Keep the paper. Draw the ETH.

A money-market desk on Robinhood Chain.

Why this exists

The paper is on-chain. The cash was not.

Robinhood Chain listed US stocks and ETFs as ERC-20s. The paper is on-chain — but there was no way to raise ETH without selling the listing. Selling NVDA to make dry powder is the old exit.

On-chain money markets still want crypto as collateral. Brokerage margin still lives off-chain. Tokenized equity sat in wallets like a trophy: listed, transferable, and useless as a borrowing base.

Jidon is the desk that treats those ERC-20s as Paper. Pledge the paper and Draw ETH, or Post ETH and earn the Borrow rate. The Cut is ETH, paid to one Vault, on the first Step. You do not sell.

  1. 01

    Listed

    The ERC-20 already exists. NVDA, TSLA, SPY — paper that the chain can custody.

  2. 02

    Illiquid

    No ETH desk against that paper. Selling the listing was the only exit.

  3. 03

    The joint

    Pledge. Draw. Post. The Cut is ETH, to one Vault, on the first Step.

You do not sell.

Robinhood Chain · 4663 · ETH

How the desk works

Listing, Book, Step.

Three cubes. One staircase. Markets go up by adding cubes.

Pledge
Draw
Post

Pledge

Pledge the Paper

Lock NVDA, TSLA, or SPY as collateral. The listing stays yours — labeled, never sold.

Listing → The Book → Step

The Book

Paper against ETH.

Feed, Factor, Borrow rate, Book yield. Numbers are facts.

PaperKindBorrowYieldDepth
NVDANVIDIA
Stock8.40%6.20%486.0 ETH
AAPLApple
Stock7.20%5.40%418.6 ETH
SPYSPDR S&P 500 ETF Trust
ETF6.50%4.90%1,240.0 ETH
QQQInvesco QQQ
ETF6.70%5.00%864.0 ETH

24 listings on the desk

Open The Book

Desk numbers. Not a live Feed.

Jidon does not trade the paper.

Jidon does not ask you to sell.

Jidon takes the Step and releases the ETH.

Horizon

Three cubes.

The roadmap is the mark, extended.

The First Cube

This build

Threshold, Seat, and The Book on Robinhood Chain. NVDA, TSLA, SPY as Paper against ETH. First Step pays the Cut to the Vault.

The Wider Book

Not this build

More Listings, a thicker ETH book. The same staircase — still no sale of Paper.

The Third Cube

Not this build

A second cash leg if the Desk opens it. Still a money market against listed equity. Not a trading venue.