Liquidity
The protocol's positions in the existing SPY, NVDA, TSLA and GOOGL pools, and where their fees go.
Where the liquidity leg puts its capital
The SPY, NVDA, TSLA and GOOGL markets already exist on Robinhood Chain as stock / USDG pools, and they trade whether or not this protocol is in them. The liquidity leg does not open a market of its own: it buys into those, one full-range position per pool, and the treasury contract holds each position from the first block.
The leg buys the stock side with the same Chainlink-guarded route the payout leg uses, pairs it with USDG, and opens or increases its position. The protocol is one liquidity provider among the others in each pool. It does not operate them, it cannot pause them, and it has no say over who else provides liquidity there.
These are public pools, so there is nothing exclusive about reaching them: they are listed on Delta among other front ends, and a position is the same position whichever one opens it. Delta is an independent management layer over Uniswap v3 and v4 on this chain, neither a partner of this protocol nor endorsed by it; the link is at the foot of this guide.
Why these pools
Robinhood Chain carries both Uniswaps: a Uniswap v3 deployment and the canonical Uniswap v4 one. The deepest stock / USDG market is on one or the other depending on the stock, so the leg joins whichever holds the depth rather than favouring a venue. Capital goes where the trading already is, instead of into a market that would have to be built first. Which venue a pool is on is shown on its page, and it changes how the pool is identified: Uniswap v3 pools are contracts with an address, while a Uniswap v4 pool lives inside one singleton and is named by the hash of its key.
A position on either venue is an NFT a contract can own, fund, harvest and, in an emergency, unwind through calls the treasury already makes. That is what lets the treasury hold the position itself instead of trusting a wallet with it. Each pool's fee tier is a property of the pool, not a choice the protocol makes: the tier shown on a pool page is the tier that pool was created with.
Who owns what
The protocol’s position NFT is held by the treasury contract, and no call can transfer or burn it, so the liquidity inside is reachable only through the treasury’s own functions. The keeper is an operator that can buy, pair, harvest and fund epochs, and nothing else.
The pool itself belongs to nobody. It existed before the protocol joined it and would go on trading if the protocol left. What the protocol owns is one position in it, and the pool pages show the two figures side by side: the whole pool’s depth, and the protocol’s share of it.
| Owner | Capital | Fees |
|---|---|---|
| Protocol | The liquidity share of the treasury split, a fixed share of what the protocol receives | Both sides are collected to the fee wallet, an address the owner controls |
| You | Both tokens from your own wallet | Yours, collected through the position manager, never counted by the protocol |
| Everyone else | Their own capital, on their own terms | Theirs; the protocol sees none of it and counts none of it |
The emergency exit
The authority can withdraw liquidity from a pool at any time, in part or in full. There is no delay, no timelock and no pause requirement, and it keeps working while the protocol is paused. It is there for the case the protocol cannot wait out: a pool exploited, a stock issuer pausing or blocking balances, a market collapsing. An exit that stopped working the moment the protocol was paused would be no exit at all.
What comes back can only land in the treasury contract itself. The stock and the $OMNIA return to the treasury and are booked as returned principal rather than fee income, and epoch funding may only move stock the ledger marks as payable, so liquidity taken back out of a pool cannot be paid out as holder rewards. Withdrawn stock reaches ETH only through the same Chainlink price guard the buys use, run in reverse.
Taking value out of the protocol is unchanged. The recovery calls remain the only paths to an outside address, each requires seven days of continuous public pause, and each can pay only the governance owner. An emptied position stays open, so a market can be refilled if the emergency passes. What this costs you is stated plainly in the risk guide: the authority can stand the protocol down, and holders rely on it not doing so without cause.
What you are trusting →Which pool gets the next capital
Every pool in the table trades today. What arrives in order is the protocol’s position in each: the treasury adopts a pool, then the leg funds it, gated on a per-asset daily cap rather than on a date. New capital is directed to whichever adopted pool sits furthest below its target. There is no automatic rebalancing or liquidation. Daily caps are counted in UTC days, so the most the keeper can spend across a midnight is two days’ caps back to back.
A pool page shows a dash for the protocol’s position, with "no position yet", until the leg opens one. The pool’s own figures, its depth and its fees, are read and shown throughout: they do not depend on the protocol.
| Step | Pool | Share of new liquidity capital |
|---|---|---|
| 1 | SPY / USDG | 40% |
| 2 | NVDA / USDG | 25% |
| 3 | TSLA / USDG | 20% |
| 4 | GOOGL / USDG | 15% |
How a pool is adopted
The owner names an existing pool by address, and the treasury reads that pool’s own tokens and fee tier from the pool itself rather than taking them from the caller. Nothing is resolved by name. From then on the treasury can open and fund one full-range position there, and hold the NFT from the first block, so there is never a moment when a wallet owns it.
Anyone else can add their own liquidity to the same pool at any time, through the position manager, whether or not the protocol has adopted it. Those NFTs are theirs, and adoption changes nothing about them.
Where the fees go
Every fee the protocol’s positions earn, both sides of every pair, is collected to one wallet. That wallet is an ordinary address the owner controls, outside the protocol: the balance is not held by any contract, nothing pays it out automatically, and the owner can spend it. The owner intends to distribute it to holders later. That is a stated intention, not something the contracts enforce, so do not count it as owed to you.
It is not the holder payout either. The payouts you can claim come from the fee the launch pool charges, bought into stocks every epoch and committed to a Merkle root on chain, which is a claim the contracts do enforce.
- Pool income requires real swaps by third parties. Trading between protocol addresses is not revenue and is reported separately when it happens.
- Arbitrage pays fees, but a position can lose value to the arbitrageur. Fee income and inventory loss are reported side by side.
- Fee income is read off the pool’s own fee counters at four points over the last day, weighted by the liquidity that was in the pool at the time. Volume is derived exactly from those fees and the tier, or not shown. It is never estimated.