quie

a dark pool for tokenized equities on @RobinhoodCrypto sealed orders, midpoint crossing, nothing leaked before a fill. no book. no queue. only the toll.

[quie @quiedotsh]

$60B says anyone can trade here.

next question: can anyone trade a stock here without being read first?

sealed orders for tokenized stocks, crossed at the mid.

https://t.co/8Ngafj4XiR

soon on @RobinhoodCrypto

[quie @quiedotsh]

$60B says anyone can trade here.

next question: can anyone trade a stock here without being read first?

sealed orders for tokenized stocks, crossed at the mid.

https://t.co/8Ngafj4XiR

soon on @RobinhoodCrypto

[Pons @ponsdotfamily]

Robinhood Chain just passed $60B cumulative DEX volume

Pons has accounted for ~$14B in volume, powered by @uniswap v4

We're growing the pie and building towards a future where all markets are accessible by anyone, no matter their location, background, or income.

[quie @quiedotsh]

we removed price from the order.

you don't say what you'll pay. you say which public mids you'll accept. every fill in a round happens at the same one.

nothing to signal. nothing to shade.

soon on @RobinhoodCrypto

[quie @quiedotsh]

we removed price from the order.

you don't say what you'll pay. you say which public mids you'll accept. every fill in a round happens at the same one.

nothing to signal. nothing to shade.

soon on @RobinhoodCrypto

[quie @quiedotsh]

a long one. what a sealed commitment hides, where your balance gives you away, and a four-line checklist that fixes it.

built on @RobinhoodCrypto https://t.co/AAG5dcLg77

[quie @quiedotsh]

a long one. what a sealed commitment hides, where your balance gives you away, and a four-line checklist that fixes it.

built on @RobinhoodCrypto https://t.co/AAG5dcLg77

[quie @quiedotsh]

you want to buy 10,000 TSLAx.

here's what happens to that order on a visible book, and what happens to it on https://t.co/8Ngafj4XiR.

same order. two venues.

soon on @RobinhoodCrypto

[quie @quiedotsh]

devnet is live: https://t.co/2RLLkWK1zJ

TSLAx, SPYx, NVDAx. the other side is our own quoter for now, and it's labeled.

built on @RobinhoodCrypto

[quie @quiedotsh]

you want to buy 10,000 TSLAx.

here's what happens to that order on a visible book, and what happens to it on https://t.co/8Ngafj4XiR.

same order. two venues.

soon on @RobinhoodCrypto

[quie @quiedotsh]

what this doesn't do:

you get the mid, not better. escrow size and timing leak an upper bound. the committee sees orders to cross them; that's bounded to one round and logged.

full list: https://t.co/hfBOCBglvp

[quie @quiedotsh]

equities learned this decades ago: large orders don't go on the lit book. they go where no one can read them.

tokenized stocks brought the share on-chain and left that part behind.

https://t.co/8Ngafj4XiR is that part.

soon on @RobinhoodCrypto

[quie @quiedotsh]

equities learned this decades ago: large orders don't go on the lit book. they go where no one can read them.

tokenized stocks brought the share on-chain and left that part behind.

https://t.co/8Ngafj4XiR is that part.

soon on @RobinhoodCrypto

[quie @quiedotsh]

a tokenized stock is the same share with a worse market.

same company, same price off-chain. but on-chain the book is thinner, the quotes are staler, and every order is public before it fills.

the asset got upgraded. the venue didn't.

soon on @RobinhoodCrypto

[quie @quiedotsh]

a tokenized stock is the same share with a worse market.

same company, same price off-chain. but on-chain the book is thinner, the quotes are staler, and every order is public before it fills.

the asset got upgraded. the venue didn't.

soon on @RobinhoodCrypto

[quie @quiedotsh]

most venues promise to hide your order for a while.

https://t.co/8Ngafj4XiR: if it doesn't fill, it's never revealed. not to the chain, not to us, not later.

soon on @RobinhoodCrypto

[quie @quiedotsh]

most venues promise to hide your order for a while.

https://t.co/8Ngafj4XiR: if it doesn't fill, it's never revealed. not to the chain, not to us, not later.

soon on @RobinhoodCrypto