Understand
the risks.
Borrowing against market exposure adds risk. Read these disclosures alongside the protocol documentation.
Collateral & liquidation
Collateral prices can fall sharply. Positions at or below their market-specific liquidation ratio can be liquidated, with a 5% bonus paid from the collateral entirely to the liquidator. n100 takes no liquidation fee. A market gap, limited liquidity, or delayed liquidation can leave outstanding debt even after collateral is exhausted.
Tokenized exposure
Robinhood Stock Tokens are tokenised debt securities issued by Robinhood Assets (Jersey) Limited. They provide economic exposure to an underlying security, not direct ownership of underlying shares or ETF units or shareholder rights. Issuer, custody, redemption, transfer, and corporate-action risks apply. Eligibility and jurisdiction restrictions may prevent you from acquiring or using the underlying tokens.
nUSD & liquidity
nUSD is an experimental collateral-backed token. The MVP values one nUSD at $1 for debt accounting, but does not promise price stability, cash redemption, deposit protection, or available trading liquidity. nUSD can lose its peg. All nine markets share nUSD. A loss in any market can weaken its backing even when your own position is healthy. The MVP includes no funded reserve or bad-debt recovery mechanism.
Oracles & closed markets
Incorrect, stale, unavailable, or manipulated prices can affect your position. Underlying markets do not trade continuously even when the chain is operating. Stale prices, corporate actions, and sequencer interruptions can halt borrowing, debt-backed withdrawals, and liquidation. A price gap when updates resume may immediately make a position liquidatable.
Smart contracts & network
This MVP has not been independently audited. Contract defects, malicious integrations, wallet compromise, network outages, reorganization, or failure of supporting services can cause loss or prevent access. Passing automated tests is not a security audit.
Stake & Earn · Coming soon
Staking is not available through the website yet. The test contracts stake USDG, with optional n100 to increase reward weight. The agreed trading-fee split sends 60% to staking rewards, 30% to buy n100 for the treasury, and 10% to the treasury as USDG. Purchased n100 is not locked or burned. Staking has no additional protocol fee. Rewards depend on funding and competing stake weights; a boost is not a guaranteed return. Incorrect or stale n100 prices can distort reward shares. Demo balances and mock assets do not earn real rewards.
Administration · existing nUSD prototype
Protocol settings and the oracle adapter are governed by an administrator that supports multisig ownership. Parameter changes can affect existing positions. An emergency pause blocks borrowing, withdrawals, and liquidation, while deposits and repayments remain open. Production needs reviewed governance, monitoring, and response procedures.
Administration · upcoming USDG and staking stack
The wallet 0x79Ac176C3Fa54dB2D8c99EA05cC97748e6354816 is configured as deployer, admin, guardian and treasury. It can upgrade all four core contracts immediately with no governance delay. An upgrade could change fund access, token behavior and accounting protections; these are not immutable guarantees. A compromised admin wallet or harmful upgrade can cause loss. The emergency pause stops deposits, withdrawals, staking exits, claims and fee routing, while repayments and valid liquidations remain open. The admin can resume immediately. This stack is test-only and is not connected to the website yet.
n100 is an independent project and is not affiliated with or endorsed by Nasdaq, Invesco, or Robinhood. This material describes an experimental product and is not personal investment advice.
Source: Robinhood Stock Tokens and oracle documentation. Refer to the issuer’s current terms for product rights and restrictions.
Read the protocol documentation →