Proof of reserves · USDG and Robinhood Stock Tokens · Robinhood Chain
The custodian commits what it owes on-chain, reserves are read straight from its wallets, and anyone can check their own balance. A lending market adds one modifier, onlySolvent(asset), and new borrowing stops the moment the proof fails. Repaying and exiting never do.
On Robinhood Chain mainnet today
Stock tokens on Morpho
$158.3M
total supply of 50 issuer-listed stock and ETF tokens
USDG in circulation
675.5M
Paxos dollar stablecoin
Lent against stocks
745K USDG
167 Morpho markets · 675K borrowed
Reserve-proof oracles
None
113 of 167 oracles read price feeds only; 54 unclassified
Live demo
Last published
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mTSLA coverage
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min(samples, live) · required ≥ —
Scene 1 of 5
A reserve wallet can back only one custodian. Trying to count the same wallet for a second custodian is rejected on-chain, so reserves can't be double-counted.
Price safety is not reserve safety
| Price oracle | ReserveProof | |
|---|---|---|
| Question it answers | Is this price right, fresh and from the right source? | Does the custodian still hold what it owes, and will it pay people who exit? |
| What it catches | A stale or wrong price feed, a closed market, a price that moves too far too fast | Reserves drained (LIVE_SHORT), a proof left to go STALE, liabilities understated (user fraud proofs, DISPUTED), an unanswered balance challenge, an unpaid exit claim (EXIT_DEFAULT), a stock split the liability book hasn't caught up with (MULTIPLIER_DRIFT) |
| Blind spot | A perfectly priced token whose custodian has already sold the stock behind it | Whether the price itself is right: it forwards whatever the base oracle says |
| On Morpho | Is the market's oracle | Wraps the market's existing oracle and gates it |
Question it answers
Price oracle
Is this price right, fresh and from the right source?
ReserveProof
Does the custodian still hold what it owes, and will it pay people who exit?
What it catches
Price oracle
A stale or wrong price feed, a closed market, a price that moves too far too fast
ReserveProof
Reserves drained (LIVE_SHORT), a proof left to go STALE, liabilities understated (user fraud proofs, DISPUTED), an unanswered balance challenge, an unpaid exit claim (EXIT_DEFAULT), a stock split the liability book hasn't caught up with (MULTIPLIER_DRIFT)
Blind spot
Price oracle
A perfectly priced token whose custodian has already sold the stock behind it
ReserveProof
Whether the price itself is right: it forwards whatever the base oracle says
On Morpho
Price oracle
Is the market's oracle
ReserveProof
Wraps the market's existing oracle and gates it
One constructor: the market's price oracle becomes the base, ReserveProof gates it.
new SolvencyGatedMorphoOracle(
priceOracle, // base price from the market's existing oracle
solvencyOracle, custodianId, TSLA,
72 hours, 6 hours, 5000 // freeze cap, poke gap, 50% price after the cap
);See it fail closed: the what-if simulator on the live contracts · npm run demo:morpho-fork against the real Morpho Blue on a mainnet fork · curator risk: which gated markets would freeze, and when · mainnet radar: every live Morpho market marked would gate, wouldn't, or copycat
Explore
Tests, verified source, both chains' proofs, the fork drill: each claim with its evidence and a command to reproduce it.
Every Morpho market on Robinhood Chain, marked would gate, wouldn't, or copycat.
What would freeze, and when: coverage against the floor, time to stale, open disputes, per gated market.
Proof health on both testnets, the 3-day publisher and the hourly watchtower.