Melt a basket of stocks into one token.
Alloy lets anyone build an index — say 30% NVDA, 25% MSFT, 20% GOOGL — and issue a single token backed by the real stock tokens. Mint or redeem at NAV any time, in USDG or in the stocks themselves. Rebalancing and fees run on-chain.
Create, mint, hold, redeem
An alloy token is a claim on a fixed number of units of each stock token, held by its contract. NAV is just those units at today's prices.
Set the recipe
Pick up to ten stock tokens, weights, a rebalancing rule and a fee up to 1% a year.
create(AIT, {NVDA:30, MSFT:25, …})Get tokens at NAV
Pay USDG and the contract buys the basket, or hand over the stock tokens in the right proportions.
mint(1000 USDG) → 7.68 AITTrack the basket
Rebalances by schedule or drift. The pool price stays near NAV because anyone can arbitrage it.
NAV = Σ units × priceTake it apart
Burn the token for USDG, or for the underlying stock tokens with no fee.
redeem(10 AIT) → 3.18 NVDA, …The closed-market rule
Robinhood Chain specificStock tokens trade around the clock, but their prices only update while NYSE is open. If you could mint an index at Friday's frozen NAV after bad news on Saturday, you'd take money from every holder.
So while the market is closed, USDG mints and redeems pay a spread sized to the basket's expected opening gap, and the spread goes to the alloy's holders. In-kind mint and redeem always stay at NAV.