FOLIO combines a stock-collateral stablecoin (Nest), tiered CDP markets with a stability pool (Arrow, Robinhood Chain) and a hourly stock-dividend engine (The Index, Robinhood Chain) — and adds perpetuals margined in the stablecoin.
Each collateral asset is an isolated market with its own LTV, liquidation threshold and debt cap. Deposit collateral, mint fUSD up to collateral × price × LTV. Positions are not cross-collateralized.
debt × 0.03 × Δt / year. Repayments hit accrued fees first, then principal.collateral value × liquidation threshold ÷ debt. Below 1.0 the vault is liquidatable.| Tier | Assets | Max LTV | Liq. threshold |
|---|---|---|---|
| Stable | USDG | 90% | 95% |
| Crypto | ETH | 75% | 82% |
| ETF | SPY, GLD | 55% | 65% |
| Tier 1 | HOOD, NVDA, AAPL, GOOGL, META | 55% | 65% |
| Tier 2 | TSLA, COIN, MSTR | 40% | 52% |
USDG ⇄ fUSD at 1:1, zero fee, no debt created. fUSD → USDG redemption is available while the PSM holds idle USDG. Oracle: the exchange tape (regular and extended hours) for every price, refreshed every 15 s; USDG pinned to $1.
A share token. Deposit fUSD, receive shares at the current price-per-share; the pool accretes toward a 6% APY target, funded from borrower stability fees first and the surplus buffer second. Unstaking burns an exit fee equal to one day of target APR (≈0.016%).
When a vault's health factor drops below 1.0 the stability pool burns fUSD equal to the debt and receives collateral valued at oracle × (1 − 5%), credited pro-rata to depositors. Any remaining collateral returns to the vault owner. If the pool is too shallow the surplus buffer (accumulated fees) absorbs the shortfall.
All protocol revenue — origination, stability, perp taker/liquidation fees — accrues to a pot. At each quarter-hour: 40% buys a tokenized stock at oracle price and is airdropped to $FOLIO holders pro-rata to balance; 30% is added to locked FOLIO liquidity; 30% is allocated to $FOLIO buyback & burn (V2), tallied in fUSD and executed from the treasury at market — the burn is a permanent reduction in circulating supply. Stock rotation: NVDA → AAPL → GOOGL → HOOD → META → SPY. Holder weight is the real $FOLIO balance read on Robinhood Chain (ERC-20 balanceOf, public RPC with failover) for every connected wallet, refreshed every two minutes and on demand. Each epoch pins the chain block and emits a SHA-256 receipt over the payout — see /api/dividends and /api/holder?w=.
rate = clamp(±0.1%, k × (longOI − shortOI)/(longOI + shortOI)); the heavier side pays.Each wallet's real $FOLIO balance (Robinhood Chain balanceOf, refreshed every 2 minutes) maps to a tier by share of total supply. The tier multiplier applies to sfUSD APY, term-lock APY and Season points.
| Tier | Share of supply | Multiplier | sfUSD APY |
|---|---|---|---|
| Paper | — | 1.0× | 6% |
| Bronze | ≥ 0.01% | 1.5× | 9% |
| Silver | ≥ 0.1% | 2.0× | 12% |
| Gold | ≥ 0.5% | 2.5× | 15% |
| Diamond | ≥ 1% | 3.0× | 18% |
Mechanically, sfUSD stays a single share token: a staker's boost above 1× is minted to them as additional sfUSD shares every tick (value × 6% × (mult − 1) × Δt / year), funded from the surplus buffer.
Fixed-term fUSD deposits (min 10 fUSD): 30d 12% · 90d 20% · 180d 30% · 365d 50% base APY × tier multiplier, accrued continuously until maturity. Claim any time after maturity. Early exit returns principal + accrued yield minus a 10% principal penalty, burned (removed from fUSD supply).
Airdrop pool = 5% of $FOLIO supply, split pro-rata to points at season end. Points accrue every 3 seconds: term-locked 3/$/day (×1.3 / 1.6 / 2 for 90 / 180 / 365d), stability pool 2, open debt 1.5, staked 1; perp trades 0.5 per $100 notional; dividends 25 per $ of stock received; daily check-in 10 with a streak bonus of +5%/day to +50%. All points × tier multiplier. Referrals: referee +50, referrer receives 10% of the referee's points in perpetuity (/app?ref=0x…). Endpoints: /api/season?w=, POST /api/lock, /api/unlock, /api/checkin, /api/ref.
The burn share is not fixed. At the top of each epoch the protocol compares the $FOLIO market price (DexScreener, sampled every 5 min) to its 7-day average: share = 30% + 30% × clamp((avg − px) / avg ÷ 20%, 0, 1). At or above the average: 30%. Twenty percent below: 60%. The extra comes out of the LP share (stock airdrop stays 40%). The share used is recorded in each epoch receipt. Live at /proof.
30% of every epoch's revenue plus every early-exit penalty is tallied to the burn ledger (burn.fusd, and burn.folio at the DexScreener market price when available). Visible on the Dividends tab and landing folio card.
Hold streak. Each hourly epoch, every holder’s dividend weight is its $FOLIO balance × (1 + 0.05 × streak), where streak is the number of consecutive epochs the wallet held at least 95% of its previous balance. Capped at 20 epochs, so the weight tops out at 2×. Selling more than 5% between epochs resets the streak to zero. The pot does not change; the split does.
Autofolio. A per-wallet toggle on the Dividends tab. When on, each stock airdrop is deposited straight into that stock’s vault as collateral, 50% of the new borrowing headroom is minted as fUSD (origination fee applies and flows back into the revenue pot), and the minted fUSD is staked to sfUSD at the wallet’s boosted APY. Headroom under $1 deposits only. Off at any time; nothing is locked by it. API: POST /api/auto {wallet, on}; me.streak and me.auto in /api/state.
/proof is the transparency page: treasury balances read from Robinhood Chain, every tx-verified deposit, fees collected vs. stock paid / LP / burn, every block-pinned epoch receipt, the live dynamic-burn meter, and an explicit table of what is on-chain versus protocol ledger. JSON at /api/proof.
The protocol token on Robinhood Chain. Holding it is what earns the hourly stock dividends. Nothing here is financial advice; overcollateralized lending and leveraged trading can lose money.