number attached to it.
- 01
Your deposit is split, then invested
The router works out how much of your USDG has to become the Stock Token for the band's shape at the current price, swaps that much, and opens the position in one transaction. The split is never a flat half: it depends on where price sits between the rails. Whatever the position cannot use comes straight back to your wallet, so the Line you end up holding is smaller than the amount you typed. The minimum deposit is 25 USDG and the slippage budget on the swap is 0.50%.
- 02
Shares are minted against value
You receive shares worth exactly what you invested at that moment, so your deposit cannot dilute anybody already in the Line and nobody's deposit can dilute you. Share price is the Line's value divided by the shares outstanding, and both figures are printed on the Line's page.
- 03
Trades inside the band pay the Line
Every trade that crosses the position pays the pool fee, and the Line takes the part of it that matches its share of the liquidity sitting at that price. Price outside the rails earns the Line nothing at all. That is the whole reason a keeper exists.
- 04
The keeper re-centres, and it costs something
Once price reaches 8% of a rail, a rebalance is queued. It runs no more often than every 45 minutes, it is checked against a fresh reference price first, and it costs the position 0.12%. That cost is printed rather than absorbed quietly.
| Parameter | Value |
|---|---|
| Minimum deposit | 25 USDG |
| Slippage budget | 0.50% |
| Rebalance trigger | 8% from a rail |
| Rebalance cooldown | 45 minutes |
| Rebalance cost | 0.12% |
| Reference price refused past | 25 hours |
| Fee rate window | 24 hours, rolling |
| Band width | 7% to 22% either side, set per market |
Both rails snap outward to the pool's tick spacing, which is why they are never round numbers. A band you can see on the page is a band the pool can actually hold.
When a number cannot be trusted, nothing moves
The guardrails are part of the product rather than a page about the product.
A stale price values nothing
Past 25 hours a reference price stops being used. Deposits, borrows and USDG exits wait for a fresh one instead of guessing at a value.
One exit needs no price at all
Redeeming into the underlying tokens is arithmetic over the position. It works at any hour on any day, including the ones when the stock market is shut.
Rebalancing is rate limited
A band moves at most once every 45 minutes, and only after a fresh reference price agrees with the pool.
Every Line is separate
One Line cannot spend another Line's position. A market going wrong affects the people in that market.
Holdline has not commissioned an independent audit. Nobody should treat the verification page as one. It checks that the numbers on this site agree with each other and with the arithmetic underneath them, which is worth something and is not the same thing as a security review.
65% stays, 25% buys the token back
The split applies to fees a position earns and to nothing else. Your deposit pays none of it and your withdrawal pays none of it.
Compounds into the position
Bought straight back into the band at the current price, so the Line grows without anyone signing anything.
Buys $HOLD and burns it
Held in USDG until the token exists. On the day it does, the executor buys and burns, and the burn address is readable by anyone.
Protocol treasury
Pays for keepers, price feeds and the work of building the next part.
Three counters are kept separately and always add back up to gross. The verification page checks that on every Line, and prints the arithmetic it used.
$HOLD has a supply of 1,000,000,000 and no address. Until the contract is deployed, the buyback share accumulates as USDG that the executor will spend. The site says so everywhere the token is mentioned, because the alternative is printing a number nobody can check.
What a Line uses for a price, and when it stops
Tokenized equities have no public oracle to read yet, so the reference for each Line is the underlying's own price from a public feed.
Two sources are tried in order. The answer always says which one replied and how old it is. When both refuse, the Line generates a deterministic series and labels it as generated, and the page prints that label rather than hiding it behind a number.
US stocks trade five days a week. Between the closing bell and the next open the reference price stops moving, and once it passes 25 hours it can no longer value a position. Deposits wait. Borrowing waits. Converting a position into USDG waits. Redeeming into the underlying tokens keeps working, because that calculation needs no price.
| Action | Needs a fresh price | Weekend |
|---|---|---|
| Deposit | yes | waits |
| Borrow | yes | waits |
| Exit into USDG | yes | waits |
| Exit into tokens | no | open |
| Repay a loan | no | open |
| Read anything | no | open |
Borrow against shares that keep earning
Lend USDG and earn what borrowers pay, or pledge Line shares and borrow against them while they stay in the Line.
Each market holds its own USDG, sets its own limits and reads its own reference price. Pledged shares never leave the Line, so they keep collecting fees while they back your loan.
Rates follow utilisation. Borrowing starts at 1% with an empty market and climbs as lenders' cash gets used. Past 82% the slope turns steep, which keeps the last of the cash expensive to take and available to lenders who want out.
| Parameter | Value |
|---|---|
| Borrow limit | 45% |
| Liquidation starts at | 55% |
| Liquidation bonus | 6% |
| Reserve factor | 12% |
| Base rate | 1% |
| Kink | 82% |
| Minimum borrow | 10 USDG |
A scored split, with the reasons printed
Four scores from zero to one hundred over the same reads the Line pages use, weighted by the profile you pick.
Yield
The observed fee rate against the best candidate, damped until a Line has been watched for 24 hours.
Depth
How much is already in the position, so a leg does not become most of the Line it lands in.
Health
Whether price sits inside the band, how centred it is, and whether the reference price is fresh.
Stability
How wide the band is, since a narrow one earns more while it holds and leaves sooner.
The model sizes each leg by the square of its score, caps any one position at 32%, keeps at least 12% in credit, and refuses to rank a Line holding less than 1,000 USDG. It holds no funds, it rebalances nothing on its own, and the rate it ranks on measures the past.
Nothing is deployed, so nothing is claimed
The token, the registry, the router, the keeper and the credit controller all read the same thing until they exist on Robinhood Chain.
| Contract | Address |
|---|---|
| HOLD token | Launch soon |
| Line registry | Launch soon |
| Entry router | Launch soon |
| Keeper | Launch soon |
| Credit controller | Launch soon |
| Buyback executor | Launch soon |
| Timelock | Launch soon |
| AAPL Line | Launch soon |
| MSFT Line | Launch soon |
| NVDA Line | Launch soon |
| AMZN Line | Launch soon |
| GOOGL Line | Launch soon |
| META Line | Launch soon |
| TSLA Line | Launch soon |
| AVGO Line | Launch soon |
| AMD Line | Launch soon |
| NFLX Line | Launch soon |
| COIN Line | Launch soon |
| HOOD Line | Launch soon |
| MSTR Line | Launch soon |
| PLTR Line | Launch soon |
| SPY Line | Launch soon |
| QQQ Line | Launch soon |
A project that prints a plausible looking address before it has one teaches its readers to stop checking. Every address surface here says "Launch soon" and will say a real address the day there is one, verified on the Robinhood Chain explorer.
From Lines to a place USDG gets routed from
No dates. Each phase ships when it works and when the checks that prove it works are public.
- 01
Lines, credit and the allocator, off chain
The 16 Lines, the credit markets, the scored split and the whole read surface run today against live reference prices. This is what you can use and check right now.
- 02
Contracts on Robinhood Chain
The Line, the router, the keeper and the credit controller deploy with deposit caps, a pause switch and a timelock on every parameter this documentation prints. $HOLD deploys alongside them and the buyback reserve starts spending.
- 03
The allocator takes deposits
One Line that accepts USDG and routes it through the existing paths inside hard limits: a maximum weight per Line, a minimum depth, and a fresh reference price before any move.
- 04
Holders decide the list
$HOLD holders set which Lines the allocator may route into, the weight limits, and how the protocol's share of fees is divided.
The ones worth answering
What do I hold after a deposit?
Shares in one Line. They represent your part of that Line's position and its collected fees, and their value moves with the Stock Token price.
Why is my position smaller than what I deposited?
Only the amount the band can use gets invested. The rest returns to your wallet in the same transaction. Swap fees and price movement between the quote and the fill account for the remainder, and the ticket shows all three before you sign.
What happens when the stock market is closed?
The reference price stops moving. Past 25 hours it stops being usable, so deposits, borrows and USDG exits wait. Redeeming into the underlying tokens works at any hour.
Is the fee rate a forecast?
No. It annualises the fees a Line collected over the window it has been watched, after the protocol's share. A short window makes it a rough figure, and the page says how short.
What does $HOLD do?
25% of every claimed fee is reserved to buy it back and burn it. The contract is not deployed, so the reserve accrues in USDG until it is.
Which wallets work?
Any injected EIP-1193 wallet. Login is wallet only: no email, no password, no social account and no wallet created for you. The site adds Robinhood Chain and switches to it when you connect.
Where can I check the contracts?
Nowhere yet, and the site says so on every surface that would carry an address. When they deploy they will be listed here with links to the Robinhood Chain explorer.