Architecture
Own runs on Robinhood Chain (Arbitrum Orbit L2, chainId 4663). Each product is a small set of contracts resolved through a registry.
eUSD
eUSD runs on its own small set of contracts, deployed 1 November 2026 with a fresh registry.
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| Contract | Responsibility |
|---|---|
| ProtocolRegistry | Service locator and role authority (ADMIN, OPERATOR, treasury) for every eUSD contract |
| ChainlinkOracleVerifier | Chainlink-primary prices, with signed in-house prices accepted only while a feed is silent and only within a band of it |
| EUSDManager A-D | One CDP engine per risk group: positions, sorted lists, mint/repay/redeem/liquidate. ERC-1967 proxies sharing one implementation |
| EUSD | The stablecoin (ERC-20 + permit + ERC-7802 rails); only the four managers can mint |
| StakingVault (seUSD, sMONEY) | Fixed-APR ERC-4626 vaults with a pre-funded reward reserve. Not upgradeable |
| MoneyFeeCollector | Claims $MONEY trading fees from Pons, splits them, and runs the $MONEY buy-back |
OwnX
The OwnX experiments run on the original core, resolved through the legacy registry.
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| Contract | Responsibility |
|---|---|
| ProtocolRegistry (legacy) | Service locator and role authority for the OwnX core |
| AssetRegistry | Asset listings, per-asset configuration, issuance caps |
| OwnMarket | RFQ settlement: quote verification, settle band, escrowed resting orders, PSM entry points |
| ETokenFactory / EToken | Deploys and implements eTokens (ERC-20 + permit + dividend accumulator) |
| ReserveVault (per asset) | Protocol-owned wrapper reserves behind each eToken |
| OwnVault | LP collateral vault (ERC-4626 shares, async queues) |
| VaultManager | Pooled risk accounting: utilization, exposure, collateral counting, signer and maker registry |
| OwnLendingPool / BorrowManager / LendingRouter | The credit stack: pooled USDG, per-position borrow accounting, deposit/withdraw routing |
| VaultYieldManager | Routes lending yield to vaults and the treasury cut |
| FundFactory and fund contracts | Curated Funds: one set of contracts per fund |
| OwnershipNFT | Soulbound points-program record |
Deployed addresses are on the contract addresses page.
Design invariants
- Funds do not idle in intermediaries. Each pool has one owner and one purpose: eUSD collateral sits in its manager, staking rewards in each vault's own reserve, and on OwnX, reserves are protocol-owned and LP funds sit in their own vaults.
- Every price is verified, never assumed. No trade price is ever an oracle input; every settlement checks against a verified, fresh mark.
- Risk-increasing paths are gated; exits are not. The pattern repeats at every level: solvency and freshness checks guard new risk, while repayment, close, liquidation and other exits of paid-for value stay open in every system state.
- Upgradability is scoped. The oracle verifier, the eUSD managers and selected modules upgrade through role-gated admin; the staking vaults are not upgradeable, and eToken and eUSD balances are plain storage no upgrade path can rewrite.