1. 01

   Deposit

   A holder (or the treasury) deposits 1 share into a round, for example NVDA · 1D · line +2%. The vault locks the share and mints 1 FLOOR and 1 MOON.

2. 02

   Sell

   MOON is listed at a signed quote. A trader pays the premium: 90% goes to the FLOOR side pro rata, 10% goes to the burn vault.

3. 03

   Settle

   At the round's close the settlement price P is read. If P ≤ the line K, FLOOR takes the whole share and MOON is worth nothing. If P > K, MOON takes (P − K) / P of the share and FLOOR takes K / P.

4. 04

   Redeem

   Both sides redeem in the stock token. The FLOOR side rolls into the next round or withdraws.

FLOOR + MOON = 1 share, always. The math is the same for every wallet: the token never changes a price, a line or a cap.

1D

Opens and settles 20:00 UTC, seven days a week. Settles on a 30-minute DEX TWAP. MOON sales close one hour before settlement.

1W

Monday 00:00 UTC → Friday 20:00 UTC. Settles on the Chainlink price feed (last print before Friday 20:00 UTC). MOON sales close Thursday 20:00 UTC.

3D

A later phase, once 1D and 1W rounds fill consistently.

Lines

One line per round. NVDA: +2% (1D), +5% (1W). SPY: +1% (1D), +2% (1W).

Why two settlement sources: the Chainlink RHSPY / USD feed on Robinhood Chain prints on a ~0.5% move or a 24-hour heartbeat. Over its last 60 rounds the median gap was 19.5 hours, and it is silent from Friday until Monday 00:00 UTC. Weekly rounds can use it because sales close a day before settlement. Daily rounds cannot, so they settle on the DEX, which never closes.

Stock tokens on the chain apply corporate actions (cash distributions and splits) by changing one on-chain multiplier, with the next value and its effective time published in advance. No round may span a scheduled multiplier change; such rounds are shortened or skipped.

Fair value comes from a standard volatility model: 30-day realised volatility plus a margin, time to settlement, and distance to the line. The ask is fair value plus 10%. Quotes are signed off chain, valid for about 30 seconds, and checked on chain for signature, expiry and round.

NVDA 1D, line +2%

fair 0.343% · ask 0.377% of a share · pays ~22% of the time · +3% → 2.7x, +5% → 8.0x

NVDA 1W, line +5%

fair 1.006% · ask 1.106% · pays ~23% · +7.5% → 2.3x, +10% → 4.5x

SPY 1D, line +1%

fair 0.048% · ask 0.053% · pays ~12% · +1.5% → 9.4x, +2% → 18.8x

SPY 1W, line +2%

fair 0.227% · ask 0.250% · pays ~18% · +3% → 4.0x, +4% → 8.0x

These are draft model numbers (σ NVDA 50%, SPY 16%), not quotes. The number you get is the one shown in the app when you confirm.

• ›Open interest per round is capped at 1% of the settlement pool's liquidity (SPY/USDG today: about $38k of shares per round)
• ›NVDA settles on its NVDA/USDG or NVDA/WETH pool; the largest NVDA pool pairs it with a thin token and is not used
• ›Weekend 1D caps are half the weekday cap
• ›Weekday circuit breaker: a TWAP that strays too far from the latest Chainlink print pauses settlement until a valid price
• ›The on-chain quote guard rejects any price below intrinsic value or above a hard maximum, so a leaked key cannot sell tickets for pennies
• ›Pausing only ever stops new rounds; redeem is always open

You hold SPY or NVDA tokens and would sell everything above a line for cash today. Deposit shares, receive FLOOR, and collect 90% of every MOON sale pro rata as tickets sell. At settlement you redeem FLOOR (plus any unsold MOON), then roll or withdraw.

FLOOR is not free money. It is the price of selling your upside for the round. If the stock rallies past the line, you make less than a plain holder would. Read that sentence twice before depositing.

At launch the treasury is the only FLOOR seller. Deposits open to outside holders in Phase 3, capped, after the audit.

You want a stock's move without buying the whole share, with a hard cap on what you can lose. Buy MOON from $1 (tickets are fractional). If the round settles above the line, you own the excess and claim it in the stock token. If it settles at or below the line, the ticket expires and you lose the ticket, nothing more.

• ›No margin, no funding, no liquidation engine
• ›The maximum loss is the ticket, known before you buy
• ›Paper mode lets you take paper tickets on real rounds with no wallet: XP and cosmetics only

Total supply

1,000,000,000 $MOONBAG

Team allocation

0 — fair launch, 100% to the curve

Launch

Robinhood Chain launchpad; bonding curve to DEX graduation; LP locked

Creator fee

launchpad fee share → treasury multisig, swept daily

Burnable

yes — burns reduce total supply

What the token buys: paying the protocol fee in $MOONBAG drops it from 10% to 7.5%, and that $MOONBAG burns directly. Holder tiers add a 15-minute early window on capped rounds, holder-edition cards, and later a vote on tickers and lines.

• ›It never buys a cheaper MOON price, better odds, a wider line or a bigger cap
• ›It carries no share of the premium, the fees or any revenue
• ›It cannot pause, freeze or redirect the burn

Protocol fee

10% of every MOON premium (7.5% paid in the token)

Where it goes

100% to the burn vault, which market-buys $MOONBAG and burns it every day

Who can trigger it

Anyone. The vault has no owner and no pause

Creator fees

50% buy SPY / NVDA for FLOOR · 30% audit, keepers, infrastructure · 20% settlement reserve

The burn is usage-backed: no premium, no burn. Every burn is posted on the burn board with its transaction hash.

RoundFactory

createRound(stock, duration, line, cap, closeAt) — one round = one vault + one FLOOR id + one MOON id

RoundVault

deposit(), buyMoon(quote, sig, amount), settle(), redeemFloor(), redeemMoon()

QuoteVerifier

EIP-712 quotes with round, price, expiry and nonce; on-chain bounds

SettlementReader

1D: DEX observe() TWAP · 1W: Chainlink latestRoundData with staleness checks

BurnVault

ownerless, pauseless burn()

Addresses

To be announced. Until they are published here and on the project's own channels, any contract claiming to be Moonbag is a fake.

• ›Smart-contract risk: unaudited until the report lands. That is why outside FLOOR deposits stay closed until then
• ›Oracle risk: the Chainlink feed is slow and silent on weekends; a DEX TWAP can be pushed. Caps and breakers limit the damage, not the possibility
• ›Pricing risk: the model can be wrong in either direction
• ›Issuer risk: stock tokens are issued by third parties, are not available in every country, and carry their own terms
• ›Regulatory risk: a structured product over tokenized stocks is new; availability follows the issuer's
• ›Treasury risk: the treasury holds NVDA and SPY and carries their price risk
• ›Launchpad risk: some launchpads let the factory owner reroute creator fees after a timelock; daily sweeps cap the exposure to one day

1. 01

   Is this leverage?

   No. It is a fully collateralised split of one share at a line, settled in the stock token. There is no margin, no liquidation and no counterparty after settlement. Read the risks section before using it.

2. 02

   What happens if the feed is stale on a Friday?

   1W rounds settle on the last valid print before 20:00 UTC. If the feed is stale beyond its limit, settlement waits for a valid price; redeem of unsettled shares stays open through merge.

3. 03

   Can the team change a round after it opens?

   No. Line, cap and close time are fixed at creation. Admin can only list new rounds and set caps for future ones.

4. 04

   Can I lose more than the ticket?

   No. A MOON ticket can expire worthless; that is the whole loss. FLOOR holders give up the upside above the line for the round they joined.

5. 05

   When does the token launch?

   The same week as the first mainnet settlement, after rounds are live and the settlement page is public. There is no token today; any contract claiming to be Moonbag before then is a fake.