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Overview

Raven is a tokenized-equity credit market on Morpho, live on Robinhood Chain. Tokenized stocks, NVDA, SPY, AAPL, GOOGL, and TSLA, collateralize USDG loans, and USDG depositors earn yield from that borrowing demand.

Robinhood Stock Tokens are ERC-20 debt securities issued by Robinhood Assets (Jersey) Limited. They provide economic exposure to referenced shares and ETFs without conveying ownership rights in the underlying securities.

Why Raven

  • Real-world collateral, onchain rails. Robinhood Stock Tokens are canonical ERC-20s on Robinhood Chain, and Raven turns them into productive collateral.
  • Guarded prices. Every market uses an immutable oracle that validates two Chainlink proxy paths, feed freshness, token pause state, and a 5% consistency bound.
  • Isolated risk. Each stock backs its own market. Positions are never cross-margined, so risk stays contained per asset.
  • Morpho, not a fork. Raven uses the existing permissionless Morpho deployment with a curated allocation layer on top.

v1 scope

  • Five collateral markets. NVDA, SPY, AAPL, GOOGL, and TSLA, each with one isolated USDG lending market at a 77% liquidation LLTV.
  • One lender vault. A single USDG vault (rUSDG) supplies liquidity across all five markets.

Each market's loan asset, collateral asset, oracle, IRM, and LLTV are fixed at creation, giving every market a predictable and transparent onchain configuration.

Current status

The five markets and the rUSDG vault went live on 2026-08-19.

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