Garden Web 3
A reading terminal and a proposed collateral vault for Stock Tokens on Robinhood Chain, with the $GARDEN token launched on Pons.
0Abstract
Robinhood Chain brought tokens that track US stocks and ETFs on-chain, tradable around the clock. Each one now trades across dozens of pools that do not always agree on price, and many unrelated tokens copy the same tickers. Garden Web 3 gives every verified Stock Token a single, public reading: how deep its pools are, how much flows through them, who is buying, and how tightly the pools hold one price.
The second half of this paper designs the Garden Vault: a contract system on Robinhood Chain that lets holders deposit Stock Tokens and borrow USDG against them, with limits set by the same readings. The vault is a design in this version. No vault contract is deployed.
$GARDEN is the project token. It launches on the Pons launchpad with a fixed supply of 1,000,000,000, a 3% trade tax, and a 2% team allocation locked for 12 months.
1The problem
On 3 October 2026 we read 13 verified Stock Tokens on Robinhood Chain. Between them they traded in 336 pools holding about $55.7M of liquidity, with about $94.6M of volume in the previous 24 hours. Four things make that market hard to read.
- Many pools, many prices. A single token such as NVDA sits in 30 pools. In our snapshot the gap between the cheapest and dearest pool with at least $10k of liquidity ran from 0.17% (QCOM) to 8.65% (MSFT).
- The exchange closes, the chain does not. NYSE trades 6.5 hours a day on weekdays. Stock Tokens trade every minute of every day, so prices can drift while the underlying market is shut.
- Copycat tickers. At least three unrelated tokens on the chain use the symbol TSLA. Only one is the Stock Token.
- No simple health view. Explorers show transfers and DEX screens show charts, but nothing answers the question a holder asks first: is this market deep and honest enough to trade or borrow against?
2The terminal
Verified registry
The terminal reads only contracts on its verified list. Each address was matched against two independent developer guides and confirmed on-chain to carry the issuer's naming ("Name • Robinhood Token"). New Stock Tokens are added by hand after the same check. Tokens are never discovered by name alone, because names can be copied.
Data
- Pools, prices and trades come from the DexScreener API for chain
robinhood, refreshed every 60 seconds. Price is taken from the deepest pool. Liquidity, volume and trade counts are summed over every pool that holds the token. - Blocks and gas come from the Robinhood Chain JSON-RPC endpoint, read every 2 seconds.
- Market hours follow the NYSE regular session, 09:30 to 16:00 New York time, Monday to Friday. Exchange holidays are not yet included.
Garden Score
Each token gets a score from 0 to 100, built from four readings with fixed weights.
Spread is the gap between the cheapest and dearest pool holding at least $10k, divided by their midpoint. Pools priced more than 25% from the deepest pool are treated as broken and left out. When fewer than two pools qualify, Peg scores half.
| Stage | Score | Reading |
|---|---|---|
| Seed | 0–34 | Listed, barely traded. Not accepted by the vault. |
| Sprout | 35–54 | Trading, still thin or pools disagree. |
| Bloom | 55–74 | A working market with seven-figure liquidity. |
| Grove | 75–100 | Deep, busy and tightly pegged. |
Weeds
Weeds are flags that sit beside the score without changing it.
| Weed | Rule |
|---|---|
| Thin roots | liquidity < $250,000 |
| Pools disagree | spread > 2% |
| Sell pressure | sells > 1.3 × buys, at least 50 sells |
| Sharp move | |24h change| ≥ 5% |
| Off-hours drift | NYSE closed and |24h change| ≥ 2% |
3Garden Vault
The Garden Vault lets a holder deposit verified Stock Tokens as collateral and borrow USDG, the dollar stablecoin native to Robinhood Chain. Lenders supply the USDG and earn the interest borrowers pay. A position that becomes unsafe is partly sold to repay its debt.
Contracts
All contracts deploy on Robinhood Chain (chain ID 4663), first on the public testnet (46630). They are written in Solidity and will be open source and verified on Blockscout.
| Contract | Job |
|---|---|
GardenRegistry | The verified Stock Token list, each token's tier, supply cap and pause flag. |
PriceRouter | Reads a Chainlink feed for each token as the primary price and cross-checks it against a time-weighted DEX price. A gap above 2% blocks new borrowing on that token until it closes. |
MarketClock | Holds the NYSE session schedule. When the exchange is closed, borrow limits for new loans drop by 10 percentage points. |
VaultCore | Deposits, withdrawals, borrowing and repayment. Tracks each position's collateral and debt. |
LendingPool | Takes USDG from lenders, issues a receipt token (gUSDG), and sets the borrow rate from utilization. |
Liquidator | Lets anyone repay part of an unsafe position's debt and receive its collateral plus a tier penalty. |
Treasury and InsuranceFund | Collect the protocol's share of interest. The insurance fund covers bad debt before lenders take a loss. |
Health and liquidation
When health drops below 1.0, a liquidator may repay up to 50% of the debt in one call and receives collateral worth that amount plus the token's penalty. Liquidations run at all hours, including while NYSE is closed, because the vault's debt is in dollars that never close.
Worked example
Using snapshot prices from 3 October 2026, a Saturday, so the off-hours cut applies:
| Line | Value |
|---|---|
| 10 NVDA, 4 SPY (Grove) + 5 AAPL, 2 META (Bloom) | $8,560.84 collateral |
| Borrow limit with the −10 pt off-hours cut | $3,967.79 |
| Loan at 50% of limit | $1,983.90 USDG |
| Health factor | 2.89 |
| Basket can fall before a sale | 65.5% |
| Interest at 7.5% a year | $12.40 a month |
Interest rate
The borrow rate follows pool utilization U (USDG borrowed ÷ USDG supplied), with a kink at 80% to keep cash available for lenders to withdraw.
Stock Token events
Splits, dividends and redemptions are handled by the token issuer. If the issuer pauses a token, GardenRegistry pauses it in the vault: no new deposits or borrowing, while repayment stays open.
4Risk parameters
Limits follow the Garden Score stage of each token, re-read on-chain from GardenRegistry. A token moves tier only through a timelocked update.
| Tier | Max LTV | Liquidation threshold | Penalty | Accepted |
|---|---|---|---|---|
| Grove | 60% | 70% | 6% | From mainnet launch |
| Bloom | 50% | 62% | 8% | From the Grove season |
| Sprout | 35% | 48% | 10% | By holder vote only |
| Seed | — | — | — | Never |
| Global setting | Value |
|---|---|
| Off-hours cut on new borrowing | −10 percentage points |
| Oracle vs DEX deviation that blocks borrowing | 2% |
| Close factor per liquidation | 50% of debt |
| Supply cap per token at launch | $250,000 |
| Timelock on parameter changes | 48 hours |
5$GARDEN token
Launch on Pons
$GARDEN launches on Pons, the token launchpad on Robinhood Chain. On Pons a new token trades on a bonding curve first. When the curve sells out it moves into a Uniswap v4 pool whose liquidity is locked for good. Pons tokens have a fixed supply with no mint function, and Pons charges its own 1% trading fee on top of any tax the creator sets.
| Item | Value |
|---|---|
| Chain | Robinhood Chain |
| Launchpad | Pons (ponsfamily.com) |
| Total supply | 1,000,000,000 $GARDEN |
| Trade tax | 3% on buys and sells |
| Team allocation | 2% · 20,000,000 $GARDEN · locked 12 months |
| Public launch | 98% · 980,000,000 $GARDEN on the curve |
| Contract address | Published on launch day only |
The team allocation is bought at launch and placed in a public lock contract for 12 months. The lock address is published with the token address so anyone can check it.
Use of the 3% tax
| Share | Goes to |
|---|---|
| 1% | Development, data feeds and audits |
| 1% | Seeding the vault InsuranceFund |
| 1% | Community and listings |
What $GARDEN does
- Pro terminal. Holders above a threshold unlock alerts and the Wall Street comparison feed.
- Vault fee discount. Holding $GARDEN lowers the vault's borrow fee once the vault is live.
- Risk votes. Holders vote on which Stock Tokens the vault accepts and at what limits, through the 48-hour timelock.
What $GARDEN is not
$GARDEN is not a Stock Token and does not give any claim on stocks, the vault's revenue or the project. It carries no promise of price or return.
6Roadmap
Dates are targets. An audit that needs more time moves the season after it.
Seed
Terminal live with 13 verified Stock Tokens. $GARDEN launch on Pons with team tokens locked. Whitepaper v0.1 published for comment.
Sprout
Wall Street comparison: on-chain price against the listed stock. Holder alerts. Vault contracts on Robinhood Chain testnet (46630) with a public bug bounty.
Bloom
Two independent audits, reports published. Guarded mainnet launch with Grove collateral only and $250k caps. Chainlink feeds with the DEX cross-check.
Grove
Bloom-tier collateral. New Stock Tokens as they reach the chain. Holder votes on risk parameters.
7Security
- Two independent audits before any mainnet deposit, with reports published in full.
- A public bug bounty from the first testnet deployment.
- All parameter changes pass a 48-hour timelock, visible on-chain before they take effect.
- A pause guardian can stop new deposits and borrowing in an emergency. It cannot move funds or block repayment.
- Guarded launch: low supply caps that rise only after the vault has run without incident.
- Contracts open source and verified on Blockscout.
8Risks
- Smart contract risk. Audits reduce but do not remove the chance of bugs that lose funds.
- Oracle risk. Price feeds can be late or wrong. The DEX cross-check limits but does not remove this.
- Off-hours gaps. When NYSE reopens, a Stock Token can jump to a new price at once. A position can go from safe to liquidated with no time to act.
- Issuer risk. Stock Tokens are debt securities of their issuer, not shares. Their value depends on the issuer meeting its obligations.
- Liquidity risk. Thin pools can make liquidations sell below fair value, leaving bad debt.
- Token risk. $GARDEN can lose all of its value. The 3% tax makes short-term trading costly.
- Regulatory risk. Rules for tokenized securities differ by country and can change.
9Disclaimer
This paper describes a product under development and is not an offer to sell, or a solicitation to buy, any token or security. Nothing here is financial, legal or tax advice. Stock Tokens on Robinhood Chain are tokenized debt securities issued by Robinhood Assets (Jersey) Limited that track US stocks and ETFs. They are not shares, carry no shareholder rights, and are not offered to US persons. Garden Web 3 is independent and not affiliated with Robinhood Markets or Pons.