> For the complete documentation index, see [llms.txt](https://robindog.gitbook.io/robindog-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://robindog.gitbook.io/robindog-docs/13-phased-integration-of-stock-tokens.md). # 13 Phased integration of stock tokens Stock Tokens are central to RobinDog’s planned connection between company events and tradable asset exposure. A user may begin with a question about earnings, a product launch, or a business milestone, then choose how to express that view: through an event prediction, a conditional price-outcome market, or a combination that includes a separate asset position. Robinhood Stock Tokens are issued by Robinhood Assets (Jersey) Limited as tokenized debt securities. They provide exposure to a referenced stock or ETF without conveying ownership of the underlying security or shareholder rights. See the [Robinhood Stock Tokens documentation](https://docs.robinhood.com/chain/stock-tokens/). #### Phase 1: Company Events and Asset Price Predictions The initial focus is on prediction markets around company earnings, product launches, business milestones, Stock Token prices, and relative performance. Stock Story Pages and Story Trees connect these markets with relevant evidence and subsequent developments. Markets will primarily trade and settle in USDG. At this stage, a prediction about a stock or Stock Token remains a prediction position. It does not automatically provide exposure to holding that asset. #### Phase 2: Conditional Impact Markets and Asset Positions When price data, liquidity, execution infrastructure, and risk controls meet the required standards, RobinDog plans to introduce: * Conditional Impact Markets for defined price outcomes following company events. * Narrative Combo Positions combining predictions with separately funded asset positions. * Price-range, relative-performance, and event-window markets. This phase is intended to let users combine a company-event prediction with exposure to a related asset’s price movement. Each supported asset position will identify its instrument, execution venue, costs, access conditions, and operating rules. A long position may involve holding a Stock Token or using another supported instrument; a short position requires a suitable borrowing or derivative mechanism. #### Phase 3: Stock Tokens as Collateral and Settlement Assets After further technical and risk validation, RobinDog may explore Stock Token collateral, outcome shares denominated in Stock Tokens, redemption into Stock Tokens, conversion between Stock Tokens and USDG, and capped-risk directional markets operated by RobinDog. These structures differ from the separately funded combinations in Phase 2. Their design must specify how changes in collateral value, event losses, and settlement obligations affect the user’s holdings. Using Stock Tokens as prediction collateral should not be interpreted as retaining an untouched stock position while receiving additional prediction exposure from the same capital. #### Price and Corporate Action Handling Across all phases, RobinDog must account for stock splits, dividend-related adjustments, trading halts, delistings, and asset migrations. Price sources must be interpreted consistently. Robinhood’s documentation distinguishes raw underlying-equity prices from multiplier-adjusted onchain values; integrations must avoid applying the same adjustment twice. See the [Stock Token API documentation](https://docs.robinhood.com/chain/stock-token-apis/). Implementation will depend on reliable data, sufficient liquidity, security validation, and applicable access requirements. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://robindog.gitbook.io/robindog-docs/13-phased-integration-of-stock-tokens.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.