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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.

Deposits are protected by each borrower's collateral and by per-market caps that limit how much vault liquidity any single stock can absorb.

For borrowers

  1. Choose a market, NVDA, SPY, AAPL, GOOGL, or TSLA.
  2. Supply your Stock Token as collateral.
  3. Borrow USDG up to 77% of your collateral's value (the 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.

Price safety

Every market prices collateral through a guarded oracle rather than trusting a single feed:

  • Two Chainlink feeds are checked on every price; if they diverge beyond tolerance, the market refuses to price new risk.
  • Staleness budgets reject feeds older than policy limits, with relaxed budgets during scheduled exchange closures.
  • Pause protection respects Robinhood's token-level oraclePaused() flag.
  • Conservative pricing returns the lower in-tolerance stock price when stocks are collateral, and the higher one when stocks are the debt, direction-aware caution by construction.

Trading halts, corporate actions, and multiplier changes are treated as explicit states that block new risk while allowing carefully reviewed unwinds.

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.