Note Systems

The private bank's last product, unbundled. Fully collateralised, no liquidations.

[Note Systems @notesystems]

Introducing Swap.

A market for tokenized stocks that starts from the real price, not the ratio between two pools.

195 stocks and ETFs against USDG, powered by S-DAMM, a market maker built for tokenized equities.

Live on Robinhood Chain testnet. https://t.co/dXQkRVcNKw

[Note Systems @notesystems]

Your Coupon position can do more than... just wait for coupons.

Borrow USDG against it in Credit, built on @Morpho, and it keeps earning the coupon while you do.

– Get USDG without selling or exiting your note
– Put it to work: take another note, swap a stock, or cover what you need
– Your coupons keep coming the whole time

@longbowlend will accept note positions as collateral too, at mainnet.

[Note Systems @notesystems]

Every structured note had a bank in the middle.

Not because banks invented the payoff, but because someone had to hold the promise, find the other side, keep score, pay out and reach buyers.

Note Systems does each job on-chain, on Robinhood Chain. https://t.co/QV2j1z8Il8

[Note Systems @notesystems]

11,500+ wallets have taken part in the Note Systems pre-season.

Four weeks in:

– 10,800+ active in week 4
– 4,600+ in the Desk, 1,100+ in Build vaults, 690+ in Credit
– 96 series struck
– 20M+ $USDG matched

Thousands are already in. Join them on Robinhood Chain testnet.

[Note Systems @notesystems]

Your first note, in four steps:

– Pick one of eight stocks, from $NVDA and $TSLA to $HOOD
– Choose a side: COUPON to earn a weekly coupon on your $USDG, or SHIELD to protect a stock you already hold
– Drag the closing price in the Scenario Explorer to see what you’d get in every outcome, before you commit
– Enter an amount, check the terms and sign

The minimum is 10 $USDG. Try it on Robinhood Chain testnet via the link in bio.

[Note Systems @notesystems]

Thank you for building this with us!

Next up: the audit being completed, and the road to mainnet.

Explore: https://t.co/qJAASNPdOV.

11/11

[Note Systems @notesystems]

And a thread with a breakdown for every kind of user.

Seven seven starting points, from earning on $USDG to building your own product.

10/11
https://t.co/SJbWtjNNA9

[Note Systems @notesystems]

Note Systems covers a lot of ground now, so here’s the short version: who it’s for, and where you’d start.

Seven kinds of users, seven starting points.

1/9

[Note Systems @notesystems]

Then we put it all in one place: Note Systems, explained.

All twelve products in one post: how you can earn, protect, trade, borrow and build with tokenized stocks, and how it all fits together.

9/11
https://t.co/RTC2Q2ItZy

[Note Systems @notesystems]

Banks built structured notes. We built the whole layer around them.

Note Systems is the tokenized equities layer on Robinhood Chain: twelve products to earn, protect, trade, borrow and build. Here’s all of it, explained.

[1] Markets – put your stocks and USDG to work

– Notes. Earn a weekly coupon on your $USDG, or protect a stock you already hold against a fall. Pick a stock, pick a side, and see every outcome before you commit

– Swap & Vaults. Buy and sell 195 tokenized stocks and ETFs at the real market price, with every cost shown up front. Or put a stock or $USDG to work and earn fees from the trading

– Portfolio. See every position, coupon and claim in one place, and export it whenever you need to

– Desk. A shared $USDG pool that earns coupons by stepping in when there aren’t enough coupon buyers, within published limits. For anyone who wants coupon income without picking a stock or a series themselves

[2] Protocol – what you can do with NOTE

– Stake. Stake $NOTE and receive the $NOTE that 90% of protocol fees buy back, streamed to stakers over seven days

– Buyback. 90% of every protocol fee buys $NOTE back through a rising-price auction and passes it to stakers. The other 10% builds Treasury reserves

– Bonds. Get $NOTE at a fixed price, released to you over time

– Governance. Lock $NOTE to vote on how the protocol runs and where rewards go

[3] Explore – take it further

– Credit. Need $USDG without giving up a coupon position? Borrow against it in a @Morpho or @longbowlend market and keep earning the coupon. Both sides of every note are standard ERC-1155 tokens, so any protocol can hold, lend against or trade them

– Omni. Take your note positions to other chains and back, starting with @arbitrum. Robinhood Chain holds $140M+ of tokenized stocks, out of $3b+ across all chains. Omni lets your positions reach the rest

– Analytics. Check every number yourself, read straight from the chain

– Build. Run a wallet, app or treasury? Offer notes and vaults to your users in a few contract calls with our SDK, and earn up to half the vault fees on every deposit you bring, paid on-chain

[·] How it fits together

Protect your $NVDA or $TSLA while someone else earns the coupon on it. Borrow against that coupon position, take it to another chain, and track all of it in one place. Buy the stock you want on Swap, or put it in a Swap vault to earn trading fees. And most of every fee along the way flows back to $NOTE stakers.

[·] Where it stands

All of the above is live on Robinhood Chain testnet, where 10,000+ people have already used it.

The @cyfrin backend audit is in the final stages of completion, with mainnet launch to follow afterwards.

[Note Systems @notesystems]

We joined @MCGlive.

A full segment: how notes work in plain terms, a $TSLA trade from both sides, where fees go and where the audit stands.

5/11
https://t.co/AeXA4rH0Mw

[Note Systems @notesystems]

Thanks @MCGlive for having us yesterday!

What we covered, plus a sneak peek at a new product:

– What structured notes are, and how autocallable barrier notes work in plain terms
– A live demo and walkthrough of the app
– When a trader would reach for a note, with a worked $TSLA trade
– Where fees go: 90% buys back $NOTE for stakers
– How notes plug into the rest of the stack: borrow against a leg with Credit (powered by @Morpho), move it across chains with Omni (powered by @LayerZero_Core), and our partnership with @longbowlend for notes as collateral at mainnet
– More about the team, and how the @cyfrin audit is going: no high or critical findings, nearly there
– A first look at what we’re launching next, built for tokenized stock holders

Full segment below.

[Note Systems @notesystems]

We introduced Swap

A market for 195 tokenized stocks and ETFs, priced from the real market by S-DAMM.

– Every cost shown before you sign
– Provide liquidity with one asset: a stock, $USDG or the Backstop
– Wider quotes when markets close

8/11
https://t.co/74AjVcpydp

[Note Systems @notesystems]

Introducing Swap.

A market for tokenized stocks that starts from the real price, not the ratio between two pools.

195 stocks and ETFs against USDG, powered by S-DAMM, a market maker built for tokenized equities.

Live on Robinhood Chain testnet. https://t.co/dXQkRVcNKw

[Note Systems @notesystems]

We introduced Build.

Any wallet, app or treasury can now offer structured notes and vaults inside its own product, and earn a share of the vault fees on the deposits it brings.

4/11
https://t.co/PaeGG4ur4i

[Note Systems @notesystems]

Introducing Build.

Structured notes can now live inside any wallet, app or treasury: as a savings balance, next to a stock you hold, or as collateral in a lending market.

Whoever brings the deposits earns up to half of the fees, paid on-chain. https://t.co/29nxpBYIOb

[Note Systems @notesystems]

Our @cyfrin front-end review is complete.

The report is public. The backend contract audit is in progress, with positive findings so far – and mainnet follows once it’s done.

3/11
https://t.co/33cIb6DQYp

[Note Systems @notesystems]

Our frontend audit with @cyfrin is complete.

No critical or high findings, and all 7 medium findings resolved.

Report: https://t.co/d6XkR3Cp18

Our backend audit is in progress. Across 75 smart contracts, no high or critical issues found.

Mainnet is getting closer.

[Note Systems @notesystems]

Pre-season is live.

A weekly points pool across Note Systems. The more products you use in a week, the more that week counts, and Swap now has its own stream and quests.

2/11
https://t.co/psprvfbFsX

[Note Systems @notesystems]

Note Systems pre-season is live.

Since testnet opened on 5 September, 5,000+ people have already used the protocol on Robinhood Chain. Season 0 closed on 1 October and its standings are now frozen.

The pre-season runs on the final testnet build until mainnet, which is getting closer. Our frontend audit with @cyfrin is complete, and our backend audit is in progress with no high or critical issues found across 75 smart contracts.

The pre-season keeps its own record and rewards breadth: the more of the protocol a wallet uses in a week, the larger its share.

How it works:

– Each week, a points pool (2M in week 1) is split across 12 streams, one for every part of the protocol. Note issuance carries 30%, fees paid 15% and the Desk 12%. Bonds, Credit, staking, Build vaults, Omnichain, the buyback auction, governance and quests share the rest.

– Inside each stream, points are split in proportion to your activity. For notes, that's your matched size, how long it's live and the barrier you pick.

– Your week is then scaled by how many apps you used: 1× for one, up to 2× for five or more.

– A quiet stream pays out only part of its budget. The rest rolls into the same stream next week.

– 16 quests are also live, one completion each per wallet, verified on-chain and weighted ×1 to ×5.

Your Season 0 and pre-season records both carry into the mainnet season under the same wallet.

Learn more & join in here: https://t.co/gBGNfLrXza

[Note Systems @notesystems]

A quick recap of what’s been happening at Note Systems over the last few weeks.

A new season, two new products, a live segment, 10,000+ users and a whole new Note Systems.

Here is the short version – with links to learn more.

1/11

[Note Systems @notesystems]

It’s Sunday. The stock market is shut, but tokenized stocks still trade on-chain.

Here’s how Swap handles it:

– In market hours, quotes are tightest, anchored to a live price
– When the market is closed, quotes widen to reflect that nobody knows where Monday opens, instead of trading on a stale price
– At the open, everything is marked back to the real price
– If you provide stock liquidity, you choose: Regular steps back an hour before every close, Continuous keeps earning through it

Swap is live on Robinhood Chain testnet – try it yourself.

[Note Systems @notesystems]

Introducing Swap.

A market for tokenized stocks that starts from the real price, not the ratio between two pools.

195 stocks and ETFs against USDG, powered by S-DAMM, a market maker built for tokenized equities.

Live on Robinhood Chain testnet. https://t.co/dXQkRVcNKw

[Note Systems @notesystems]

Pick the line that sounds like you and start there.

Nearly every product earns pre-season points from the community reward program, and using more of them in a week counts for more.

Explore: https://t.co/qJAASNPdOV

9/9

[Note Systems @notesystems]

Note Systems covers a lot of ground now, so here’s the short version: who it’s for, and where you’d start.

Seven kinds of users, seven starting points.

1/9

[Note Systems @notesystems]

On another chain? Omni, powered by @LayerZero_Core, moves note positions to @arbitrum (and other chains in the future) and back.

Building a wallet, app or treasury? Build lets you offer notes and vaults inside your own product.

8/9