Glossary
The vocabulary of tokenized-stock dislocations, in plain terms.
- Basis point (bps)
- One hundredth of a percent. 100 bps = 1%.
- Discount
- When a stock token trades below its reference fair value — it is 'cheap'.
- Dislocation
- A gap between a tokenized stock's on-chain pool price and its reference fair value, measured in basis points.
- Monday Snapback
- The weekly report of the biggest weekend premiums and where they snapped to when the oracle reopened.
- Multiplier
- An adjustment applied to a stock token's oracle price to handle splits, dividends and other corporate actions.
- Oracle
- An on-chain price feed. For stock tokens, a Chainlink feed of the underlying equity, updating during market hours.
- Oracle freeze
- When the Chainlink stock feed stops updating outside market hours while the pools keep trading.
- Perp
- A perpetual future — a 24/7 derivative tracking an asset's price with no expiry.
- Pool
- A Uniswap v4 liquidity pool where a token trades on Robinhood Chain.
- Premium
- When a stock token trades above its reference fair value — it is 'rich'.
- Reg S
- A US securities exemption for offerings made outside the US. Stock tokens are Reg S and not available to US persons.
- Robinhood Chain
- An Arbitrum-Orbit L2 (chain id 4663) launched in 2026 for tokenized US equities.
- Runner
- A newly launched token breaking out on early trade velocity.
- Spread
- A pool's bid-ask width in basis points — the cost of crossing it.
- Stock token
- A tokenized US equity on Robinhood Chain that trades 24/7 and tracks a stock's price.
- Structural dislocation
- A premium measured against a reference that may be stale, like a frozen weekend oracle.
- Tradable dislocation
- A premium measured against a live 24/7 reference like an equity perp — something you could actually act on.
- Uniswap v4
- The DEX layer of Robinhood Chain — a singleton PoolManager with hook-based pools.