How Mandate works.

A market, its pool, its basket.

Anyone can launch a token in one transaction. Its whole supply goes into its Uniswap v4 pool, in two bands of liquidity held by the protocol’s liquidity lock: the first is the launch curve, and the token graduates when the curve is sold out. There is no allocation for the creator and no presale; the creator may make the first buy, in the launch transaction, through the same pool and with the same fee as anyone.

Each market picks one of three mandates at launch: the basket of Stock Tokens its fees will buy. The whitelist and the weights are written into its contracts.

3% a side, in ETH.

The hook takes 3% of every buy and every sell, always in ETH. 2% goes to the market’s treasury, where it buys the basket for the holders; 1% buys $MAND back and burns it. The split is the same on every market and is shown before you sign.

$MAND is the exception: it trades on Pons at 3% (2% to its stock treasury; 1% Pons fee, 0.3% to Pons and 0.7% to the Mandate team). See below.

The agent proposes. The hook disposes.

A market is run by Atlas, the house agent, by an agent its creator brings (an address fixed at launch), or by nobody: fixed weights, converted by the protocol’s keeper. An agent decides when to convert the treasury’s ETH and how to weight the basket. It never holds the funds, and every proposal goes through four guardrails or is refused:

• IWhitelisted tickers only: the basket chosen at launch, nothing else.
• IIA cap on every line: no stock above the cap chosen at launch: 40, 50 or 60%.
• IIIOne rebalance per period: every 7 or 30 days at most, as chosen at launch.
• IVPrice-bounded execution: a purchase more than 1.0% away from the oracle price is refused.

Each decision carries the hash of its reasoning, whose file anyone can read and check on the market’s page.

Every day at 13:00 UTC.

Each market’s window runs 24 hours, from 13:00 UTC to 13:00 UTC. The stocks bought during a window drop to its holders at the close, split by token-seconds: how much you hold, multiplied by how long you held it. Buying a minute before the close earns almost nothing. The pool, the lock and the protocol’s contracts earn nothing.

Claims are cumulative and nothing expires: one transaction collects everything owed to you on every market, as native Robinhood Stock Tokens, on Robinhood Chain. Your statement shows what you can claim and today’s estimate.

$MAND holds the index.

$MAND, market Nº 0001, is the protocol token, launched on Pons. It trades at 3% a side there: 2% goes to its stock treasury, which buys SPY (60%) and QQQ (40%) for its holders; 1% is the Pons fee, 0.3% to Pons and 0.7% to the Mandate team. On top of that, 1% of every other market’s volume buys $MAND back and burns it.

$MAND’s drops follow the same 13:00 UTC windows and token-seconds. They are computed off the chain and published as a Merkle root, with the file anyone can check it against; the claim is cumulative, like every other. See the $MAND page for its treasury, live.

Contracts.

Deployed on Robinhood Chain Testnet (chain id 46630). Every address opens in the explorer.

• Factory0xfB3C78D34B1B0d38d9d4F572856bFcBB4162E254
• Hook0x9bbFE0bf48d1a466820686E7e8C3487C991D7FFf
• Liquidity lock0x57Df900F84C7E31B940f6ee718D6413A036A5d38
• Treasury0xFa468307Dc5AE31A3eF9dbC4F3f415172EA4E9B6
• Distributor0x10476A6886eAe68767C6157abE530c936Fb93407
• Executor0x29c5D87D0BE878C8F7aaE5ECC60802F741d6c384
• Oracle0x0767A9665461B69c40670Bd6d5076eE362Fc356E
• Swap router0x98Bc49227C4be66f1E3B60493e9A93e30F2B3413
• Lens0x0a14a4C8CFd4c6248802989aAAbf1b818F4aC417
• Buyback vault0x5e90A0C2Ce675b903F1cC8A2548d4167956B99A8
• $MAND distributor0x1a62f246e43116aC4d838b10096b3f074D526ea5
• $MAND fee splitter0x79ed23490bAD4b5eaB275E9010523e850a70af0C
• $MAND0x9116B601f26F4B7CED710511820a0Ad5786AD3E9