Lightbringer

Multi-chain collateralized smart lending for stocks, metals, oil and tokens. Available on Robinhood Chain, Solana and Arc.

[Lightbringer @lightlending]

Lightbringer's stock splitting is now live on Solana.

Anchor Program and addresses below.

1. Splitter:
4e1MeFRWfGB8RUpPn7rYqMVtmrqAQDzb7ScxMtGBDfbq

→ The program to split a tokenized stock on Solana. Splits, merges, claims, redemptions and Lightbringer's Solana dividend desk.

2. Dividend trackers:

→ SPYx: 784WhFwY4zg27H8RTB1t7YuHwHSsabSE1V8Komoh8zAe

→ QQQx: 7xLKEb7ha8yd6KU8TPqPPH4yWrbyyHy8wa3S2vUzNArW

→ AAPLx: Gb2UR3PqLVV6KYysXbM2WENawDPyHrZSKydgQujNc3mc

→ MSFTx: HH3C6tgRrxQxWB9XoZxTYGkEkCB5x7jmfqPCXGHomNSY

→ GOOGLx: A3cNN3KvcKqHf2cbmeaRh3Eg3FoWEBjcHVayJ463NMuu

→ NVDAx: CS5if1bhYLA4o6cS4LxcfazAh5S1vgjoRe43Js6YLwCj

→ Each watches its stock's multiplier and records which moves are dividends and which are stock splits, so a 2-for-1 is never paid out as income. A change that is neither is held for review, with a public two-day delay before it can be applied.

3. Lightbringer's first series: SPYx, March 31, 2027:
D4Sh3H295TddKc736bSmW7L22NupzXw3huD9dnxCY6Ho

→ The series itself: the stock and the maturity. It mints both tokens, holds the vault, and caps the series at 25 SPYx to start.

4. Lightbringer's PT-SPYx-MAR27 (principal token):
4jgsStR93CVcESFVrrRQxiDdft2jMa3vAaQdXThTfVhn

→ Redeems for SPYx at maturity. Shows up in wallets as its own token.

5. Lightbringer's YT-SPYx-MAR27 (yield token):
6V5VEFDXcWtWfbsLdbx2UjXKRoozX6KbyzSqbAEULbLV

→ Collects dividends as Backed pays them, claimable at any time. Sending it settles both sides inside the transfer, so what you earned before selling stays yours.

6. Lightbringer's SPYx Vault: 98eAXTZoZZt2ayzv6pceP7pYAkUTwbrRzEGQv9vmFJys

→ Holds every SPYx deposited into the series. A principal token plus a dividend token comes back out as stock at any time, before or after maturity, with no price, no keeper and nobody's permission.

7. Transfer-hook account list:
9C3gtRknmiGR4EKXcpXZZVMYifnZwjPJzrwk2xUzaJcV

→ What Solana hands the program on every send of a dividend token, so settlement happens inside the transfer itself.

We can now expand the series concurrently on both Robinhood Chain and Solana to include more assets.

We're now integrating this module and its Robinhood Chain counterpart into the platform.

[Lightbringer @lightlending]

Here's what the dates mean on each of the Lightbringer series.

Split a stock and you get two tokens: the principal and the dividends. The date is where the split ends.

Every dividend the stock pays before that date belongs to the dividend token and not at the end. Each one is claimable the moment it lands.

The principal token is that same stock without those dividends. At maturity it redeems one for one back into the stock held in the vault.

After the date the index freezes. Anything paid later belongs to whoever redeems the stock.

Hold both halves and you can merge them back into the stock at any time. The date only matters while you're holding one half on its own.

Our first series on both chains is SPY, 31 March 2027, about two quarterly dividends.

Longer ones are next. Same stock, same machinery, a date further out: deposit the same SPY into a series running a year or two years and the dividend token carries every payment until then. Four, six and more.

The same stock can go into whichever series you like, so you choose how long a dividend strip you want to hold. Then sell it, lend it, borrow against it, or just claim the payments as they arrive.

https://t.co/mgwSWJm2IK

[Lightbringer @lightlending]

We'll be deploying our Anchor program on Solana momentarily which will include:

→ Our dividend index— this reads each xStock's multiplier directly from the token with the same rules as our Robinhood Chain splitting contract.

→ Split, merge, claim and redeem capability— same as our Robinhood Chain contract.

→ Our Solana dividend desk— similar to our Robinhood Chain contract.

This will be an entirely new Anchor program and will not be an upgrade to our current Anchor program that contains our syndicate loaning capabilities and other desks.

After we get this program deployed on Solana, we'll be folding everything regarding this new pipeline (splitting and utilizing each component individually or together) into the platform with a new UI for it.

[Lightbringer @lightlending]

@wishful_tourist Hi @wishful_tourist, what do you mean by this? Everything is working from our end on both the platform and the landing page. If you're having an issue, we can fix it, just let us know!

[Lightbringer @lightlending]

Asset splitting is coming to Solana.

We're upgrading our Solana Anchor program to match what's live on Robinhood Chain. Deposit an xStock and get two tokens back:

1. Principal token: the share's value, redeemable for the stock at maturity.

2. Dividend token: every dividend until maturity. Claim it as it pays out, or sell it on the dividend desk for cash today.

Merge them back into the stock any time. Dividends, splits and reverse splits are tracked on-chain automatically.

We'll be actively expanding our split series over the next 24 hours, both on Robinhood Chain and Solana, to include more dividend strips and split assets.

We've built the necessary UI modules for the new splitting functionality & the split asset crediting capability and will fold that into the current platform shortly.

[Lightbringer @lightlending]

The split-to-lend pipeline within Lightbringer is a singular component for a much larger ecosystem: the on-chain credit layer for tokenized equities.

Splitting a stock into principal and dividends is one way in. The product is the five credit markets it feeds:

1. Lending pools: lenders set the rate, term and which stocks they accept. Borrowers post shares and take stablecoins.

2. Syndicates: many funders behind one lending book, run by a lead. Returns are paid out pro rata.

3. Sell & buy back (repo): sell shares for cash and buy them back at a fixed price on a set date. The price in between can't trigger a sale.

4. Securities lending: lend out idle shares for a fee. Borrowers post 102% of the shares' value in cash.

5. Dividend desk: sell future dividends for cash today, at a price a buyer bids.

All five share the same price feeds, collateral limits, weekend and market-hours rules, and position tracking.

Live now:

→ Lending pools, syndicates, repo and securities lending on Solana and Robinhood Chain

→ The splitter, the dividend index and the dividend desk on Robinhood Chain mainnet

The full map is below.

[Lightbringer @lightlending]

@26ands Hi @26ands, splitting the asset is just functionality for a much bigger credit layer. The product isn't the split, the product is utilizing the split beyond just holding two different assets (PT + YT).

Splitting is solely a component for a much larger platform.

[Lightbringer @lightlending]

Lightbringer's stock splitting contracts have been deployed on Robinhood Chain.

1. Split contract:
0xdEaf26eE6bD370C4Ab82a76c6fEC5635995Ed58E

→ This contract is where users deposit their tokenized asset and get the two collateral tokens (the principal token and the yield token) in return.

2. Dividend tracker:
0x232fC5cD50179066565590abb1339b9736dD1703

→ This watches the included assets and records which changes to the deposited assets are dividends and which are splits. The split contract reads from this.

3. Dividend desk:
0x54c1993FB820ef181de7d335710fBdafd07A2519

→ This is where buyers can post cash offers for dividend tokens and holders sell into them.

4. Lightbringer's PT-SPY-MAR27 (principal token):
0x996185b355DE5C5CC33EBf7681f2f121A2B5EDB4

→ The first principal token in our series. The principal token itself that shows up in wallets.

5. Lightbringer's YT-SPY-MAR27 (dividend token):
0xB43A4382704AB46c6e6C9C1780E5C4C9B3D1Ed89

→ The first yield token in our series. The dividend accrual token that also shows up in wallets.

We're actively expanding the series currently and building out the frontend capability to fold into our current loaning and borrowing architecture.

[Lightbringer @lightlending]

Our asset splitting contract will be deployed on Robinhood soon with the dividend desk following not long after.

[Lightbringer @lightlending]

The split-to-lend pipeline in its entirety and what the new tokenization structure now enables at Lightbringer.

Tokenized stocks can now be used in more ways than one due to their inherent composability on-chain for the first time ever within the space.

After splitting an asset into its principal and yield tokens, each one carries individual and unique use-cases while retaining their usability as a singular asset.

Dividend strip trading. Self-paying loaning. Cross-chain interoperability and so much more.

Coming soon to Lightbringer.

https://t.co/yf08jqFTKu

[Lightbringer @lightlending]

The split-to-lend pipeline in its entirety and what the new tokenization structure now enables at Lightbringer.

Tokenized stocks can now be used in more ways than one due to their inherent composability on-chain for the first time ever within the space.

After splitting an asset into its principal and yield tokens, each one carries individual and unique use-cases while retaining their usability as a singular asset.

Dividend strip trading. Self-paying loaning. Cross-chain interoperability and so much more.

Coming soon to Lightbringer.

https://t.co/yf08jqFTKu

[Lightbringer @lightlending]

Split one tokenized stock into two collateralized assets and use them eight different ways with Lightbringer.

New TAMs, new market primitives, new on-chain crediting and lending structures.

Coming soon.

[Lightbringer @lightlending]

Composability is coming to on-chain credit.

The doors are opening to a completely new TAM in the form of collateralized dividend strips via token splitting, individualized principal versus yield collateral, and so much more!

We're nearing completion on the architecture involved for this product.

[Lightbringer @lightlending]

Next up: a completely new lending primitive on-chain.

Split a stock into its principal token (PT) and its yield token (YT).

Each one as its own composable asset— loan out your dividend strip for cash upfront while retaining the upside to the underlying stock in the form of the principal token.

This is something we've been incredibly passionate about the past 2 months while conceptualizing what a true on-chain credit and lending layer would look like and how it would align with where the space is moving.

Dividend traders are a very concentrated TAM that had no plausible venue for their skills on-chain until now and thanks to the increasing prevalence of tokenized stocks, we're finally able to create not only the venue for that type of market, but we're able to expand upon the split in many more unique ways that brings true composability to the credit layer we're building.

Stay tuned.

[Lightbringer @lightlending]

Next up: a completely new lending primitive on-chain.

Split a stock into its principal token (PT) and its yield token (YT).

Each one as its own composable asset— loan out your dividend strip for cash upfront while retaining the upside to the underlying stock in the form of the principal token.

This is something we've been incredibly passionate about the past 2 months while conceptualizing what a true on-chain credit and lending layer would look like and how it would align with where the space is moving.

Dividend traders are a very concentrated TAM that had no plausible venue for their skills on-chain until now and thanks to the increasing prevalence of tokenized stocks, we're finally able to create not only the venue for that type of market, but we're able to expand upon the split in many more unique ways that brings true composability to the credit layer we're building.

Stay tuned.

[Lightbringer @lightlending]

Repo loaning capability is now live on Lightbringer for both Solana and Robinhood Chain.

Repo loans can be succinctly described: sell your stock. Buy it back at a price you agreed today.

There are currently two ways to get cash out of a position you do not want to close, with each of them having their pitfalls.

1. You sell it flat out. If you have conviction on something but need temporary liquidity, this can quickly turn stressful if it begins running without you. With the popularity of social trading as well, this becomes a much bigger problem as copytraders see the sell and quickly move to follow your actions as well.

2. You borrow against it. While this does carry its benefits, it also carries its pitfalls: you're scouting a health factor to ensure the liquidation engine does not catch you on a volatile move.

There is a third structure that is now available onchain. It has been the plumbing of institutional finance for over half a century. It's called a repurchase agreement or a repo.

That structure is now available on both Solana and Robinhood Chain.

What actually is a repo loan?

You sell your shares right now for cash, at a discount to what they're worth, say 95 cents on the dollar.

At the same moment, the price to buy them back is written down and locked. One number is fixed the second the trade opens. You have a window, anywhere from a day to a year dependent upon the offered cash terms.

If you pay, you get the same shares plus any split or dividend that landed while they were away.

If you do not pay, the buyer keeps the shares. That's the entirety of the consequence. No liquidation, no penalty fee, no keeper or auction.

Why this structure matters onchain specifically

Whether liquidation cascades due to volatility, oracle risks or corporate actions, there are a lot of factors in play that are not directly involved in repo loaning and safety is an inherent mechanism within the architecture of a repo loan. Binary outcomes are better than a constant overhead risk.

This is the initial groundwork and rails for the much larger goal of becoming an offramp for social trading positions without affecting the overall opinion of followers.

[Lightbringer @lightlending]

We've deployed our repo loan upgrade on Solana!

Anchor program ID:
JCZ2v9o5j1YzB5HfoiXWEUruvjP2PgjLWcHjKvXP8JBx

We're currently wiring everything to the frontend and will have an explanatory post about the benefits of a repo loan versus conventional credit loans soon.

After we wrap up the final repo loan development work, we finally get into the fun stuff: splitting a tokenized stock into its principal token and yield token and being able to use either one as individualized collateral or both to create an industry-first self-repaying loan.

[Lightbringer @lightlending]

We're waiting on you, @DinariGlobal!

[Dinari @DinariGlobal]

Bringing tokenized stocks to @Arc.

Each dShare™ by Dinari comes with: a backing security held with licensed custodians, cash dividends, automated corporate actions and the right to redeem at NBBO.

dShares™ are stocks.

[Lightbringer @lightlending]

@ChillTRD @0xx_Hammy We'd love to hop on @MCGlive and talk about the current gaps in the market, the future of a chain-enforced composable credit layer, and a lot more!

[Lightbringer @lightlending]

Lightbringer's repo loans contract has been deployed on Robinhood Chain.

Address:
0x78987709937FD06fd77Af02330bA0cC9B1D51BCe

The Solana Anchor program upgrade is now in progress and will be deployed shortly.

[Lightbringer @lightlending]

Lightbringer's V2 platform has been deployed.

The user flow is now much more direct and informational at every step for both lenders and borrowers on both Solana and Robinhood Chain.

https://t.co/JZdSgJWDPn

[Lightbringer @lightlending]

With the increasing popularity of social trading comes the caveat of being unable to properly liquidate large uPNL positions without causing a cataclysmic domino effect.

One sell from a large account on a social trading platform, regardless of how small or large that sell may be, inherently carries a negative connotation where others immediately follow suit and begin selling.

With Lightbringer's composable lending and borrowing layer, users will soon be able to utilize their positions as collateral in a syndicated pool for cash without having to sell their position and without causing immense panic and fear for their followers.

A composable lending and borrowing layer was always the missing factor in the current landscape.