Investor overview September 2026
Fourteen slides: why stock token dividends need a market, how STOX splits them out, where the build stands, how it earns, and what could go wrong. Scenarios are illustrative, not forecasts.
The yield layer for tokenized stocks.
STOX splits a stock token in two: a principal token that keeps the share and a yield token that keeps its dividends. Put them back together any time, for free.
Stock tokens are on chain today. Their dividends are locked inside them.
Dividends arrive as a raised multiplier. Nothing on chain can price that income, trade it or tell it from a split.
No yield market
The dividend never leaves the token. If you want only the income there is nothing to buy, and if you want only the share there is nothing to sell.
No fixed income
Nobody can buy a stock token without its dividends, at a discount, to a set date. Bond markets have offered that trade since Treasury STRIPS in 1985.
No collateral pricing
A multiplier jump could be a dividend or a stock split. A lender that cannot tell which one happened cannot price the token safely.
STOX answers all three with one vault per stock and maturity, and one on-chain accountant per stock that labels every multiplier change before anything depends on it.
Split one stock token into two. Merge them back for free.
Estimated value of one stock at issue, before fees: sTOKEN 1/(1+g), xTOKEN g/(1+g), where g is the estimated yield times the years to maturity (Sep 11, 2026). No pools exist yet. The yield segment has a minimum width so it stays readable.
The share, without its dividends. Trades below the stock because the income was cut away, then redeems a × d0/dT stock at maturity: the part of the position the dividends did not add.
The dividends, without the share. Every dividend the position earns until maturity, for a small slice of the price. Redeems a × (dT - d0)/dT stock, less a 5% fee on that drip. No leverage, no liquidation.
Merge works in every vault state: one sTOKEN and one xTOKEN always return one stock token. If the pair drifts away from the stock, splitting or merging closes the gap at a profit, and that ties both tokens to the stock.
Pre-launch. The contracts are written and tested. Nothing is deployed yet.
Live on Robinhood Chain, read from the factory as you look.
Deploy is one script
It runs the tests, simulates the plan, waits for a typed confirmation, then reads every contract back and verifies the source on Sourcify.
Real data before launch
Stock token multipliers, scheduled changes and pool prices on stox.live are read from Robinhood Chain today.
One switch
Deploy records the contracts in the site config, and every page moves from pre-launch to live reads with no other change.
Four revenue lines, and the moment each one starts.
Taken in the stock on every split and paid to the treasury. Merging back costs nothing.
Of the stock an xTOKEN redeems at settlement, never of the principal. The first series mature Jun 25, 2027.
Uniswap v3 fees on the treasury's own liquidity: 0.05% in sTOKEN pools, 1% in xTOKEN pools.
Principal tokens as Morpho Blue collateral for USDG loans. The contracts take no lending fee today.
Both protocol fees are fixed into each series when it is created and capped in code: at most 0.50% to split and at most 10% of the yield. Contract defaults are shown.
If stock tokens keep growing, the fees grow with them. The arithmetic, three ways.
Mid case, year by year.
Treasury policy: protocol fees buy $STOX on the market, and what they buy is burned.
Buy and burn, by policy
Once $STOX trades, the treasury routes the fees it collects into market buys of $STOX and burns them. That is how the treasury is run, not something the contracts enforce.
Launches on ponsfamily.com
$STOX launches on the ponsfamily.com launchpad, on Robinhood Chain, the same chain the vaults live on.
Contract address at launch
The only official address goes up on stox.live and @stoxlive on launch day. Any address before that is not $STOX.
Every multiplier change, labelled on chain and free for anyone to read.
- Free to read. Plain view functions. Any lending market, vault or script on the chain can use them without asking.
- Honest when unsure. A waiting change reads unsynced, and the STOX lending oracle prices its worst case or stops for a split-sized move.
- Hard to fool. The two bands cannot overlap, so a keeper cannot mislabel a change: a wrong call simply reverts.
Splitting income from ownership is an old, proven idea. STOX brings it to stock tokens.
| Comparable | How the split worked | What it showed |
|---|---|---|
| Treasury STRIPSsince 1985 | US Treasury bonds separated into a principal strip and a strip for each coupon, each trading on its own. | Principal on its own is a fixed-income asset, bought at a discount to what it pays back. |
| PRIMES and SCORESAmericus Trust, 1983 to 1992 | Trust units split large company shares into a PRIME, which kept the dividends and price gains up to a set level, and a SCORE, which kept the gains above it. | A stock's income and its growth can go to two different buyers. |
| Dividend futuresEurex, CME | Exchange-listed contracts on the dividends an index pays over a set period. | Dividends already trade as an asset of their own in traditional markets. |
| Principal and yield tokensDeFi, Pendle and others | Yield-bearing crypto tokens split into a principal token and a yield token with a maturity, merged back freely and traded in pools. | The on-chain version works: split, trade, merge, redeem at maturity. STOX points it at stock dividends. |
Five steps from pre-launch to a working market.
Each step waits for the one before it. A date gets announced when its step is ready, not before.
What could go wrong, and the guard rail built for each.
- Smart contracts. Unaudited at launch. Every series has a deposit cap of about $250k of stock, the owner can pause new splits but can never move stock, and merge works in every vault state.
- Misclassification. The dividend and split bands cannot overlap, so a wrong keeper call reverts. Anything outside both waits for a bounded guardian proposal, two days in public, or a 14 day default.
- Lending price. The sTOKEN oracle reads no pool: a fresh Chainlink price times d0 / d, discounted to maturity and capped at one stock.
- Issuer. Stock tokens are issued and controlled by their issuer, which can pause them or change the multiplier. STOX builds on them and controls neither.
- Liquidity. New pools start thin. With no Quoter on this chain, the app quotes from pool state, shows each pool's real balances and blocks a trade that would reach them.
- Adoption and rules. The case needs stock tokens on this chain to keep growing, and they are not offered in every country. Neither is in STOX's control.
Split the stock. Keep the part you want.
Chain figures carry the date they were read. Every scenario is illustrative and built from the assumptions shown on its slides. STOX is pre-launch and unaudited.STOX is live and unaudited at launch. Nothing here is an offer, a forecast or investment advice. $STOX is not a share and not a claim on revenue, and it has no contract address until launch day on stox.live.