DefiLlama update! Where things stand: PARE's TVL is already tracked on DefiLlama. The yields listing is in review, one pool per series showing the fixed rate for holding pSPY, pAAPL, pQQQ or pPFE to maturity, plus the pPFE/USDG pool with its Merkl rewards in USDG. Their reviewer asked for the series list to come from chain rather than a table, so it now does. Every live vault is listed in a registry contract, and the adapter reads maturity, tokens and pools from the contracts themselves. Why it is worth the effort. Think about who scrolls that page. people holding dollars, comparing pools by rate, by chain and by what backs them. What they usually find is stablecoin farms, LST loops and points. A fixed rate on the S&P 500, set by the market and redeemable for the share itself at maturity, is not something that crowd expects to find there. It will sit in the same sort order as everything else, with a number they can check on chain. Filter by chain, search SPY, and it comes up. Every one of those is a person who did not know PARE existed a minute earlier. DefiLlama also feeds the screeners and aggregators downstream. Get on the yields page once and the rates travel everywhere those pull from.

Buy a Pfizer share for 7.4% less than it costs today. That's pPFE. On 31 Dec 2027 it becomes the full share. Hold it there and you've made 6.3% a year, in shares. Next up: a Morpho market for it, so you can borrow Pfizer shares against your pPFE. Why borrow? Post pPFE, borrow PFE, buy more pPFE, post that as collateral too. Every lap adds more discounted shares. You pay the borrow rate, you keep the discount, and the gap is extra return. Example figures, since the PFE market isn't live yet: at a 2% borrow rate and three laps, that 6.3% lands somewhere around 10 to 12% a year. The real number is whatever the market sets, and the app will show it. All of it is in shares. The dollar value moves with Pfizer's price, up or down, the same as holding the stock. What the loop adds is more shares per dollar you started with.

First look at the new app. Start from what you want to do: a fixed rate, pool rewards, dividends in cash, or a loan. Pick one and it walks you through. Bit more testing left before you can give it a shot!

6.1% fixed on Pfizer. Here's how. The questions we got today, answered. "Where does the yield come from?" The pool sells pPFE, Pfizer with its dividends stripped out, for 0.927 of a share. It's a full share again on 31 Dec 2027. A 7.3% discount over 15 months is 6.1% a year, locked the second you buy. "Why not just stake stables?" Staking pays you to lend dollars. This pays you to hold a stock you wanted anyway. If you'd own Pfizer either way, this is Pfizer plus a rate you know in advance. "What's the catch?" Your money follows Pfizer's price. That's the one variable. The rate doesn't move, even if Pfizer cuts the dividend. "Can I get out?" Any day. Sell it back on Uniswap, the pool takes its usual 0.3% swap fee, no lockup, no maturity to wait for. "Can I go bigger?" On the S&P version, yes. Post pSPY on Morpho, borrow USDG at 0.79%, buy more pSPY. That's the loop. Thin spread on SPY and you're levered to the index, so size it like you mean it.

A few things in the works @PashovAuditGrp starts a second review on 23 September, this time of the contract behind the Pfizer pool. Until they sign off it stays marked "in review" in the app, with exact-amount approvals only. The app is getting a major facelift. One version for everyone, from people who have never held a wallet to people who want every number on screen. The goal here is to make onboarding as smooth as possible. Lots more in store as well, should be a fun week with some exiting things planned with @spicenetio

Merkl rewards on the pPFE/USDG pool are live! From today, 100 USDG a day goes to whoever has liquidity in range in the pPFE/USDG pool on Robinhood Chain, for 30 days. Paid in dollars, on top of the 0.3% swap fee, claimable on Merkl as it accrues. What the rewards work out to, by pool size Rewards only, before fees and before the fixed rate: $10k in the pool: about 365% a year $25k: about 146% $50k: about 73% $100k: about 36% $250k: about 15% The pool is about $10.5k today. Everyone in range shares the same 100 USDG a day, so your share is your slice of the in-range liquidity. Merkl's own page shows roughly double these figures for now because it counts only the USDG side of the pool. Our page works it out on the whole pool. How to get in Three ways on the LP page, one wallet. Have PFE and USDG: one click splits the PFE, puts the pPFE in the pool with your USDG, and leaves the yPFE in your wallet. Have USDG only: part of it buys PFE, the PFE is split, the pPFE goes in with the rest of your USDG, and you keep the yPFE. About 4% of what you deposit comes back to you as the dividend token. Have PFE only: part of it is sold for the USDG the position needs, the rest is split and placed. Every path leaves you holding a Uniswap position you own and yPFE, every Pfizer dividend to the end of 2027, as a token you can hold or sell. Why we are doing this A $10k pool is a demo. A deep pool means a tight price for anyone buying a fixed rate on Pfizer with stablecoins, and a real exit for the lenders and launches that use pPFE. We have funded one month. If the depth shows up and stays, we extend it. Read before you use it The pool is a standard Uniswap v3 pool. The one-click contract behind the LP page is deployed, verified, and in review with our auditors, not yet signed off. It holds nothing between transactions and asks to approve only the exact amounts of the one transaction. Concentrated liquidity earns nothing while the price is outside your range, and the page shows the day that happens with PFE flat. Not investment advice.

Today we're putting Merkl rewards on the pPFE/USDG pool. The goal is depth. A deeper pool means a tighter price for anyone buying a fixed rate on Pfizer, a real exit for lenders and launches that use pPFE, and swap fees that keep LPs here after the rewards stop. Paid in USDG, not a farm token. The reward rate shows on the page next to the 0.3% fee within a few hours.

Stablecoins can now buy a fixed rate on Pfizer in one swap. pPFE trades against USDG on Robinhood Chain as of today: about 6% a year, locked to 31 Dec 2027, and a dollar exit for every pToken use that was waiting on one. Read below!

16 hours since the audited contracts went live. Where we're at, all on chain, treasury excluded: $39.5k of stock split · 47 splits · 22 wallets $11.5k of liquidity from 7 wallets that aren't us 43 swaps across 20 pools First outside lender and first outside borrower on pSPY / USDG Also live: every fixed, yield and lending rate on one page, straight from chain. Someone said they couldn't find the APR. Now you can't miss it. What's next, and it's already built: pPFE / USDG. A dollar pool for the fixed-rate token. Buy 6% fixed on PFE with USDG in one swap, or LP it: your PFE gets split, the pPFE goes in the pool as a normal position, and the yPFE lands in your wallet to sell today or hold to Dec 2027. Same exposure as a PFE/USDG position, with the dividend leg as its own token. Opening this week. Write-up on what a pToken pool unlocks for the chain and for us coming later today.

Posted 1 pSPY, borrowed 200 USDG. Health sat at 43% of the way to liquidation. SPY would need to fall roughly 57% before that position was touched. That's what borrowing against the S&P 500 looks like on PARE. Price only, no dividend in the collateral to mis-account, and the oracle that prices it can tell a dividend from a split.

Robinhood put the stock market on a chain. We built the dividend market next to it. What PARE is, why it wins, and what it could become. The mechanism, the market, the numbers, and the risks.

We're partnering with a well-established name you've probably heard of, to make PARE feel like the app you check every morning. What they're building with us: → fund it from wherever your money already sits → buy, split, trade and earn on one screen → nothing to bridge, nothing to switch, nothing to configure Announcement coming soon!

Woke up to this and read the whole thing twice! @DiamondHandsDig went back to 1602 and spices in sacks to explain what we're building, and made it super easy to understand for all I believe. The Americus Trust section alone is worth the read. Genuinely grateful someone put this much time into understanding PARE. Bull case, bear case, all of it. Legendary stuff.

You hold 10 SPY tokens on Robinhood Chain. Tonight you could: Sell the next six months of dividends. Cash today, keep the upside. Borrow USDG against the SPY. Still own it. Buy someone else's dividends at a discount. Yield without the stock. Do all three. Still holding 100 SPY. A year ago the list was one line long. HODL.