skip to content
endow

docs

your dollars stay.
the interest buys the stocks.

Everything about how Endow works, what it costs, and what can go wrong. Short sections, plain language.

Before launch nothing here is functional. The vault opens together with the token; until then the simulator and every animation on the site are illustrations. Rates shown anywhere are illustrative and variable.

How it works

Endow is a USDG vault built on Robinhood Chain. You deposit USDG, the vault puts it to work in a lending market, and the interest — never the capital — is used to buy Stock Tokens for you.

  1. Deposit. You deposit USDG into the vault and receive a receipt, 1:1.
  2. Interest. The vault places the USDG on a lending market on Robinhood Chain (Morpho), where it earns a variable rate.
  3. Choose. You pick what your interest buys: one Stock Token, or a split such as NVDA 50 / AAPL 30 / SPY 20.
  4. One buy a day. Once a day, during US market hours, the vault harvests the interest of every depositor and makes a single grouped purchase per stock.
  5. Shares in your name. The shares accumulate for you. Claim them whenever you like.

The capital is never invested in stocks. It stays in USDG, and you can take it back 1:1 at any time, subject to the liquidity available on the lending market.

The vault

The vault holds one asset: USDG. Deposits are supplied to a lending market on Robinhood Chain, and the vault tracks each depositor’s share with a 1:1 receipt.

Asset
USDG
Receipt
1:1 with your deposit
Where it earns
a Morpho lending market on Robinhood Chain
Rate
variable, set by the lending market
Lock-up
none
Opens
at token launch

You choose which Stock Tokens your interest buys. The choice can be changed at any time and applies to the next daily buy.

The daily buy

Buying once a day, for everyone at once, keeps costs low and the process simple to follow.

  • When. Once per day while the US market is open: 9:30–16:00 New York time, Monday to Friday, except market holidays. The site header shows the current state.
  • How. The vault harvests the interest of all depositors and makes one grouped purchase per stock, then credits each depositor with their share.
  • If a stock can’t be bought. When a Stock Token is halted or paused, or its oracle is frozen, its part of the flow is carried over to the next business day.
  • Claiming. Purchased shares accumulate in your name. You claim them when you want.

Withdrawals

Your capital is withdrawable 1:1 at any time, with no lock-up and no fee on the principal.

Withdrawals depend on the liquidity available on the lending market. If most of the market’s USDG is currently lent out, you may only be able to withdraw part of your deposit right away and the rest as liquidity returns. See Risks.

Withdrawing stops the interest on the amount withdrawn. Shares already bought stay yours, and unclaimed shares remain claimable.

Endow a wallet

Keep the dollars, give the stocks. “Endow a wallet” lets you keep your capital in your own wallet while directing the flow of shares to another address — a second wallet of yours, or someone else’s.

  • The capital and the withdrawal rights stay with the depositor.
  • The shares accumulate in the name of the wallet you endow, which claims them.
  • You can change the recipient or stop endowing at any time.

Fees & $ENDW

The protocol takes 10% of the interest it harvests. Never a fee on the capital.

The reserve is set aside to help cover depositors’ capital. It is a buffer, not a promise: see Risks.

An illustration

Deposit 2,000 USDG at an illustrative 5.5% annual rate. Over a year the lending market would pay about 110 USDG of interest; 11 USDG goes to the protocol and about 99 USDG buys Stock Tokens, at constant prices. Your 2,000 USDG is still there. The real rate is variable and can be lower, higher or zero.

Risks

Endow is experimental software. Read this before depositing anything you can’t afford to lose. Nothing here is financial advice.

  • Smart contract risk. Endow’s contracts and the lending market’s contracts can contain bugs or be exploited. Audits reduce this risk; they do not remove it. A failure in either could lead to a partial or total loss of funds.
  • Variable rate. The interest rate is set by the lending market and changes continuously. It can fall to zero, in which case no stocks are bought. Every rate on this site is an illustration.
  • Withdrawals depend on liquidity. You can withdraw only what the lending market can return. In periods of high utilisation, withdrawals can be delayed or partial.
  • USDG risk. The vault holds USDG. A stablecoin can lose its peg, be frozen, or be affected by regulation or by the issuer’s decisions. If USDG loses value, so does your capital.
  • Stock Tokens are not shares. Stock Tokens are debt securities issued by Robinhood. They are not shares of the company and carry no ownership or voting rights. Their price can differ from the underlying stock and can fall.
  • Issuer control. The issuer can pause Stock Tokens. When a token is paused, halted, or its oracle is frozen, Endow can’t buy it and carries its share of the flow to the next business day.
  • Availability. Stock Tokens are not available to US residents or in certain jurisdictions. It is your responsibility to check whether you may hold them before using Endow.
  • Reserve is not a guarantee. The principal reserve is funded from fees and may be insufficient, or empty, in a loss event.
  • Independence. Endow is an independent protocol, not affiliated with Robinhood. It is built on Robinhood Chain and depends on third-party infrastructure that can change or fail.

FAQ

If stocks fall, do I lose my capital?

No stock is bought with your capital — only with its interest — so a falling share price doesn’t touch the principal. The principal can still be affected by the risks listed above.

Is the rate fixed?

No. It is variable and comes from the lending market. Any number you see on the site is an illustration.

When does the vault open?

At the same time as the token. Until then nothing on the site is functional, including the simulator.

Can I withdraw at any time?

Yes, 1:1, subject to the liquidity available on the lending market at that moment.

What happens if my stock is halted?

Its share of the flow is carried to the next business day. Nothing is lost; it is bought later.

Can I change what my interest buys?

Yes, at any time. The change applies to the next daily buy.

What does $ENDW do?

50% of the fee buys back and burns $ENDW, 30% goes to $ENDW stakers in Stock Tokens, and 20% fills the principal reserve.

Who can use Endow?

Stock Tokens are not available to US residents or in some jurisdictions. Check the rules that apply to you before depositing.