Price feeds

#Chainlink prices the Reserve

The Reserve values every asset with a Chainlink feed on Robinhood Chain. Each of the seven eligible stock tokens has its own tokenized-equity feed. Unconverted ETH is valued with the ETH/USD feed. Feed proxy addresses are in Contract addresses.

backing = sum( balance[i] × price[i] ) ÷ total supply

Backing per $KYZN updates every block from the latest published prices. See The Reserve.

#Feeds are classed high risk

Chainlink classes the tokenized-equity feeds as high risk. The Reserve treats every feed as fallible. It checks the age of each price it uses. It bounds every purchase against the feed price. It needs no price to pay a redemption.

#Feeds update 24/5

Tokenized-equity feeds update 24 hours a day, five days a week. When markets close, each feed holds its last price. No heartbeat publishes outside market hours, so updatedAt stays at the last update until trading resumes. Over a weekend, every equity price the Reserve reads is the last price published before the close.

#Corporate actions pause feeds

A feed pauses during a corporate action on its stock. The issuer holds pauseOracle and updates the token multiplier for corporate actions. The feed price already includes the multiplier. The Reserve values a holding as balance times feed price and never applies the multiplier a second time.

#The Reserve reads updatedAt

Every Chainlink price carries an updatedAt time. The Reserve reads it with each price and applies staleness bounds. A purchase fills only with a price inside those bounds.

age = block time − updatedAt

The age of an equity price rises through every weekend and every corporate-action pause. Backing uses the last published price throughout.

#Purchases carry a price bound

A keeper converts the Reserve's ETH into chip equity in slices, time-weighted across the trading session. The contract enforces a maximum slice. It also enforces a Chainlink price bound, so a fill priced too far from the feed is rejected.

The buy discipline is set out in full in The Reserve.

#Redemption needs no price

Redemption pays in kind. It transfers units of each Reserve asset, not a dollar amount. The formula uses balances and total supply only. A stale or paused feed does not change what a redemption pays.

out[i] = balance[i] × ( b ÷ total supply ) × 0.98

The backing figure uses feed prices. The assets paid do not. See Redemption.

#Each action reads feeds differently

#Synthetics use separate oracles

Silicon synthetics track chip commodities that have no equity, so no stock feed prices them. GPU-hour markets price from public rental spot markets, sampled hourly. DRAM, HBM4 and CoWoS price from the Kyzen Network attested feed.