Vaults
Every token, fully backed.
Two layers hold Own together: per-asset RWA vaults custody the Robinhood tokens behind each eToken, and dedicated insurance collateral stands behind trading and settlement. All of it lives on-chain, in the open.
RWA holdings
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all RWA vaults, USD
Insurance collateral
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backs protocol exposure, USD
Insurance collateral is used to issue eTokens during off market hours, letting the protocol run 24/7 while onchain collateral always stays at or above the eTokens issued. Once markets open, all the RWA vaults are automatically rebalanced 1:1 with Robinhood tokens. In the meantime, protocol MMs manage their risk off protocol and rebalance the protocol when liquidity is back.