Lending against a stock token

Slate exists so that protocols can use stock tokens: lend against them, hold them in vaults, put them in indices. StockLender is the proof. It is a minimal over-collateralised lending market, written the way a third party would write one: it prices collateral through Slate feeds with nothing but Chainlink's AggregatorV3Interface.latestRoundData(). It holds no Slate code and has no special access.

It is a proof, not a product: one loan asset valued at $1, no interest, isolated positions per collateral token, markets listed by the owner, and bad debt is not socialised.

The whole integration

The lender's price read is the integration. A SlateFeed that refuses (a split in progress, a stale or paused oracle, a closed market past the lender's own bound) reverts with FeedUnavailable, and the lender treats any revert as "no price":

try market.feed.latestRoundData() returns (uint80, int256 answer, uint256, uint256 updatedAt, uint80) {
    if (answer <= 0 || updatedAt + market.maxAge < block.timestamp) return (false, 0, updatedAt);
    return (true, uint256(answer), updatedAt);
} catch {
    return (false, 0, 0);
}

With no price, the lender will not lend, will not release collateral against debt, and will not liquidate. Repaying and depositing always work.

Live on Robinhood Chain testnet

	Address
StockLender (TESTUSD loans; TSLA, AMZN, AMD, PLTR, NFLX, labTSLA)	0xb25712c148B676941f160C30a9F57B1551118a20
StockLender on the naive labTSLA feed, LAB ONLY	0x231D8706419162E3CD79fE2DFD2aa2152536CCF3

Each market lends up to 50% of the collateral's value and liquidates above 65%, with a 5% liquidation bonus. The dashboard's Lend section drives it from a wallet.

A loan against Robinhood's NFLX token, 2 October 2026: 0.58 NFLX deposited, NFLX priced at $67.50 a token through its SlateFeed, and 19.57 TESTUSD borrowed, one cent under the limit (transaction). The Borrowed event records the price and the time it was observed.

What a split does to a lender

The same contract, deployed twice on labTSLA: once on its SlateFeed, once on the Lab's naive feed (last share price × the multiplier now). One labTSLA went into each, and a 4:1 split was scheduled from the dashboard (transaction). At the switch:

	Slate-fed lender	Naive-fed lender
1 labTSLA valued at	no price: borrowing paused	$1,484.94, four times its worth
Lent	nothing	742.47 TESTUSD (transaction)
After the post-split price	lends again, up to half of $372.94	owes 742.47 against collateral worth $372.94

The naive-fed lender is left with a loan worth twice its collateral, and liquidating it cannot recover the difference. A reverse split does the opposite: the naive feed prices the token at a quarter of its worth, and the naive-fed lender liquidates healthy loans. The unit tests cover both directions with the same two lenders.

On mainnet

StockLender is live on Robinhood Chain mainnet at 0x66770067Bf690a8eAcA95aCAB896659835704F52: a lender for a token Chainlink cannot price. It takes Paxos USDG as the loan asset and lists the real CRWD token on CRWD's SlateFeed, at 40% loan-to-value with liquidation at 60%. CRWD has no Chainlink feed, so no other lender on Robinhood Chain can value it.

The quote is public. At block 78,972,600 (3 Oct 2026, market closed) it valued one CRWD at $1,079.90, with a borrow limit of 431.96 USDG:

cast call 0x66770067Bf690a8eAcA95aCAB896659835704F52 "quote(address,uint256)(bool,uint256,uint256)" \
  0xea72Ecca2d0f6bFA1394DBBCff85b52CD4233931 1000000000000000000 --rpc-url https://rpc.mainnet.chain.robinhood.com
# true, 1079900000 (= $1,079.90), 431960000 (= 431.96 USDG)

Anyone can supply USDG, and borrowing draws on what is supplied. CRWD itself can be bought on-chain through the Uniswap v4 USDG/CRWD pool (2.945% fee), which quoted 0.01 CRWD at 10.81 USDG on 3 Oct. A fork test runs the whole loan, real USDG against the real CRWD token:

cd contracts && python3 script/rpc_relay.py https://rpc.mainnet.chain.robinhood.com 8548 &
SLATE_FORK=1 SLATE_FORK_URL_rh_mainnet=http://127.0.0.1:8548 \
  forge test --match-test test_usdgLoanAgainstRealCrwd -vv

Tests

• Unit: limits, exact borrow and liquidation arithmetic, staleness, a reverting feed blocking everything but repay and deposit, and the split in both directions against a naive-fed twin.
• Invariant: random sequences of every action, price moves, feed outages and time passing. The books always balance, totals equal their parts, and no borrow, withdrawal or liquidation ever goes through without a usable price or leaves a position over its limit.
• Fork: against Slate's live TSLA feed on testnet, and against the real CRWD token with real USDG on mainnet.