> For the complete documentation index, see [llms.txt](https://docs.syndromics.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.syndromics.xyz/collateral-and-assets/future-collateral.md).

# Collateral roadmap

Stock Tokens are the first collateral because they are the assets that exist natively on Robinhood Chain with broker distribution behind them. The protocol is not limited to them.

## Tokenized treasuries and fund shares

Tokenized US Treasuries are the largest non-stablecoin RWA category at about $16B on-chain. Tokens such as USDY, BUIDL-class funds and JTRSY can be bridged to Robinhood Chain over LayerZero or CCIP. As collateral they are attractive for the opposite reasons to stocks: very low volatility and NAV-based pricing.

Target parameters:

| Property        | Value                                                                                                                                        |
| --------------- | -------------------------------------------------------------------------------------------------------------------------------------------- |
| Max LTV         | 85% to 92%                                                                                                                                   |
| Liquidation LTV | A few points above max LTV                                                                                                                   |
| Oracle          | NAV feed from the issuer or Chainlink, with staleness bounds appropriate to daily NAV                                                        |
| Market session  | Not applicable; no closed-market haircut                                                                                                     |
| Transfer hooks  | Many of these tokens are permissioned (ERC-3643 or similar). The escrow contract must be allowlisted by the issuer before a market can open. |

## Robinhood's own tokenized funds

If Robinhood issues tokenized funds on-chain, they would be evaluated for collateral under the same process as any other token: oracle review, liquidity review, bytecode review, tier assignment through the timelock.

## Isolation is the rule

Each new collateral type is a separate market configuration keyed by `(collateralToken, loanToken, oracle, ltvConfig)`. Nothing is shared between markets: no pooled liquidity, no cross-collateral, no shared bad-debt accounting. A failure in a bridged treasury token cannot affect a Stock Token loan, and vice versa.

## Adding a collateral type

1. Bytecode review for pause, freeze, blacklist and forced-transfer roles.
2. Oracle review: feed availability, update cadence, deviation threshold, pause semantics.
3. Liquidity review: DEX depth on Robinhood Chain or, for NAV assets, redemption terms.
4. Tier and cap proposal with rationale, published for the timelock period.
5. Market opened with a small initial cap; cap raised as liquidation and repayment data accumulates.

## Permissioned token standards

For collateral that implements ERC-7943 (uRWA) or ERC-3643, the escrow contract calls `canTransfer` and `canReceive` before accepting collateral and before releasing it, so that a transfer restriction is discovered at settlement rather than at repayment. The [eligibility registry](/architecture/eligibility.md) is designed so that a token's own compliance rules and the protocol's rules can both be satisfied without either having to trust the other.


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