Fletch

Robinhood now pays your dividends up to a month early. Fletch takes that further: it makes the dividend itself something you can trade. On Robinhood Chain, Fletch splits a tokenized stock into two tokens, one for its value and one for its dividend. That gives you three ways to earn: • Buy the value token at a discount and hold it for a fixed, predictable yield. • Buy the dividend token cheap for leveraged upside if the payout comes in strong. • Or sell your future dividends for cash today, instead of waiting for them. Robinhood gets you paid sooner. Fletch lets you trade the payout itself. Mainnet contracts are already deployed on Robinhood Chain, opening one market at a time. Ca: 0x3450598e419aBB5609f60e4B2Fda127ff0897777 Tg: t.me/FletchFinance Website: fletch.finance

Bullseye is leverage on a fixed yield, in one deposit. You put in $10,000. The vault buys PT, posts it as collateral, borrows against it, buys more PT, and loops until it hits your target. Now you control ~$30,000 of PT earning 4.8%, paying interest only on what you borrowed. Net ~$1,040 on $10,000. That's 8–12% depending on leverage and rates; ~10% is the midpoint. PT is calm collateral, it trends toward face value as it matures, so the loop rarely has to move. And the vault deleverages itself before liquidation, not after. The yield is variable. It moves with the borrow rate. This is leverage, know what you're holding. Fletch. Split it. Basket it. Bullseye it.

The next layer for Fletch. Real dividend yield on Robinhood mainnet. Introducing Bullseye. Turn a fixed 4.8% into 8 to 12%, ~10% in the middle. Loop PT into leverage in a single deposit. The vault buys PT-SGOV, borrows against it, buys more, and repeats to your target. The whole stack earns the fixed yield; you pay interest only on the borrow. fletch.finance/bullseye

Early Dividends is a great start. Fletch is the next version of it. Robinhood gets your dividend a month early. Fletch makes the dividend a tradeable asset entirely: split any tokenized stock into a fixed-yield token and a dividend token, then hold, sell, or trade the payout on its own. Not just paid sooner. Priced, and tradeable, on-chain. Live now on Robinhood Chain Mainnet 👉 fletch.finance

SPY is now live on Fletch The SPDR S&P 500 ETF Trust is the second market to go live on Fletch on Robinhood Chain mainnet, joining SGOV. Any user holding SPY tokens on Robinhood Chain can now deposit into the Fletch vault and receive two tokens in return: PT-SPY — a principal token redeemable 1:1 for SPY at maturity on December 31, 2026. It trades at a discount today, with the market currently pricing SPY's implied dividend yield at 1.24% annualised. The discount is fixed at the moment of deposit and locked to maturity, no liquidations, no variable rates. YT-SPY — a yield token that receives 100% of all SPY dividends accrued against your deposit between now and maturity. It gives you pure, leveraged exposure to SPY's dividend stream with no obligation to hold the underlying. This is the first time SPY's dividend yield has existed as a standalone tradeable primitive on-chain. The PT discount is not an oracle price or a model output, it is set by the market in real time, updating every block. Deposits are open now at fletch.finance

Final steps before the next Fletch markets go live on Robinhood Chain mainnet. SPY is one of them, tokenized S&P 500 exposure. And the S&P 500 is the most widely held index on earth: → ~$11 trillion is indexed to it → the majority of US retirement accounts hold it → hundreds of millions of investors, directly or through funds That's the base of people who own the dividend. Fletch makes it tradeable, split any S&P 500 position into a fixed yield and a dividend. SGOV opened first. SPY and the rest are next. fletch.finance/mainnet

More Fletch markets are going live on Robinhood Chain mainnet today. SGOV was first. Now the index ETFs and single stocks start opening, one tested market at a time, out of 25 deployed. The audience behind this is massive: → ~24M Robinhood accounts, the users Robinhood Chain is bringing on-chain. → ~$1.7 trillion in dividends paid globally every year → Hundreds of millions of dividend investors and stockholders worldwide. Every one of them holds dividend-paying assets. None of that yield has ever been tradeable on-chain, until Fletch. Deposit a tokenized stock → split it into fixed yield + dividend. That's the whole market opening up. fletch.finance/mainnet

Fletch is live on Robinhood Chain mainnet. Here's where we are and why it matters. What we shipped: The full protocol, core contracts plus 25 markets, deployed on Robinhood Chain (chainId 4663). SGOV is open as the first live market, and the first on-chain dividend has already settled. Every contract is verifiable at fletch.finance/mainnet. What Fletch does: Robinhood put real stocks on-chain. Fletch splits each tokenized stock into two tradeable tokens: one that locks a fixed yield, and one that captures the dividend. For the first time, a stock's dividend has its own live, on-chain price Why it matters: ~$1.7 trillion in dividends are paid globally every year, and none of it has ever been tradeable on-chain. Robinhood is bringing millions of investors onto its chain, and just launched Early Dividends. Fletch is the extension of that: they get paid sooner, we let them trade the payout itself.

Robinhood is putting real stocks on-chain and moving millions of investors with them. And with Early Dividends, they've made it clear dividends are next. Here's the scale of what's coming: → ~$1.7 trillion in dividends are paid globally every year → 1B+ people receive them, hundreds of millions directly → ~24M Robinhood accounts, with tens of millions of new investors onboarded worldwide each year Right now, none of that dividend flow is tradeable on-chain. Fletch is the extension of Early Dividends: we take the tokenized stocks on Robinhood Chain and turn their dividends into a market. Fixed yield on one side, dividend upside on the other. Every one of those users is a future Fletch user. fletch.finance/mainnet

$FLETCH is the native token of the Fletch launchpad, and the tokenomics are deflationary by design. Every market on Fletch launches through the same engine: the SeriesFactory mints a vault + PT + YT, seeds pools, and opens trading. $FLETCH sits at the center of it. Every market launched, every trade routed, every fee collected flows back to the token The mechanism: platform fees ──▶ buy $FLETCH (open market) ──▶ burn() ▲ more markets · more volume · more fees more launches → more fees → more $FLETCH bought and burned → supply down No emissions. No inflation funding the yield. The burn is powered by real protocol revenue, and it compounds as the launchpad opens more markets. $FLETCH isn’t attached to the protocol it’s the asset the whole thing accrues to. 25 markets in the pipeline. Each one feeds the burn. fletch.finance

What's Next for Fletch Mainnet: → 24 more markets opening in batches, ETFs and equities, each after testing → Real fixed yields you can lock on-chain as pools deepen → Live implied dividend yields, priced by the market every block → Testnet points converting to a $FLETCH allocation → Token utility in design: fee share, buyback and burn, real-yield staking The thesis is simple: real assets, real yield, and a token wired to capture the fees they generate. SGOV is market 1 of 25. fletch.finance

Fletch — Day 1 on mainnet, shipped. We took Fletch from testnet to Robinhood Chain (chainId 4663): 5 core contracts (Oracle, Guardian, Factory, Router, OracleReader) + 25 markets, each a vault + PT + YT, all deployed deposits-paused, maturity Dec 31 2026. The mechanic, deposit R of a tokenized stock, mint R PT + R YT: totalRaw += received; pt.mint(to, received); // R Principal Tokens yt.mint(to, received); // R Yield Tokens // invariant: PT + YT == R → no liquidations, no bad debt PT redeems 1:1 at maturity for a fixed yield; YT accrues 100% of the dividend. It composes directly with Robinhood's ERC-8056 Stock Tokens, no integration needed, reading the on-chain multiplier to track dividends. Dividends and splits both move that multiplier, so the classifier guards it with four layers: optimistic keeper, heuristic screen, 24h dispute window, and a fail-safe pause. We proved the full path, the first on-chain dividend settled on SGOV (D 1.0000× → 1.0100×), finalized to Ethereum. Markets open one at a time after a live smoke test: ✓ seed PT/YT pools ✓ deposit R → assert PT + YT == R ✓ redeemBeforeMaturity → 1:1 → Guardian.pauseVault(SGOV, false) // OPEN SGOV cleared it and is now live, market 1 of 25. Also shipped: a public /mainnet page with every contract linked on-chain, in-app verify links, and a fixed-yield-vs-leverage calculator. Next: the rest of the ETFs and equities, in batches, each tested before it opens. Verify everything: fletch.finance/mainnet

🧵 SGOV is now live on Fletch on Robinhood Chain. The first of 25 markets on mainnet. Here's what that means technically: 1/ What SGOV is SGOV (iShares 0-3 Month Treasury Bond ETF) is a tokenized short-duration treasury instrument on Robinhood Chain — a yield-bearing asset that rolls T-bills continuously and distributes the coupon as a dividend. 2/ What Fletch does to it Deposit SGOV into the Fletch vault. The protocol mints two tokens at a fixed exchange rate: → PT (Principal Token) — redeemable 1:1 for SGOV at maturity (Dec 31 2026). Trades at a discount today. That discount is the market's implied yield. → YT (Yield Token) — receives 100% of all SGOV dividends accrued against your deposit until maturity. Pure yield exposure, no principal. 3/ Why this is new Treasury yield has never been a tradeable on-chain primitive before. Fletch prices it in real time via the PT discount. The implied yield updates every block. No oracle. No synthetic. The market sets it. 4/ What you can do right now Deposit SGOV → receive PT + YT Hold PT for a fixed ~4.8% locked to maturity Hold YT for leveraged dividend exposure Sell either token immediately once liquidity pools are seeded Over the coming days we are going to be rolling out all index ETFs and Equities in batches once each market has been tested and vaults unpaused. TX (view SGOV in Fletch Vault): robinhoodchain.blockscout.com/address/0xf786… fletch.finance/markets

We're in the final stretch before mainnet. 🛠️ Fletch's core protocol and 25 markets are already deployed on Robinhood Chain (chainId 4663). Everything compiled, everything on-chain, everything paused until it's proven. Now we run the launch sequence, one market at a time, SGOV first: seed the PT/YT pools → deposit R → assert PT + YT == R → redeem 1:1 → arm the 24h dispute window → Guardian opens the market. Every step verifiable on-chain before a single deposit goes live. fletch.finance/mainnet

Exactly why we chose Robinhood Chain. Fletch makes a stock's dividend programmable: split it out, price it, trade it. It extends Early Dividends from "paid sooner" to "a market of its own." Real assets, real yield, on-chain. fletch.finance

MAINNET IS COMING. Fletch splits a tokenized stock into two tradeable tokens: a Principal Token for fixed, predictable yield, and a Yield Token for leveraged exposure to the dividend. It gives a stock's dividend its own live, on-chain price for the first time. Now it's on Robinhood Chain mainnet. chain 4663 (Robinhood Chain) markets 25 (PT + YT each) status deployed · paused opens SGOV first All contracts are on-chain and verifiable now: fletch.finance/mainnet

Just reached out to the Robinhood Chain team about Fletch. Early Dividends pays you ~17 days early. Fletch lets you pull your whole future dividend forward, by making the payout a tradeable, on-chain asset. Same idea, taken further. Built on their chain. 0x3450598e419aBB5609f60e4B2Fda127ff0897777 fletch.finance

Robinhood is putting real stocks on-chain. Fletch makes them do more. We take Robinhood Chain stock tokens and split each into two: a value token and a dividend token. Hold the value for a fixed yield, or trade the dividend on its own. It's the natural next layer for Robinhood's RWA push. Robinhood tokenizes the stock and pays the dividend early. Fletch turns that dividend into a tradeable, on-chain asset. Real equities, real yield, fully on-chain. fletch.finance

Love this. Robinhood pays your dividend 17 days early. Fletch makes the dividend tradeable. On Robinhood Chain, we split a tokenized stock into a value token and a dividend token, so you can cash out future payouts today or trade the yield directly. Same direction, on-chain. fletch.finance

Fletch is bringing real-world assets on-chain, starting with stocks and their dividends. We split a tokenized stock into two tokens: one for its value, one for its dividend. Hold the value for a fixed yield, or trade the dividend on its own. RWA, but for equities. fletch.finance