Docs.

FOLIO combines a stock-collateral stablecoin (Nest), tiered CDP markets with a stability pool (Arrow, Robinhood Chain) and a 15-minute stock-dividend engine (The Index, Robinhood Chain) — and adds perpetuals margined in the stablecoin.

1 · fUSD — minting

Each collateral asset is an isolated market with its own LTV, liquidation threshold and debt cap. Deposit collateral, mint fUSD up to collateral × price × LTV. Positions are not cross-collateralized.

• Stability fee: 3.00% APR, accrued continuously: debt × 0.03 × Δt / year. Repayments hit accrued fees first, then principal.
• Origination: 0.10% of minted amount, paid at mint.
• Health factor: collateral value × liquidation threshold ÷ debt. Below 1.0 the vault is liquidatable.

Tier	Assets	Max LTV	Liq. threshold
Stable	USDT	90%	95%
Crypto	BNB	75%	82%
ETF	SPY, GLD	55%	65%
Tier 1	HOOD, NVDA, AAPL, GOOGL, META	55%	65%
Tier 2	TSLA, COIN, MSTR	40%	52%

2 · Peg stability module

USDT ⇄ fUSD at 1:1, zero fee, no debt created. fUSD → USDT redemption is available while the PSM holds idle USDT. Oracle: Pyth for every price; USDT pinned to $1.

3 · sfUSD — staked fUSD

A share token. Deposit fUSD, receive shares at the current price-per-share; the pool accretes toward a 6% APY target, funded from borrower stability fees first and the surplus buffer second. Unstaking burns an exit fee equal to one day of target APR (≈0.016%).

4 · Stability pool & liquidations

When a vault's health factor drops below 1.0 the stability pool burns fUSD equal to the debt and receives collateral valued at oracle × (1 − 5%), credited pro-rata to depositors. Any remaining collateral returns to the vault owner. If the pool is too shallow the surplus buffer (accumulated fees) absorbs the shortfall.

5 · Dividend engine (every 15 minutes)

All protocol revenue — origination, stability, perp taker/liquidation fees — accrues to a pot. At each quarter-hour: 50% buys a tokenized stock at oracle price and is airdropped to $FOLIO holders pro-rata to balance; 50% is added to locked FOLIO liquidity. Stock rotation: NVDA → AAPL → GOOGL → HOOD → META → SPY. Holder balances are read on-chain once FOLIO_MINT is set; until then each connected wallet carries an allocation.

6 · Perpetuals

• Markets: BTC, ETH, BNB, SOL (max 25×); HOOD, NVDA, TSLA, SPY, COIN, MSTR, AAPL, GOOGL, META, GLD (max 10×).
• Isolated margin in fUSD. Mark = Pyth. Taker fee 0.06% on open and close.
• Maintenance margin 0.5% of notional; equity ≤ maintenance → liquidation, 0.5% liquidation fee.
• Funding hourly: rate = clamp(±0.1%, k × (longOI − shortOI)/(longOI + shortOI)); the heavier side pays.
• All perp fees flow to the dividend engine.

7 · $FOLIO

The protocol token on BNB Chain. Holding it is what earns the 15-minute stock dividends. Nothing here is financial advice; overcollateralized lending and leveraged trading can lose money.