Corpus is live on Robinhood Chain. You can deposit a Robinhood Stock Token, borrow USDG against it at no interest, repay whenever you like, and withdraw. Nine markets are open: AAPL, AMZN, GOOGL, META, MSFT, NVDA, TSLA, QQQ and SPY.
Corpus is a self-repaying loan protocol. Today, it is not repaying anything. That sentence is the reason this is the first post.
What "self-repaying" is supposed to mean
The idea is simple. Your collateral sits in a vault. If the vault earns, the protocol harvests the earnings, converts them to USDG, keeps 10%, and subtracts the rest from your debt. Nobody has to do anything; harvest is permissionless, and a keeper runs it in batches. Over time the loan shrinks on its own, and when it reaches zero, any further yield becomes USDG credit you can claim.
All of that machinery is deployed and tested. Deposits reach the vault. Harvest can be called by anyone. The accounting that splits harvested yield into a protocol cut, a repayment and a credit is there, tested down to the rounding.
Why it produces nothing
Yield, in Corpus, has one definition: the amount by which the vault shares held for your position are worth more than the principal recorded for them.
yield = max(0, convertToAssets(shares) - principal)
Every market at launch points at a Corpus custody vault. A custody vault holds your tokens one for one and does nothing else. Its convertToAssets(shares) is always exactly principal. So the yield is zero, every harvest returns zero, and your debt will not go down unless you repay it yourself.
The reason is not clever: there is no earning vault for Robinhood Stock Tokens on this chain. Not one we are hiding from you, not one we decided against — none exists. We are not going to invent a yield source, route your collateral somewhere risky to manufacture a number, or quote an APY from another chain and imply it applies here.
Then why launch?
Because what is left is still worth using, and because building the mechanism around a real zero is the only way to know it works.
What actually works today:
- A loan with no interest. Not a low rate, not a teaser. The contract has no rate variable. Debt is set when you borrow and only ever decreases after that.
- No maturity, no schedule, no origination fee, no early-repayment fee. Repay a dollar a year or all of it tomorrow. Repayment is never blocked — not by a stale price, not by a closed market, not even by a protocol pause.
- Partial liquidations. If your health factor falls below 1.00, a liquidator may repay only the amount that brings it back to within a rounding unit of 1.00 and no more. A bad day costs you a slice with a 5% bonus on it, not half your position.
- Prices that refuse to guess. Feeds are accepted for 80 hours. Past that, borrowing, withdrawing with debt and liquidation stop for that market. Deposits, repayments and harvests never stop.
And when an earning vault does appear, it can be connected to a market without touching a single open position. Principal and shares migrate; your collateral, your debt and your health factor do not move. Harvests start returning something the next time they run. Nobody has to redeposit.
What the app will tell you
We did not hide the zero in a footnote. The home page card says the yield is zero. The market pages show pending yield at 0.00 and estimated time to zero as "Not shrinking". The USDG/day figure reads zero because it is zero.
If you see a screen implying self-repayment is happening today, it is a bug and we want to hear about it.
What has not been done yet
The contracts are new and have not been audited. We have unit tests over every guard and error, property tests over the liquidation and settlement math, stateful invariant tests, and fork tests against the live chain — and none of that is an audit. The contracts are not upgradeable, which means nobody can change the logic under your position, and also that a bug cannot be quietly patched.
There is an owner key. It can change market parameters, replace the oracle or the swap router, pause the protocol and withdraw from the treasury. We would rather say that on day one than have you discover it. The risk page has the complete list.
Start small. That is not a ritual phrase. A protocol in its first week with no audit deserves an amount you would shrug at losing.
Reading list
- Protocol info — the loop, the numbers, a worked example and every launch parameter
- Whitepaper — the same mechanism with the formulas
- Risk — every way this can lose you money
One last note, which will keep appearing here: Robinhood Stock Tokens are not available to US persons and are restricted in other jurisdictions. Whether you may hold them is yours to establish.
We will post here when the yield stops being zero. Until then, it is zero, and we will keep saying so.