Documentation
Venues find the price.
Verity makes the trade settle.
Verity makes the trade settle.
Verity
The clearing layer of Robinhood Chain
Tokenization is limited
not by venues,
but by frozen capital.
not by venues,
but by frozen capital.
To settle atomically, both sides must hold the
full asset at the moment of the trade. Capital sits
idle against every position, and market size is
bounded by capital, not by demand.
full asset at the moment of the trade. Capital sits
idle against every position, and market size is
bounded by capital, not by demand.
DvP decides who owes whom.
We decide where the money comes from.
We decide where the money comes from.
Verity sits beneath the venues. A trade arrives
already matched, and we carry it to finality.
already matched, and we carry it to finality.
Atomicity without prefunding.
The right to clear volume is
granted against collateral,
not against full prefunding.
Capital works instead of guarding a position.
Clearing.
granted against collateral,
not against full prefunding.
Capital works instead of guarding a position.
Clearing.
Clearing
At the center of Verity is the clearing loop.
It takes a matched trade, becomes the counterparty to both sides, and carries settlement through to finality.
It takes a matched trade, becomes the counterparty to both sides, and carries settlement through to finality.
You no longer trade with a stranger.
You trade with collateral.
You trade with collateral.
Novation
Verity breaks the trade and rewrites it onto itself. Everyone faces one counterparty, and it is collateralized.
Collateral
The right to clear volume is granted against collateral, not against full prefunding of the trade.
Netting
Offsetting obligations collapse across the whole settlement window. The same turnover, a fraction of the capital movement.
Clearing
Settlement is private.
Solvency is not.
You trade with collateral.
Solvency is not.
You trade with collateral.
Collateral
covers
obligations
continuously.
How it workscovers
obligations
continuously.
Mechanics
01 Default waterfall
A default is absorbed in layers, not dumped on the market. The order is fixed in advance: the defaulter’s margin, their contribution to the default fund, the protocol insurance layer, the mutualized fund of the remaining members, and only then an auction.
02 For venues and desks
DEXs, RFQ desks and credit markets connect to clearing and stop holding capital against every position. We sit beneath the venues, not against them.
03 Why Robinhood Chain
Behind the chain stands a broker with real retail flow and real equities in custody. A tokenized asset there rests on a genuine underlying.
Token
The token is a share
of clearing turnover.
of clearing turnover.
Collateral.
Assumed risk.
A share of the flow.
Assumed risk.
A share of the flow.
Clearing members stake for position limits. A larger stake means more volume, with slashing on default.
Part of the stake sits in the default fund. Holders earn fees precisely because they carry tail risk.
Fees are taken in the settlement asset, not in the token. Price tracks clearing turnover, not holder count.
Integration
There will be many venues.
There is one clearing house.
Robinhood Chain brings real assets. We bring what lets
them trade at size. Chain ID 4663.
There is one clearing house.
Robinhood Chain brings real assets. We bring what lets
them trade at size. Chain ID 4663.
