Skywalker.sol🟩

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.

Fun fact. The first dividend ever paid was paid in spices. Yes... Spice. The Dutch East India Company owed its shareholders a return and didn't have the cash. So it paid them in mace. Shareholders had to turn up at the warehouse and collect sacks of it. Some refused and held out for money. Four hundred years later the dividend is a number inside the token. It updates the moment the company declares it, and on PARE you can hold just that part, or sell it before it's even paid. No warehouse. No sacks full of spices. Same idea.

Five days since we went live. Not even a week. Here's what's done and what's coming. Done: four series live, AAPL, SPY, QQQ and PFE, with split, merge, trade and buy from ETH. pSPY is collateral on Morpho, the first lending market for a stock leg on the chain. Pashov Audit Group signed and started, four auditors on one frozen commit, report public in full. You'll see it the day we do. A public oracle page any lender can read. The whole front end rebuilt. The plan, every assumption, at /deck. And early conversations started on cross-chain access to PARE, more when there's something to show. Coming: the audit report published in full, and with it the caps come off and public lending opens. More series, dividend-heavy names first. The loop and the dividend screen, no new contracts needed. A public stats page with splits, volume and fees live. Cross-chain access, so you can reach PARE from wherever your assets already are. And the first dividend through a series, which we'll post the transaction for. Five days was about proving it works and getting it audited. Everything after the report is usage. parestocks.com

Traditional finance runs on one rule: the best trades are for members only. Dividends were the clearest case. Banks traded them among themselves behind ISDAs, clearing accounts and seven-figure minimums. Everyone else held the stock and took what they were given. Then @vladtenev put stocks on chain and handed builders the chance to change that. So we built PARE on Robinhood Chain, for the little guy. The stock and its dividends, as two tokens anyone can hold, trade or borrow against. A few cents, a wallet, no permission. The desks had this trade to themselves for forty years. It’s everyone’s now, and it lives on Robinhood Chain. That’s what DeFi is for. parestocks.com

The biggest dividend product in traditional finance is the index dividend future. ySPY is the same thing for the S&P 500, and anyone can hold it. Quick background. A dividend future is a contract that pays you the dividends of a whole index for a year, without you owning the stocks. Eurex has run them on the EURO STOXX 50 since 2008, and they grew into a $100B market, the flagship of dividend trading. Exchange members only. You need a clearing account to get in. Retail has never traded one. ySPY does the same job for the S&P 500. Hold it and you're owed the dividends of 500 companies until the March maturity, without owning a single share. Anyone with a wallet can buy a fraction of a token. It settles on chain, in SPY, and the collateral, the oracle and the dividend index are public and live. S&P 500 companies pay out over $600 billion a year in dividends, more than any index on earth. The token that carries that yield is a few cents on Robinhood Chain. We're first.