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How It Works

Raven connects two sides of the market: depositors who supply USDG, and borrowers who post tokenized stocks as collateral to borrow USDG.

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For depositors

  1. Deposit USDG into the rUSDG vault and receive vault shares.
  2. The vault's curated allocation lends that USDG across the five Stock Token markets.
  3. Borrowers pay interest on their loans. That interest flows back into the vault and accrues to every depositor pro rata.
  4. Withdraw at any time for the amount of liquidity currently available in the vault.

Borrower collateralization and per-market caps provide two complementary layers of risk management for vault allocations.

For borrowers

  1. Choose a market, NVDA, SPY, AAPL, GOOGL, or TSLA.
  2. Supply your Stock Token as collateral.
  3. Borrow USDG while maintaining a buffer below the market's 77% liquidation LLTV.
  4. Repay the loan (plus accrued interest) to withdraw your collateral.

Each market is fully isolated. Collateral posted in one market can never be used against debt in another, so liquidation risk is contained per asset.

Oracle safeguards

Enforced onchain

  • Two Chainlink proxy paths are compared on every price and must remain within a 5% consistency bound.
  • Freshness and round validation check feed age, timestamps, and positive answers.
  • Pause protection respects Robinhood's token-level oraclePaused() flag.
  • Conservative pricing uses the lower in-tolerance stock price for collateral valuation.

Monitored offchain

Raven also monitors market sessions, trading halts, corporate actions, and multiplier changes to inform interface status and operational reviews.

Positions are not cross-margined

Raven intentionally avoids cross-margining. Health is evaluated per position, per asset. This keeps risk legible: what you owe, what backs it, and where liquidation stands are always visible in one place.