Make your Stock Tokens pay you every week.
Overwrite is the yield layer for tokenized stocks on Robinhood Chain. Deposit NVDA, TSLA or QQQ, and market makers bid for your upside every week, paying premium in USDG up front. Two auctions a week, including the weekend, which no exchange on earth can sell.
What a week could pay
Model estimate from recent volatility. Real premium is set at auction.NVDA at 55% annualised volatility. Weekday series capped at +8% pays about 0.29%; weekend series capped at +5% pays about 0.28%. Premium is paid up front at auction, and you keep every point of upside to +8% on top of it. Caps are the last auction's strikes, read from the chain.
190+ Stock Tokens trade around the clock on Robinhood Chain. Not one of them wrote a single option. Until now.
Three outcomes. You get paid in all three.
Premium is paid the moment the auction clears, before the week even starts. Whatever the price does after that, it is already yours.
Price drifts
You collect the premium while everyone else waits. This is most weeks, and it compounds: the option expires, the vault writes the next one.
Price rallies
You keep every point of the move up to the cap, plus the premium on top. Set the cap higher when you want more of the run.
Price dips
You still hold every token, and the premium cushions the move. Fully covered, no leverage, no liquidations, ever.
The WRITE loop.
WRITE is the protocol's token. Every arrow below is a rule in the contracts, not a roadmap. Move the slider to see how the vaults and the token pull on each other.
Model. Live after launch.
- Backstop$2.0M
Staked WRITE covers shortfalls. It also sets the ceiling: vaults may hold at most 5 times this.
- Vault capacity$10.0M
Depositors fill it with Stock Tokens. This model assumes 75% of the cap is used.
- Premium written each week$53k
At an average 0.7% a week. Depositors keep 90%; the protocol keeps 10% as its fee.
- WRITE burned and bonded$1.6k a week
Fees paid in WRITE get a discount, so most are; half of that WRITE is burned. Market makers each bond $50k of WRITE to bid: $250k locked.
Less supply, more locked, a larger backstop. Next week's ceiling is higher, and the loop runs again. About $82k of WRITE burned a year at this size, with 5 market makers bonded.
One token, every lever
WRITE sets the caps, bonds the market makers and curators, and takes the fees at a discount. Demand for it is written into the contracts, not into a marketing plan. No revenue share, and none needed.
Two paydays a week.
Stock Tokens trade 24/7. Listed options stop at Friday's close. Overwrite sells the weekend as its own series, premium no other venue can collect.
| Series | Auction | Expires | Settles on | Default cap |
|---|---|---|---|---|
| Weekday | Monday 14:00 UTC, 15 minutes | Friday at the New York close | Chainlink price feed | +8% above spot |
| Weekend | Friday, 10 minutes after the close | Sunday 23:59 UTC | Chainlink, with Uniswap TWAP fallback | +5% above spot |
Vaults.
One vault per Stock Token, fully covered, no leverage. Capacity is set by the backstop and grows as more WRITE is staked, so the vaults you see are the ones filling first.
| Vault | Est. weekly premium | Annualised | Caps, weekday / weekend | Deposits | |
|---|---|---|---|---|---|
| NVDANVIDIA Stock Token | 0.54% | 28% | +8.25% / +5% | 80% of cap | Deposit |
| TSLATesla Stock Token | 1.20% | 63% | +8% / +5% | — | Soon |
| GMEGameStop Stock Token | 0.40% | 21% | +8% / +5% | — | Soon |
| QQQInvesco QQQ Stock Token | 0.42% | 22% | +3% / +1% | — | Soon |
| SPYSPDR S&P 500 Stock Token | 0.24% | 12% | +3.25% / +1% | 79% of cap | Deposit |
Market makers compete for your upside.
Every week, bonded market makers bid against each other for the right to buy your upside. It is a batch auction: the vault fills the highest bids first, and every winner pays the same clearing price. More bidders, higher premium.
Bids are escrowed in USDG before the auction clears, so the money is in the vault the moment it ends. Premium first, options second.
The vault sets a floor from live volatility. Your upside never goes cheap: if the bids are not there, the vault simply keeps it and sells it next week.
Settlement runs on the official Chainlink feed for each Stock Token, entirely on-chain. Nothing is ever sold on an exchange to settle.
Capacity fills in order. Get in line.
The first vaults open with the first backstop. Leave an address and you will know the moment the first auction clears, with the premium it paid.