TICKER SUMMER DOCS

01 · overviewVaults and lending for Stock Tokens

Ticker Summer runs one vault per Stock Token. You deposit USDG, the vault provides concentrated liquidity in the USDG / Stock Token pool on Uniswap v3 and earns the trading fees of that pool. Next to every vault sits a lending market where USDG can be supplied for interest or borrowed against vault shares.

Deposits, withdrawals, rebalances and loans are transactions from your wallet to the contracts. No server holds funds.

Chain

Robinhood Chain mainnet, chain id 4663

Deposit asset

USDG

Markets

AAPL, AMD, AMZN, CRCL, GME, GOOGL, INTC, META, MSFT, MSTR, MU, NVDA, PLTR, QQQ, SNDK, SPCX, SPY, TSLA

Pools

Uniswap v3 USDG / Stock Token pools on Robinhood Chain

Prices

Chainlink Stock Token feeds on Robinhood Chain

Custody

the vault and lending contracts themselves

Audit

not audited

02 · vaultsWhat happens to your USDG

A deposit is one transaction. The vault works out how much of your USDG the current range needs as Stock Token, swaps that part inside the pool, adds the result as liquidity and mints shares for the value that actually arrived.

├── value before     everything the vault holds, at the Chainlink price
├── value added      value after your deposit minus value before
├── shares           total shares × value added ÷ value before
├── first deposit    1e12 shares per USDG unit, 0.001 USDG of shares locked forever
├── your guard       the page sets minimum shares at 96% of the estimate
├── vault guard      value added must be at least 97.5% of the USDG sent

Deposits open only while the pool price sits inside the range, the Chainlink price is fresh and the pool agrees with Chainlink within 1%. After the swap the pool must still be within 2% of Chainlink.

03 · valuationNever the spot price

Shares are valued with Chainlink. The vault takes its position, works out the token amounts it would hold at the Chainlink price rather than at the pool price, adds idle balances and values the lot in USDG. Moving the pool does not move the share price.

USDG

valued at $1

Fresh price

updated within the feed heartbeat: 24 hours, 6 hours for GME

Stale price

deposits, rebalances, compounding, borrowing, unpledging and liquidations wait

Always open

withdrawals, supplying and repaying

Unclaimed pool fees

not counted until harvested

04 · keeping it earningFollowing the price

The first deposit centres a range on the current price. When price leaves it, the range stops earning, so any wallet may recentre it. The call pulls the liquidity, collects fees, swaps to the new ratio and adds liquidity around the current price.

├── when               the pool price is outside the range
├── how often          once every 2 hours per vault
├── Chainlink check    pool within 1% of the Chainlink price
├── TWAP check         current tick within 100 ticks of the 30 minute average
├── loss limit         value after at least 97.5% of value before
├── compound           hourly while in range: harvest and put idle balances back to work, same checks

├── SPY                               ±6%
├── QQQ                               ±8%
├── AAPL AMZN GOOGL META MSFT NVDA    ±12.7%
├── AMD GME INTC MU PLTR SPCX TSLA    ±19.7%
├── CRCL MSTR SNDK                    ±24.6%

05 · exitsOut at any hour

Withdrawing burns shares for the same slice of the position and of the idle balances. It needs no price feed and no pool check, so it works on weekends and when the market is closed.

USDG + Stock Token

pro-rata amounts, no swap

USDG only

the Stock Token part is sold in the pool; the page asks for at least 97% of the preview

Fees

none

06 · split70 · 10 · 20

Every harvest splits the trading fees the vault collected. The split is fixed in the contract.

70%

stays in the vault for share holders and is reinvested at the next compound or rebalance

10%

protocol treasury

20%

reserved for the $SUMMER buyback

Lending interest

10% of all interest goes to the buyback wallet

Deposit, withdrawal or management fees

none

Anyone can send the collected protocol and buyback shares to their wallets with one call per vault or market.

07 · usdg marketsBorrow against your shares

Each vault has its own lending market with its own USDG. Suppliers earn the interest borrowers pay. Borrowers pledge vault shares, which keep earning inside the vault, and borrow USDG against them.

Collateral value

vault shares × Chainlink share price × 97%

Max loan-to-value

40%

Liquidation threshold

55%

Minimum debt

1 USDG

Borrow APR

2% + 8% × U ÷ 80% up to 80% utilization, then +90% × (U − 80%) ÷ 20%

Deposit APR

borrow APR × utilization × 90%

Reserve

10% of interest, sent to the buyback

08 · riskWhen a loan goes under

├── health factor          collateral value × 55% ÷ debt
├── liquidatable           health factor below 1
├── repay per call         up to 50% of the debt, all of it below 0.90
├── liquidator receives    vault shares worth the repayment + 5%
├── redeem                 shares can be redeemed to USDG in the same transaction
├── bad debt               if collateral runs out, the rest of the debt comes out of the reserve first, then suppliers

The lending page lists every borrower of a market with a health factor, and anyone can liquidate from there.

09 · controlWhat the owner can and cannot do

Can

pause new deposits, pause new borrowing, change a range width for the next rebalance, set the pool-price check between 0.1% and 3% and the swap loss limit between 0.1% and 5%, set the treasury and buyback wallets, transfer ownership

Cannot

move deposits, pause withdrawals or repayments, change the fee split, change lending parameters, upgrade contracts

10 · onchainThree contracts

SummerHub creates a SummerVault and a SummerLend for each Stock Token as EIP-1167 clones, so every market runs the same code. The vault talks to the Uniswap v3 pool directly through the mint and swap callbacks, with no router or NFT in between.

SummerHub

clones, fee recipients, ownership

SummerVault

ERC-20 shares, liquidity, rebalancing, fee split

SummerLend

supply, pledge, borrow, repay, liquidate

Compiler

solc 0.8, optimizer 200, via IR

Tests

run against a fork of Robinhood Chain mainnet with the real USDG, Stock Tokens, pools and Chainlink feeds

Source

contracts/src in the site repository

11 · tokenThe token

Ticker Summer is a token on Robinhood Chain, launched through Pons. There is one contract, it lives in config.js on GitHub, and the site reads it from there.

Chain

Robinhood Chain, EVM

Launchpad

Pons

Ticker

$SUMMER

Buyback

20% of vault fees and 10% of lending interest

12 · questionsQuestions