Protocol
Settlement
Cash legs settle in USDC. Physically settled contracts deliver the share in the same block. Every position is an NFT.
Settlement happens on Robinhood Chain, where the stocks, the vaults and the settlement currency all live.
The three rules#
- Cash legs settle in USDC.
- Physically settled contracts deliver the tokenized share in the same block as exercise. See Instant exercise.
- Position NFTs. Every open option is an NFT, so it can be transferred, sold or gifted before expiry. See Position NFTs.
Perpetuals#
Perpetual options have no expiry. The buyer pays a continuous funding rate to the writer until the holder closes or exercises the position.
Priority settlement#
Priority settlement is part of the Pro tier.