Shred it.
Deposit any Robinhood-issued stock token. Get a base token that redeems for the share at maturity, and a boost token that collects every dividend until then. One fee, once, on the way in.
// splitting is the only prerequisite
Split any yield-bearing token into two: the base, and the boost. Trade either half. Borrow against one. Merge back free, any time.
No margin calls on the boost. No dividend guesswork on the base. Just a stock, pulled apart on purpose.
— Live preview
A stock token goes in. A base and a boost come out. That's the whole trick.
01 — The mechanics
Deposit a stock token, walk away with two. Trade one, hold the other, or put both back together whenever you want.
Deposit any Robinhood-issued stock token. Get a base token that redeems for the share at maturity, and a boost token that collects every dividend until then. One fee, once, on the way in.
// splitting is the only prerequisite
Sell the boost and lock in a fixed-rate claim on the stock. Or buy the boost alone and ride the dividend stream for a fraction of the share price. Both trade in open pools.
// no margin, no liquidation, no drama
Post the base as collateral and borrow against it. Or merge both halves back into the full stock, free, whenever you like. Nothing expires that you didn't split on purpose.
// the merge button always works
02 — This series' splits
Discounts move with the pool. Split before the cap fills, or don't, and watch the price.
| Stock | Ticker | Maturity | PT discount | Total split |
|---|---|---|---|---|
| SPDR S&P 500 ETFthe whole market, wrapped in a ticker | SPY | Dec 2027 | 2.3% | $128,400 |
| Apple Inc.beats by $0.01 and nobody claps | AAPL | Dec 2027 | 1.1% | $96,220 |
| NVIDIA Corp.the entire AI trade, one ticker | NVDA | Dec 2027 | 3.4% | $71,050 |
| Tesla, Inc.an earnings call and a TED talk | TSLA | Dec 2027 | 4.0% | $54,300 |
| Blockchain Burgers Inc.no revenue, excellent branding, 4 locations | BURG | Dec 2027 | 9.5% | $18,940 |
03 — Proof of burn, sort of
Every figure below is a balanceOf call on Robinhood Chain, refreshed every minute. Nothing is minted to make a chart look nice. 100% of every $SHRED split fee is routed to buy-and-burn, permanently, in front of everyone.
04 — Season 0 standings
Season points are earned by splitting and merging, not by how loud you are about it.
| Rank | Shredder | Splits done | Best call | Season points |
|---|---|---|---|---|
| 1 | 0x4f2…9ab1 | 42 / 51 | NVDA split | 18,420 |
| 2 | degenshredder.eth | 38 / 51 | SPY merge | 16,905 |
| 3 | 0x91c…4d20 | 35 / 51 | BURG split | 15,110 |
| 4 | paperboy.eth | 31 / 51 | AAPL split | 12,760 |
| 5 | 0x0a7…e412 | 29 / 51 | TSLA merge | 11,340 |
05 — Tiers
Your $SHRED balance sets your tier. Tiers reset each season based on holdings, not vibes.
Where every wallet starts. Standard split fee, no priority allocation, full access to everything.
Entry · 0 $SHRED required
10% off every split fee. You've read the docs once. You mention it at dinner.
Hold 1,000 $SHRED
25% off split fees, plus priority allocation when a series cap fills.
Hold 10,000 $SHRED
50% off split fees and 2x governance weight on which ticker shreds next.
Hold 100,000 $SHRED
06 — Frequently yelled questions
Two tokens. The base redeems for the full stock at maturity and trades under spot because the dividends were cut away. The boost collects every dividend the position earns before then, priced as a fraction of the share. Together they always merge back into exactly one stock, free.
The boost is worth exactly what gets paid out, no more. Cut the dividend and the boost reprices down, possibly to zero. The base doesn't care either way — it still redeems the full share at maturity.
10 bps on the way in, once, when you split. 5% of the boost's dividends when you redeem it — only on what actually accrued. 100% of both routes to buy-and-burn $SHRED, which is a public address you can read anytime.
Nothing bad. The base still redeems automatically for the stock at maturity whether you merge or not. The boost simply stops accruing once the series ends. Merging early is a convenience, not a requirement.
07 — Roadmap
We publish the boring list too. It's the same list, just with fewer adjectives.
| Phase | What it actually is | Status |
|---|---|---|
| The splitting engine | Deposit, split, trade, merge. Five series live, fixed-rate PT, reprice-on-news YT. | Live · testnet |
| Lending on Morpho | Post the base as collateral, borrow against it without touching the boost. | Next |
| The mobile app | Push alerts when a series cap fills or a dividend lands. Regret, delivered on time. | Building |
| Other chains | We'll get there. Right now the vault lives in one place and it is very readable. | Dark |
| $SHRED token | Buy-and-burn, tier discounts, listing governance. Not a governance theatre production. | Built |
Bring the stock. We'll bring the split, the discount and the receipt.