Stocks

Pair your coin with Apple, NVIDIA, Tesla or the S&P 500. It trades against the real stock's price, and everyone still pays in S.

No tokenized stock is native to Sonic, so the stock desk brings Robinhood's own stock tokens over from Robinhood Chain, through LayerZero.

What you can pair with

Every stock coin the desk lists appears on the Stocks page and under Stocks in the launch form's pair-asset step: xAAPL (Apple), xNVDA (NVIDIA), xTSLA (Tesla), xGOOGL (Alphabet), xSPY (S&P 500 ETF) and the rest. The Stocks page shows each one's live price, its spread and how it is backed.

How it works

You pay S ──► stock desk ──► xAAPL ──► your coin's pool ──► your coin
                 │  sells xAAPL at Apple's live price
                 ▼
       the S, in escrow ──► the bot buys real AAPL on Robinhood Chain
                                       │
                                       ▼
                        bridged to the desk: xAAPL is backed 1 for 1

For you and your traders, it is one transaction in S. Buying a coin paired with a stock: the desk turns the S into xAAPL at Apple's price, and the coin's Uniswap V3 pool turns that into the coin. Selling does the same in reverse and pays out S. Nobody has to hold, bridge or even see the stock coin.

Launching against a stock with a dev buy paid in S takes two signatures: the desk sells you the stock coin, then the launch spends it as its dev buy.

What xAAPL is

A stock coin on Sonic, worth one share's worth of Robinhood's own tokenized Apple stock (AAPL on Robinhood Chain). Only the desk can create it, and every unit is backed by either:

• the real stock, bridged from Robinhood Chain and held by the desk — the bulk of it; or
• S in the desk's escrow, on its way to becoming the stock, or waiting to pay a seller.

Anyone can redeem xAAPL for the bridged Robinhood token, one for one, with no price involved.

Where the price comes from

Every trade through the desk carries a price signed at that moment, valid for one minute:

The dollar price is turned into S with live exchange prices (Coinbase and Kraken), checked against Chainlink's S/USD feed on Sonic.

What it costs

• The desk's spread, each way, set per stock and shown on the Stocks page. It stays in the desk to pay for bridging and for the trades on Robinhood Chain.
• Your coin's own fee, unchanged: charged by the pool and split like any launch. On a stock-paired coin, buys pay it in the stock coin and sells pay it in your coin.

How the backing is kept

A settlement bot watches every stock. After buys, once enough S has built up in escrow, it bridges it to Robinhood Chain, buys the real stock and sends it back to the desk. After sells, it does the reverse. It works in tranches rather than after every trade, and how much can be waiting on it is capped per stock, so the desk never runs far ahead of its backing. Supply, backing, escrow and what is owed are public on the desk contract, and on the Stocks page.

Good to know

• Not available in the United States, Canada, the United Kingdom or Switzerland, where Robinhood's stock tokens are not offered.
• Robinhood can pause its tokens. While one is paused, bridging it waits; nothing is lost.
• Your first sale of a stock-paired coin asks for a one-time approval of the stock router.