How the owl works.

01Overview

You hold assets that trade on Robinhood Chain. OWL turns any of them into an instant ETH credit line without making you sell. You pledge collateral, choose a tier (which fixes your loan-to-value, term, and fee), and receive ETH. A published liquidation price is shown before you commit. While the loan is open you can arm a take-profit or stop-loss on the collateral itself — a keeper watches every 15 seconds and executes it for you, clearing the debt and returning the surplus. Repay cleanly and your credit score climbs, unlocking higher LTV and lower fees.

02Architecture

OWL runs as a single dependency-free Node service plus a browser client. There is no framework, no database server, and no background job runner — just a tight event loop.

• Price poller — every 18s: one batched Pyth call values ETH and every tokenized stock from real equity feeds, and DexScreener marks the Robinhood-native tokens to their deepest on-chain pools.
• Loan engine — quoting, opening, repaying, and closing loans; the credit ledger; the fee-split ledger; and an append-only receipt log.
• The keeper — a 15-second tick that checks every open loan for take-profit, stop-loss, health-floor, and term-expiry conditions and settles the ones that trip.
• Live feed — a hand-rolled WebSocket pushes every receipt and price update to connected clients, so the dashboard and the landing page update in real time.

03Loan lifecycle

1. Connect or watch. Connect an EVM wallet (MetaMask/Rabby — address only, no signature) or paste any 0x address in watch mode. OWL reads your real Robinhood Chain balances of catalog tokens and prices them live. Empty wallets receive a demo bag so the protocol is instantly usable.
2. Quote. Choose a token, an amount, and a tier. OWL returns the ETH principal, the fee, the total repay amount, the term, and the exact liquidation price — all before you commit.
3. Borrow. The collateral is locked; the ETH principal lands in your balance. The loan is now open, with a fixed due date and liquidation price.
4. Manage. Optionally arm a take-profit and/or stop-loss (see Auto-protect).
5. Resolve, one of four ways:
   • Repay — pay the debt in ETH, reclaim your collateral. Credit +40.
   • Close via sell — sell the collateral at the live price, clear the debt, keep the surplus. Credit +40.
   • Auto-sell — your TP or SL fires; the keeper sells, clears debt, returns surplus. Credit +20.
   • Liquidation — the health floor breaks or the term expires; the keeper sells to cover the debt (5% penalty on any surplus). Credit −250.

Every one of these writes a signed, append-only receipt to the public ledger.

04Tiers & LTV

Two collateral classes, each with three tiers. Volatile assets get lower LTV and short terms; lower- volatility real-world assets get more capital, for longer. Fees are flat and quoted up front.

Memecoins & majors

Tokenized stocks · ETFs · metals (RWA)

The fee accrues in ETH and is baked into the repay total at open: debt = principal × (1 + fee). Credit tiers can lift your effective LTV and shave the fee — see Credit system.

05Liquidation & the keeper

Your liquidation price is computed at open and never moves. It's the collateral price at which the position's value falls to the debt times the tier's liquidation buffer:

// at open
liqPrice = (debt × liqBuffer × ethUsd) / collateralAmount

// every keeper tick (15s), for each open loan
valueEth = collateralAmount × price / ethUsd
if (valueEth <= debt × liqBuffer)  liquidate()
if (now > dueAt)                   liquidate()  // term expired

On liquidation the collateral is sold at the live price, the debt is cleared, and any surplus is returned to you minus a 5% liquidation penalty. The 15-second keeper cadence is deliberate — it is six times faster than the ~90-second cadence common to comparable bots, which means tighter execution on both your stops and your liquidation threshold.

06Auto-protect (TP / SL)

This is the differentiator: your collateral keeps working while it's pledged. On any open loan you can arm a take-profit price, a stop-loss price, or both. The same keeper that watches for liquidation watches your levels:

• Take-profit — when the collateral price rises to your TP, the keeper sells, clears the debt, and returns the surplus ETH to you. You've locked the gain without ever un-pledging.
• Stop-loss — when the price falls to your SL, the keeper sells early — on your terms, above the liquidation price — so you exit before a forced liquidation and its penalty.

A protected exit is credit-positive (+20), because you resolved the loan responsibly rather than letting it be liquidated.

07Pricing & oracles

Two real price sources, one per asset class. Tokenized stocks, ETFs and metals mark to Pyth equity feeds (the same real-time feeds professional venues use — AAPL/USD, TSLA/USD, SPY/USD and so on), fetched in a single batched Hermes request per cycle — crypto majors (BTC, DOGE, XRP) mark to Pyth crypto feeds the same way. Robinhood-native tokens mark to their deepest on-chain liquidity via DexScreener — pinned to an exact deep pair where it matters, which avoids the mispriced-thin-pair problem. ETH/USD itself comes from Pyth and converts every quote.

A token only becomes eligible collateral once it returns a live price at boot; anything unpriced is automatically disabled, so a stale or missing feed can never produce a bad quote. Prices refresh every 18 seconds and stream to clients over WebSocket.

08Credit system — "credit is buying power"

Every wallet has an on-chain credit score from 0 to 1000, starting at 300. It moves with your behavior, and it's the only thing that changes your terms — credit is earned by repaying, never bought by holding.

Tiers

The bonus is applied at quote time: your effective LTV is the tier LTV plus your credit tier's bonus, and your fee is the tier fee minus the credit discount (floored at 0.50%).

09Fees

Every loan fee splits four ways, recorded on the ledger:

Referrals are captured with a ?ref=<wallet> parameter at first registration. If a borrower has no referrer, that 5% rolls into the protocol share. Holder distributions activate at token launch; accrual is already live on the ledger today.

10Collateral catalog

Live, curated, and expanding. Every entry is validated against a live price before it's enabled.

Robinhood Chain natives & crypto majors

QUANT · INDEX · JUGGERNAUT · CASHCAT · BTC · DOGE · XRP

Tokenized stocks · ETFs · metals

AAPL · NVDA · TSLA · COIN · MSTR · META · GOOGL · SPY · GLD · HOOD

11Custody & security

OWL's trust model is the whole pitch, so it's worth being blunt about it.

• No keys, ever. Connecting a wallet uses eth_requestAccounts to read your public address only. OWL never requests a transaction signature and cannot move your funds. Compare that to a custodial bot where "your wallet is the bot wallet."
• Simulated settlement today. In the current beta, loans and balances are simulated on real, live prices. Nothing you do here touches your on-chain assets — which means nothing here can lose them.
• Audit before custody. Real on-chain lending and custody ship only after a third-party audit of the on-chain program. Until then, settlement stays simulated — deliberately.
• Everything is a receipt. Borrows, repays, auto-sells, liquidations, and fee splits are all written to an append-only public ledger and streamed live. Nothing happens off the record.

12API reference

Read endpoints are open. Actions take a JSON body over POST.

Example — quote a loan:

# 50,000 QUANT, Express tier, credit 300
GET /api/quote?mint=<QUANT_CA>&amount=50000&tier=express&credit=300

{ "tier":"Express", "ltv":0.30, "principal":0.0035,
  "fee":0.000105, "debt":0.003605, "liqPriceUsd":0.000284,
  "days":2, "creditTier":"Owlet" }

13Disclosures

OWL is an experimental lending protocol in beta on Robinhood Chain. Prices and wallet reads are real; loans, balances, settlement, and custody are simulated until an on-chain program is audited and deployed. $OWL is a memecoin with no promise of value, yield, or profit, and nothing here is financial advice. Tokenized-stock positions mark to real Pyth equity feeds; the underlying equities are not offered, endorsed, or issued by OWL. Never risk what you can't afford to lose. Your bag is buying power — and the ledger keeps the receipts.