What is and is not built
The unhedged vault is written and unaudited. The hedged vault does not exist, and Phase 0 rejected the three pairs this project started from.
Nothing is deployed on Robinhood Chain. No addresses are pinned, no contract has been audited, and the keeper does not exist.
The hedged vault is not reachable
On chain, hedgeAvailable() is a constant false and answers false for every pair. Both hedged
paths revert HedgedVaultNotDeployed.
So the hedged components are reachable at all, a single pair in this app returns true from a UI fixture — not from the contract. Every hedged figure behind that toggle is invented.
In the vault list, the hedge ratio, floor/attested NAV, queue and next-epoch columns describe the
hedged wrapper only. They read — wherever it does not exist, which on chain is everywhere. An
em-dash rather than a zero is deliberate: a zero queue and no queue are different facts.
Phase 0 rejected all three named pairs
| Pair | Verdict |
|---|---|
| HOOD | No registered stock token — the HOOD/USDG pools trade an unregistered synthetic tracker. |
| MSTR | Registered token and a paying pool, but no Lighter RH perp to hedge against. |
| AMC | Both legs exist, but the perp does $47K/24h — a ~$1,880 vault ceiling. |
Eighteen of 194 registered tokens are hedgeable at all, and three pool bars cleared on a 15-minute window. No pair has been shown to be profitable. See how the fee APR is computed for why the cleared figures should not be read as returns.
Open questions
Deposit pricing is not settled. First-deposit donation, the absence of a minShares guard, and a
value-space mint against a quantity-space redeem are all open in docs/decisions.md. Share counts
quoted in the deposit panel are indicative.