Pricing Architecture
Separation of indicative data, executable premium, risk values and settlement observation.
#Four price roles
| Role | Question |
|---|---|
| Display | What is a useful indication? |
| Execution | At what premium can this size trade now? |
| Risk | Is the position within defined bounds? |
| Settlement | Which final observation determines obligations? |
#Source separation
- Underlying-equity bid and ask from the Stock Token API.
- Multiplier-adjusted Stock Token price from the onchain Chainlink feed.
- Executable RFQ, order-book or mechanism state for premium.
- Explicit terminal source and timestamp for settlement.
A valid model value is not an executable price. A valid onchain price is not a liquidity guarantee.
#Price controls
- Bind source, asset, unit and timestamp.
- Reject stale, paused, negative or dimensionally inconsistent values.
- Check sequencer state on Robinhood Chain.
- Apply the Stock Token multiplier exactly once.