There’s a much bigger shift happening here than just tokenising individual assets. Gold, silver, oil and treasuries are already live on Robinhood Chain the next step is actually building financial products around them. That’s exactly why we launched INDX Hard Assets. Instead of treating GLD, SGOV, SLV and USO as four isolated tokens you have to manage separately, we put them into one rules-based onchain basket with a USDG reserve, Chainlink pricing and the same Depth Engine we built for Small Cap Utility. So you get exposure to hard assets through one position, while part of the Reserve can provide liquidity underneath those markets, earn real swap fees and feed them back through Settlement to holders and NAV. Tokenisation gets the assets onchain. The interesting part now is what gets built on top of them. And our Hard Assets ETF is only one example of where we’re taking this. We’ve got plenty of new baskets already being worked on across different parts of the market, each using the same INDX infrastructure underneath. That’s the part we’re focused on now: turning isolated onchain assets into complete investable markets. @RobinhoodApp @vladtenev

Part of the index's reserve sits in those pools as liquidity. we call it Depth. when someone swaps through an INDX pool, they pay a fee, and because the Depth is providing the liquidity, the fee is earned by the index. how the Engine sets the fee the Engine doesn't charge one flat rate. it sets a separate buy fee and sell fee for each token, anywhere from 0.05% to 2%, based on how much of that token the index holds against its target weight: → index holds too much of a token? buying it from us gets cheaper, selling more to us costs more → holds too little? the opposite → on target? both sides sit at 0.30% so traders are paid to push the basket back to its targets, and every trade still pays a fee. the fees move in small steps every cycle, inside hard limits written into the contracts. a keeper bot also keeps each pool's price lined up with the real market price, so swaps through INDX pools happen at fair prices. why fees grow with TVL Depth is sized from TVL: up to 5% of the reserve today, with a 30% hard cap in the contract. more deposits → a bigger reserve → more Depth in every pool → deeper liquidity → less slippage for traders → routers and traders send more swaps through INDX pools → more fees. at $100 TVL the pools are shallow, so fees are cents. at $100k, the same pools are 1,000x deeper. fees scale with the liquidity and the flow it attracts. how Settlement pays holders 1. the keeper harvests the fees from each pool 2. the contract splits them: 50% to holders, 50% stays in the reserve and raises NAV 3. the holder half goes into the current payout window. there are 3 a day, closing 00:00, 08:00 and 16:00 UTC 4. when a window closes it's sealed onchain, and its payout rate is fixed forever 5. your share is calculated in share-seconds: how many shares you held × how many seconds you held them. hold all window, you get the full weight. buy 10 minutes before the close, you get 10 minutes' worth. sell halfway, you keep what you earned up to that point 6. you're paid in the tokens the fees were earned in, plus USDG. nothing expires. claim whenever you want from the Earnings page, and it shows exactly what you'll get before you sign no emissions, no printed rewards, no team cut. every fee comes from a real swap, and every step is onchain. to earn, hold shares of an index: INDX Small Cap Utility, or INDXH for Hard Assets. mint them at indx.world/app.

INDX Hard Assets is live. gold, US treasuries, silver and oil. one token. on Robinhood Chain. → 35% gold (GLD) → 25% short-term treasuries (SGOV) → 15% silver (SLV) → 15% oil (USO) → 10% USDG reserve one token. 4 hard assets. 1 USDG reserve. the first hard-asset ETF index on Robinhood Chain. we checked the whole chain: nothing like it existed until today. every asset is an official Robinhood Token, priced by Chainlink. 22 contracts, all source-verified, governed by a 2-of-3 Safe. and it doesn't just sit there. it runs our Depth Engine: part of the reserve works as liquidity in each asset's own pool, and every swap pays a fee. 50% of those fees go to holders from day one. 3 payouts a day, weighted by how long you hold. claim anytime from Earnings. how to get in: 1. go to indx.world/app 2. Indexes → Hard Assets → Deposit 3. deposit USDG (5 minimum) 4. you receive INDX Hard Assets shares (INDXH), your slice of the whole basket 5. hold your INDXH and earn withdraw anytime: burn your INDXH for USDG or for the 4 tokens. indx.world

some of you have been guessing all weekend. a few of you got close. one of you nailed it. index 02 is INDX Hard Assets. launching tonight. gold, US treasuries, silver and oil in one token, on Robinhood Chain. what's in it: → 35% gold (GLD) → 25% short-term US treasuries (SGOV) → 15% silver (SLV) → 15% oil (USO) → 10% USDG reserve one token. 4 hard assets. 1 USDG reserve. every one of them an official Robinhood Token. priced by Chainlink, not by whoever's pumping a pool. why it's a first: we scanned Robinhood Chain before building this. every token, every pool, every contract holding these assets. nobody has put them together into one basket. there's no hard-asset index on this chain. until tonight. why it's different: this isn't a wrapper sitting still. it runs the same machine as our Small Cap index. → the Depth Engine: part of the reserve provides liquidity in each asset's own INDX pool. every swap pays a fee, priced per side by our Uniswap v4 hook to pull the basket back to its target weights → Settlement from block one: 50% of Engine fees go to holders. 3 payout windows a day, weighted by how long you hold, claim anytime → built for real-world assets: if an issuer ever pauses a token, withdrawals still pay out everything else, and your share of the paused one is held as a claim until it moves again. minting pauses when real markets close, so nobody can buy in at a stale price. withdrawing never pauses one token. four assets you already know. an engine that pays you to hold it. the contracts have been onchain and verified all weekend. they're open. tonight. indx.world

gm. INDX Small Cap Utility, this morning: TVL: $89, closing in on $100 NAV per share: $1.05 Engine Depth: $2.01 working inside the pools small numbers, real numbers. every one of them onchain and live at indx.world. what's new: Settlement is live. own shares of the index and you earn from the Engine. every swap through an INDX pool pays a fee to the Depth, the keeper harvests it, and 50% goes to shareholders. the other 50% compounds into NAV. → 3 payout windows a day: 00:00 / 08:00 / 16:00 UTC → weighted by how much you hold and how long you held it → paid in the tokens the fees were earned in → claim anytime from the Earnings page to earn you need shares of the index, minted at indx.world/app. payouts start small because Depth is sized off TVL. the flywheel: more TVL → more Depth → more fees → bigger payouts. and one more thing. the markets are open again, which means index 02 is next. the contracts have been sitting onchain since last night waiting for this. $100 TVL is the first milestone. who's getting us there? indx.world

the INDX Small Cap Utility index now pays its holders. Settlement is live on Robinhood Chain. Hold shares of the index and you earn from every swap that routes through its markets. No emissions, no printed rewards: real swap fees, paid out in real tokens. here's how it works, properly. the index deposit USDG at indx.world/app and you mint shares of the INDX Small Cap Utility index. one token, backed 1:1 by a basket of 10 Robinhood Chain small caps plus a USDG reserve, all held onchain in the vault. NAV is recorded every few minutes. withdraw any time. the Depth Engine part of that reserve doesn't just sit there. up to 5% of it (hard-capped at 30% in the contract) works as Depth: liquidity inside each constituent's own Uniswap v4 pool. every one of those pools runs our Engine, a v4 hook that prices every swap. buy and sell fees are set separately, per market, from 0.05% to 2%. if the index holds too much of a token, buying it from us gets cheaper and selling more to us costs more. too little, the reverse. traders get paid to push the basket back to its targets, and every swap pays the Depth a fee. the keeper harvests those fees on a schedule. every change is onchain and on the activity page. Settlement: of every harvest, 50% goes to shareholders. the other 50% compounds straight into NAV, so the index gets heavier either way. → 3 payout windows a day: 00:00, 08:00 and 16:00 UTC → weighted by share-seconds: how much you hold × how long you held it. buy 10 minutes before the close and you get 10 minutes' worth. sell mid-window and you keep what you earned up to that moment → paid in the tokens the fees were earned in, plus USDG → nothing expires. claim whenever you want, the app shows exactly what claim() pays before you sign to earn, you need shares of the index. this is for holders of the index, minted at indx.world/app. no shares, no payout. the honest part: it starts small. right now payouts are cents, because Depth is sized off TVL and TVL is early. but this is how it compounds: more deposits → a bigger reserve → more Depth in every pool → more swaps priced by the Engine → more fees → bigger payouts to shareholders. the payout grows with the index, and the index grows with the people in it. rehearsed on a mainnet fork before launch. every contract source-verified. governed by a 2-of-3 Safe. first window closes 00:00 UTC. indx.world

index ETF 02 is infrastructure live on Robinhood Chain in preparation for our release 17 contracts deployed, every one source-verified on Sourcify. Vault robinhoodchain.blockscout.co… Token robinhoodchain.blockscout.co… Router robinhoodchain.blockscout.co… Reserve Controller robinhoodchain.blockscout.co… Engine Controller robinhoodchain.blockscout.co… Fee Distributor robinhoodchain.blockscout.co… Mint Zap robinhoodchain.blockscout.co… Swap Venue robinhoodchain.blockscout.co… Price Registry robinhoodchain.blockscout.co… Chainlink Price Adapter robinhoodchain.blockscout.co… Asset Registry robinhoodchain.blockscout.co… Asset Status robinhoodchain.blockscout.co… Benchmark robinhoodchain.blockscout.co… Methodology Registry robinhoodchain.blockscout.co… Rebalance Manager robinhoodchain.blockscout.co… Rebalance Executor robinhoodchain.blockscout.co… Keeper Metrics robinhoodchain.blockscout.co… contracts are onchain. now we prepare the next steps: first mint, Engine markets, then the Safe takes control. minting doesn't open yet. part of this basket is priced by feeds that follow real-world market hours, and those markets are closed for the weekend. once they reopen tonight, we finish the launch and minting goes live. that's your hint. nothing like this basket exists on this chain. we checked. the ones who read contracts already know what's in it. everyone else: guess the basket 👀

new contracts going up tonight. index 02. nothing like it exists on Robinhood Chain. we checked. 5 assets. one token. same Engine, same Depth. except these ones aren't memecoins or small caps. you already know every one of them. guess the basket 👀

what you're looking at on the INDX activity page: the index has a target weight for each token. the Engine prices trades to pull it back there. ORBIO: buy 0.21% / sell 0.59% → index holds too much. cheap to take it off us, dear to add more musebook: buy 0.99% / sell 0.15% → index holds too little. the reverse on target = 0.30% both ways. fees move in small steps each cycle, inside hard limits. Depth follows the same logic. every trader nudges the index back on target just by taking the cheaper side. all onchain. every change timestamped. indx.world

INDX: official links 📌 Everything official in one place. 🌐 Website indx.world 📊 App indx.world/app 📖 Docs + deployed contracts indx.world/docs 💬 Telegram t.me/indexcommunityportal 🪙 $INDX contract address 0xFb5BD7f984Ea18B66ED3a51AC45b182b7C417d4f For safety: → we will never DM first → we will never ask for a seed phrase or private key → there is no support wallet or migration address → always verify the CA against the website or this post If it isn’t listed here, it isn’t official. nitter.cf/indxdepth

Some testing this morning for the next release: Settlement. Everything in the video is a real transaction, run against a full local copy of Robinhood Chain mainnet. The setup is a mainnet fork pinned to a recent block. Same contracts, same storage, same pools, same Engine state as live, running on our own machine. On a fork we can act as any address, so we act as our 2-of-3 Safe and send exactly the transactions it will send on launch day. Nothing touches the live chain, and the fork is thrown away at the end. Turning Settlement on turned out to be small, because most of it has been running since launch. The FeeDistributor is already deployed and already registered as the INDX share token's balance observer. Every mint, burn and transfer since day one has been reported to it, so it already knows every holder's balance history and there's nothing to migrate. What's left is two calls from the Safe: register the 11 payout assets (the 10 constituents plus USDG), and set the fee split on the ReserveController to 5000 bps. That's the first thing you see in the video, each call with its hash, block and gas. How the payout works: every constituent market is a Uniswap v4 pool with our hook on it, and part of the Reserve, the Depth Sleeve, sits in those pools as liquidity. When the keeper harvests a market's fees, the ReserveController books them into the Reserve and releases the holders' share to the distributor in the same call. The distributor credits whatever actually arrived. It measures its own balance rather than trusting the amount it was told, and banks it into the current 8-hour epoch. The part we care most about is how an epoch gets divided. Most epoch payouts split by balance at the closing instant, which hands a full epoch's earnings to capital that showed up a second before the close. Ours divides by share-seconds. A share held for the whole 8 hours earns the full weight; a share held for ten minutes earns ten minutes' worth. There's no snapshot to front-run, because there is no snapshot. To keep that cheap, the contract stores a running sum of each sealed epoch's rate. A holder who's been idle for a thousand epochs settles in one subtraction, not a thousand loop iterations. Sealing is permissionless and bounded to 200 epochs per call, so it can never outgrow the block gas limit and strand fees. Claims are pull-based, and they pay out in the tokens the fees were earned in. No swaps sit between the pool and the holder skimming spread off holder revenue. The test itself: a fresh epoch opens, and a $10,000 deposit lands one minute in, a single MintZap transaction buying all ten constituents. The keeper runs its normal Engine cycle (updateAllFees, then allocateDepthMany) and Depth goes into all nine pools, from about $1.81 to $336. Then a test trader round-trips swaps through each INDX pool. Every one of them goes PoolManager.unlock → beforeSwap sets the fee → swap → afterSwap emits Flow. Those swaps are what earn the fees Settlement will pay out. Part 2 is the rest of the epoch. The keeper harvests, and half goes to holders, half compounds into NAV. A second wallet deposits the same $10,000 ten minutes before the close, and the epoch seals. Then we read out exactly what each wallet is owed, and whether the ten-minute wallet gets ten minutes' worth. Same Uniswap v4 primitive, same contracts that are already live. Settlement goes on by a Safe transaction, and we'll announce it before it does. Contracts are verified and public: indx.world/docs

Every INDX contract, what it does, and who controls it 🧾 INDX runs on Robinhood Chain through a set of contracts. Here’s the full stack, with links so everything can be verified. First, control 🔐 Governor: 2-of-3 Safe robinhoodchain.blockscout.co… Every contract below is governed by this Safe. Any setting change requires 2 of 3 signers. 🛑 Guardian: pause only robinhoodchain.blockscout.co… Can pause in an emergency. Cannot unpause or change settings. Only the Safe can unpause. ✅ Across the stack: No proxies or upgrades All source verified Deployer wallet has no roles No admin withdrawal path Reserve assets leave through redemption or protocol fee routing The Reserve + token 🏦 IndexVault robinhoodchain.blockscout.co… Holds the Reserve and accounts for every unit as Core, Depth or fees. Depth is 5% today, hard-capped at 30%, with at least 10% remaining in Core. 🪙 IndexShare robinhoodchain.blockscout.co… The index share token. No owner. Only the Vault can mint or burn, and only against real backing. Supply cap: 50,000. 🚪 IndexRouter robinhoodchain.blockscout.co… Handles deposits and withdrawals. Shares are minted against value that actually lands. In-kind withdrawals have no pause switch. ⚡ MintZap robinhoodchain.blockscout.co… Turns USDG into the full basket in one transaction, and back again, with user-set minimum output. Pricing 📊 PriceRegistry robinhoodchain.blockscout.co… The pricing source for NAV. Unsafe or stale prices are rejected, not guessed. 🔗 ChainlinkPriceAdapter robinhoodchain.blockscout.co… Chainlink pricing, currently used for USDG/USD. 📈 UniV3TwapAdapter robinhoodchain.blockscout.co… Time-weighted Uniswap v3 pricing so one trade cannot move NAV. ⏱️ V4TwapRecorder robinhoodchain.blockscout.co… Records price history for v4 pools. The index rules 📜 MethodologyRegistry robinhoodchain.blockscout.co… Eligibility, 15% max weight and 30-day review cycle. 🗂️ AssetRegistry robinhoodchain.blockscout.co… Defines which assets are permitted and their status. 📐 IndexBenchmark robinhoodchain.blockscout.co… Keeps benchmark performance separate from NAV. ⚖️ RebalanceManager + RebalanceExecutor robinhoodchain.blockscout.co… robinhoodchain.blockscout.co… Proposal → timelock → execution for basket changes. 📡 KeeperMetrics robinhoodchain.blockscout.co… Posts market cap, liquidity and volume for methodology checks. The Engine ⚙️ V4IndexEngine robinhoodchain.blockscout.co… The Uniswap v4 hook on every INDX pool. Sets each swap’s fee from basket state and records every trade as Flow. 🧠 EngineController robinhoodchain.blockscout.co… Calculates market fees from each constituent’s weight versus its Band. 💧 ReserveController robinhoodchain.blockscout.co… Moves Depth between the Reserve and markets, harvests fees and unwinds Depth when redemptions need capital. Keeper actions remain inside Vault limits. 🏪 Market adapters ORBIO robinhoodchain.blockscout.co… Index robinhoodchain.blockscout.co… WALLET robinhoodchain.blockscout.co… DELTA robinhoodchain.blockscout.co… musebook robinhoodchain.blockscout.co… PRISM robinhoodchain.blockscout.co… STATICS robinhoodchain.blockscout.co… HOOKR robinhoodchain.blockscout.co… PROLOGUE robinhoodchain.blockscout.co… Each adapter manages one INDX pool and refuses new Depth if pool price is >1% from oracle. 🔀 UniV2V3Venue robinhoodchain.blockscout.co… Approved trade routes used by the USDG deposit/withdraw path. Coming soon: Settlement 💰 FeeDistributor robinhoodchain.blockscout.co… Already deployed and verified. Epochs close every 8 hours, with payouts weighted by holding time. Disabled for now; activation requires a Safe transaction and will be announced first. Everything is public: code, owners and limits. Don’t trust us. Read the contracts. 🌐 indx.world

INDX dev log, day 3: slow Saturday (sort of) ☕ Started the day saying charts were running locally. Ended it with a lot more live. Here's the round-up. 📈 Charts and history: shipped - NAV per share, TVL and Engine Depth, charted back to launch - Hourly volume for every market, built from the Engine hook's Flow events - Every swap per market: size, direction, fee, trader - A cleaner activity feed: one line per deposit or withdrawal, fee changes only when they move All of it is served by our own indexer, now hosted in production and reading straight from the chain. Hours the index couldn't be priced show as gaps, not made-up numbers. 📊 Constituents, now with real numbers The constituents table now shows live price, 24h change, market cap, liquidity, and each project's contribution to the index's daily move. Today's example: one constituent dropped 33% in 24h and cost the index just 1.15%. That's the point of holding the basket. 💸 Lower minimum: $25 → $5 A deposit's network fee is roughly fixed (about $0.93 right now), so the app now shows it as a share of your deposit before you confirm. Small deposits welcome, no surprises. 🔁 Withdrawals are simpler Withdrawing now defaults to USDG, matching deposits. Taking your share as the 10 tokens is still one click away, and it can never be switched off. 🐛 Bugs squashed - NAV per share showed a dash on the Overview page. Now it's live. - Charts and notices were squashed on mobile. Fixed: everything stacks properly on phones now. - Our indexer was mistaking quiet stretches for chain reorgs and re-scanning constantly. Fixed before it went to production. 🎥 Walkthrough A full video walkthrough is out, from connecting your wallet to depositing and finding your INDX. Start there if you're new. 🔜 Coming soon: Settlement Hold INDX, earn a share of the fees the Engine's Depth makes in its markets, weighted by how long you held. And something heavier is in the works. More on that soon 👀 indx.world

Can't decide which Robinhood Chain microcap to back? Don't. Own all of them. INDX Small Cap Utility-ETF is one token that holds a basket of 10 micro-cap Robinhood Chain projects: $ORBIO $INDEX $WALLET $DELTA $MUSEBOOK $STANDARD $PRISM $STATICS $HOOKR $PROLOGUE, plus a slice of USDG. Think of it like an index fund or ETF, but onchain, 24/7, and with its own market-making Engine built in. Why a basket beats picking one Microcaps move hard in both directions. Picking one is a coin flip on which team ships, which chart runs, and which one quietly dies. With INDX you don't have to guess: 📈 One runs, you're in it. If a project with a 10% weight doubles, your whole position is up about 10%, without needing to have picked it. 📉 One dumps, it's cushioned. If a project with a 10% weight goes to zero, you're down about 10%, not 100%. No single project can make up more than 15% of the basket. 🔁 It stays balanced. Every project has a target weight and a band around it. When one drifts out of line, the Engine pulls it back. 🔍 The line-up is reviewed. Every 30 days the basket is re-screened against a published methodology: Robinhood Chain utility projects under a $50M market cap. Projects can come in and go out. The Engine: what makes INDX different Most index products are passive. INDX isn't. ⚙️ INDX runs its own trading pools for every project in the basket, powered by a Uniswap v4 hook we call the Engine. 💧 Part of the basket (Depth) sits in those pools as liquidity, so INDX helps make the markets it holds. 🎯 The Engine watches every project's weight and adjusts the pool fees to match. If the basket holds too much of a token, buying it from the pool gets cheaper and selling into it gets dearer, so normal trading pulls the basket back to target. 💰 The trading fees those pools earn go back into the basket, which lifts the value of every INDX. Other baskets pay to rebalance. INDX gets paid to. 🔜 Coming soon: Settlement. Hold INDX and earn a share of the Engine's fees, paid out in USDG. What it means for you ✅ Exposure to the whole Robinhood Chain small-cap scene in one click ✅ No research rabbit hole, no picking winners ✅ Rebalancing done for you, automatically, onchain ✅ The basket earns trading fees while you hold ✅ Everything is visible: live NAV, history charts, every swap and fee, all read straight from the chain What you need ✅ USDG on Robinhood Chain (minimum $5) ✅ A little ETH on Robinhood Chain for gas (about $1) How to get INDX 1️⃣ Go to indx.world → Launch app 2️⃣ Connect your wallet. If you're on the wrong network, it asks to switch you to Robinhood Chain. Say yes. 3️⃣ Click Deposit and type how much USDG 4️⃣ The app shows exactly what it'll buy for you, and the network fee, and fills in everything else 5️⃣ Tick the box → Deposit → your wallet asks twice (approve, then deposit) That's it. INDX Small Cap Utility lands in your wallet. Where are my INDX? 📊 In the app, open Portfolio to see your INDX, what they're worth, and exactly how much of each project you own. 🦊 In MetaMask, go to Import tokens and paste the INDX address: 0x100Df87128Be9A3D0A30f86493723248569d206f How do I get out? Withdraw tab → pick how much → get it back as USDG, or as the 10 tokens themselves. Taking it back as the 10 tokens can never be switched off, by anyone. 🎥 Watch the full walkthrough below 🌐 indx.world

Charts and history are live on INDX 📈 This morning we said it was running locally. It's now in production. What's new in the app: 📈 NAV per share, TVL and Engine Depth, charted back to launch 📊 Hourly volume for every market 🔁 Every swap per market: size, direction, the fee the Engine charged, and who traded 🧾 A cleaner activity feed: one line per deposit or withdrawal, fee changes only when a fee actually moves, each Engine cycle as a single entry Why this, why now: Until today the app showed you the index as it is right now. Live NAV, live Depth, live fees. What it couldn't show was how it got there. An index you can't look back on is an index you have to take on trust. We'd rather you didn't have to. So everything on these charts comes straight from the chain. NAV is read from the contracts at past blocks, hour by hour since launch. Volume is built from the Flow events our Engine hook emits on every swap, not estimated from prices. You'll notice two gaps in the NAV line. We left them in on purpose: ⛔ Sep 24, ~5h: launch day. PRISM's price oracle went stale when bot trading overwrote its price history faster than the oracle could use it. We gave the pool a longer history and it's been solid since. ⛔ Sep 25, ~2h: our keeper ran out of gas and stopped recording prices. Topped up, back within minutes. In both, the contracts refused to price the index rather than guess. Deposits paused; withdrawals kept working, because they never need a price. A chart that joined those dots would be showing you prices the index never had. It's also how you check the Engine is doing its job: you can watch fees move, see the flow they pull in, and follow Depth over time, market by market. Launch → live Engine → live stats → full history. Every piece is on the chain, and now you can see all of it. indx.world/app/

Today on INDX: charts and history. Until now the app has shown you the index as it is right now: NAV, TVL, Depth, fees, all read live from the chain. What it couldn't show was how it got there. The catch: history isn't something you can read from a contract. The chain only knows the present. To draw a chart you have to go back and ask what the index was worth at every point along the way. So we built an indexer that does exactly that. It replays the chain from the launch block and calls the router, vault and share contracts at past blocks, rebuilding hourly NAV per share, TVL and Engine Depth back to day one. After that it takes a fresh snapshot about every 10 minutes. Volume works the same way. Every swap through an INDX pool fires a Flow event from the Engine's hook, so each market's volume is built from real trades, not estimates. Coming to the app today: 📈 NAV, TVL and Depth history since launch 📊 Hourly volume for every market 🔁 Every swap per market: size, direction, fee 🧾 A cleaner activity feed: one line per deposit, fee changes only when they move Running locally already. Today it goes to production 🔧 Oh, and someone said new basket? 👀 Small Cap Utility was the first. It won't be the last. Same Engine, same Depth, a whole new set of markets. RWA season incoming? More soon.

INDX dev log, day 2 This morning we showed the Engine running. It's a Uniswap v4 hook on every INDX pool. beforeSwap returns a fee override on each swap, based on where that market's inventory sits against its band. Overweight markets get a cheaper buy fee and a dearer sell fee; underweight markets get the reverse. The base fee is 0.30%, bounded between 0.05% and 2%. afterSwap emits a Flow event for every trade, so volume comes straight from chain events rather than being estimated. Buybacks. We did our first INDX buybacks today. Pool sync shipped. There's a new PoolSync contract, deployed with CREATE2 - PoolSync: robinhoodchain.blockscout.co… - Keeper swap route (UniV2V3Venue): robinhoodchain.blockscout.co… Before the Engine adds Depth, the keeper compares each pool's price to the oracle. If a pool has drifted, it swaps through the PoolManager with sqrtPriceLimit set to the oracle price, so the pool can't overshoot. Empty pools are skipped, and each pool runs on its own so one revert can't block the rest. All 8 pools with liquidity synced on the first run. The Engine also refuses to add Depth to any pool more than 1% off the oracle. Keeper hardening. The keeper is one process on three timers: price records every 250s, pool sync every 20 minutes, and an Engine cycle (updateAllFees → allocateDepthMany) every 4 hours. Each transaction now goes through its own queue with a 30s RPC timeout and a bounded wait for its receipt, so one slow call can't stall the jobs behind it. The faster price recording keeps the v4 TWAP fed: it needs 5 observations in a 30-minute window. PRISM oracle fix. The PRISM v3 pool's TWAP went stale because bot trading was overwriting its 128 price observations faster than the oracle's window. We raised its observation cardinality to 400, and pricing recovered. Engine stats on the app. Every market shows its Depth, utilization, live buy and sell fees, and 24h Flow. 24h Flow is one eth_getLogs over about 860k blocks of hook Flow events, keyed by pool id, summing the USDG side of each swap. There's no backend in the way. App fixes. Wallet disconnect and switch account, a wrong-network fallback instead of a blank page, and a fix for a deposit showing "failed" when it had actually gone through. Gas estimates now have headroom, and receipt polling carries on through RPC errors instead of giving up. Earnings is marked "Soon" until settlement is live. The docs list every deployed contract. Tomorrow: charts and history. It's running on locally now: - The indexer calls the router, vault and share at past blocks to rebuild hourly NAV per share, TVL and Engine Depth back to the launch block. While it follows the chain, it adds a snapshot every 6,000 blocks, about every 10 minutes. Hours when the index couldn't be priced are left as gaps, not zeros. - Hourly volume per market, from Flow events bucketed by pool id and read on the USDG side. - Every swap listed per market, with size, direction, fee and trader. - A cleaned-up activity feed. The indexer logs every event, so the feed shows one line per deposit or withdrawal, a fee change only when a fee actually moved, and each Engine cycle's Depth moves as a single line. Next step is hosting the indexer, then it goes live.

Three $INDX buybacks executed onchain today. Alongside everything we’ve been shipping across INDX, we’ve also been steadily putting capital back into the market. Today was simple: → Buyback 01 executed → Buyback 02 executed → Buyback 03 executed → all three settled on Robinhood Chain TX 01 robin.etherscan.io/tx/0x2340… TX 02 robin.etherscan.io/tx/0xc278… TX 03 robin.etherscan.io/tx/0x723a… We’re building the index, the markets underneath it, and the economics around it at the same time. Three buybacks today. Back to shipping.

Shipped: live Engine stats in the INDX app. Every one of the Engine's nine markets now shows exactly what it's doing, read straight from the chain: Depth: the value of the liquidity the index is providing in that market's pool, at the Reserve's own prices. 24h Flow: everything traded through that pool in the last day. Read directly from our hook: every swap through an INDX pool writes an on-chain Flow record, so there's no indexer or database in between. Utilization: how much of the Engine's Depth target that market is using. Fee: the live buy and sell fee our hook charges, set by the Engine. Band status: where the constituent sits against its target Band. That last pair is where you can watch the Engine think. Right now musebook sits underweight: the index holds less of it than the methodology says it should. So the Engine has moved its fees: buying musebook from our pool now costs 0.44%, selling it into our pool only 0.24%. Every trade that takes the cheaper side pushes musebook back into the basket, and the index collects the fee while it happens. When a token drifts overweight it flips the other way, and when it's back inside its Band the fee eases back to the 0.30% base. Small, rate-limited steps between 0.05% and 2%, recalculated every cycle. A normal index pays the market to rebalance it. INDX gets the market to rebalance it and takes the fee, and now you can see it doing it, market by market. It's early and the pools are small, but every number on that page is real and live. It also sets up what's next: the fees those markets earn are what settlement will pay out to holders, every 8 hours, weighted by how long you held. Now you'll be able to watch them build. indx.world/app/markets