Skip to documentationBacking & pricing
Supported price sources, their precedence, freshness and the difference between pricing and route liquidity.
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Backing denominates the market
Backing is the asset users exchange against the token and the unit used for taxes, reserves and treasury. It can be WETH, USDG, a supported stock token, a qualifying Sinjoh token or a matching approved external-platform token. It is not a promise that a token’s entire market capitalization is backed one-for-one.
A token’s name or ticker is not its identity. Verify Robinhood stocks against the canonical token contract directory. A supported backing and a token discovered in a wallet are different concepts.
Opening-valuation sources
| Source | How it is read |
|---|---|
| WETH | The fixed 2 ETH opening valuation converts directly to WETH backing. |
| Configured Chainlink feed | Convert through ETH/USD and backing/USD. USDG is not assumed to equal exactly $1. A configured feed takes precedence over a migrated market. |
| Sinjoh token without a configured feed | Use its canonical market’s smoothed price and a priceable backing, one Sinjoh level deep. |
| Canonical Robinhood stock pool fallback | Use the final eligible stock pool in an enabled approved stock path; its quote asset must be WETH or feed-priced. |
| Approved Pons / Long source rule | Read a matching canonical v3/v4 pool directly and convert its feed-priced paired asset or native ETH/WETH. |
External pool pricing follows that pool’s current trading price. It does not add an independent attester price report or a historical averaging gate. Pons v2 tokens that are still on the pre-graduation bonding curve are outside the initially approved pool-traded source rule.
Feed freshness and failures
| Feed class | Accepted age |
|---|---|
| Crypto / stablecoin | Configured heartbeat plus 10% grace. |
| Stock | Up to 96 hours, allowing the last close across weekends/long holidays. |
Nonpositive answers or stale configured feeds are unavailable. A stale configured feed does not silently switch to a pool fallback. Read sources at the relevant observation block: launch execution, reward-round close and historical Portfolio valuation serve different purposes.
Eligibility does not prove conversion capacity
The manifest’s vetted-backing list supports automatic service discovery, alongside qualifying canonical markets and approved platform rules. A discovered token, a pricing source, a registered path and a fully executable sized route are distinct checks. Pool admission does not manufacture stock inventory or trade depth.
For automated conversions, test every hop at the actual amount. An initialized pool can have insufficient useful liquidity, and a pool with zero current active liquidity can still have funded ticks farther away. Inspect actual consumed input and final output instead of ranking pools solely by a raw liquidity number.