StockFount

StockFount docs

Overview

StockFount runs managed liquidity for Equity Tokens on Robinhood Chain. Each Fount holds one Equity Token / USDG position on Uniswap v4. You sink USDG, the Fount earns swap fees from traders, and 70% of those fees compound back into the Fount. The other 30% is spent buying $FOUNT and burning it.

Every contract is open source and verified. There are no off-chain valuations: Held Value, share prices and exit amounts are all computed on-chain from Chainlink prices.

Founts

  • Sinking into a Fount. Deposit USDG and receive Fount shares (ERC-4626). Your shares are your portion of the Fount's Held Value.
  • Ranges. A keeper places the Fount's balances in a concentrated range around the Chainlink price and re-ranges when price moves. Rebalances revert if the price is stale or the pool has drifted more than 2% from the oracle.
  • USDG exits. withdraw/redeem pull your slice of the range and sell Equity Token for USDG. The swap must clear within 1% of the oracle price, and you pay that cost, not the holders who stay.
  • In-kind exits. redeemInKind returns your share of Equity Token and USDG with no swap and no price check. It works while paused, over weekends, and during oracle outages.
  • Caps. Each Fount has a Held Value cap. Launch Founts open at $25,000 each and rise only through the timelock.

Fees, drawdown and retire

Swap fees are collected on every sink, exit and rebalance, and whenever anyone calls harvest.

  • 70% stays in the Fount and raises the value of every share.
  • 30% goes to the FeeRouter, which forwards all of it to DrawdownRetire. That contract swaps the fees into $FOUNT through registered pools, subject to per-run limits and a minimum interval, then burns the $FOUNT in the same transaction. It has no withdrawal function.
  • Pointing the FeeRouter anywhere else requires a public 48-hour delay.

Prices and market hours

Equity Token prices come from Chainlink feeds that follow US market hours: 24 hours a day, five days a week, with a 24-hour heartbeat. A price counts as fresh for up to 26 hours. StockFount also checks the USDG/USD feed and the Equity Token's corporate-action flag.

When a price is not usable, deposits, USDG exits and rebalances pause automatically. In-kind exits stay open.

A price is not usable when any of these hold:

  • Stale. The feed has not updated within its maximum age.
  • Out of bounds. The answer is outside the feed's sanity band, set at deployment to a tenth and ten times the launch price. USDG must stay between $0.95 and $1.05.
  • Circuit breaker. The answer moved more than 15% from the feed's previous round and is less than 30 minutes old. Once it has stood for 30 minutes it is used. The limits can be tuned through the timelock, within 1–50% and 5 minutes to 1 day, but the breaker can never be turned off.
  • Corporate action or sequencer outage. The Equity Token reports a split or dividend in progress, or the L2 sequencer is down.

The Safety page shows each Fount's price status live.

Governance and safety

  • Admin is a 48-hour OpenZeppelin timelock controlled by a multisig. Only the admin can unpause, raise caps, or change fees, risk limits, feeds and pools. Every contract checks at deployment that its admin is such a timelock and refuses to deploy otherwise.
  • Deployer holds nothing. It cannot propose, execute or cancel on the timelock, holds no role, and owns no contract. Every setting is passed in at construction, so there is never a moment where the deployer controls a contract. scripts/verify.js proves this on-chain for any deployment.
  • Guardian is a separate multisig. It can pause, lower caps and halt drawdowns. It cannot unpause, raise limits or move funds.
  • Keeper rebalances and runs drawdowns within on-chain limits.
  • No contract has a function that lets any role take user funds. A malicious change would still need 48 hours in public, which is enough time to exit in kind.

Glossary

Fount
A managed Equity Token / USDG liquidity vault, for example the AMD Fount.
Equity Token
A tokenized debt security on Robinhood Chain that tracks a stock or ETF.
Sinking into a Fount
Depositing USDG into a Fount.
Held Value
The total USDG value of a Fount's assets at the oracle price.
Yield Rate
Recent fee income to Fount holders, annualized. Historical, not a forecast.
Circuit breaker
The oracle rule that holds a price which jumped too far between two Chainlink rounds.
Drawdown and retire
Spending the protocol fee share on $FOUNT and burning it.
$FOUNT
StockFount's fixed-supply token, launched on the Pons launchpad. Its supply only falls.