How Meridian Desk works

Overview

Meridian Desk is a derivatives desk for Robinhood Stock Tokens on Robinhood Chain (chain ID 4663). It has two products: Perps for leveraged long or short exposure, and Options for calls and puts. They are separate products with separate navigation, risk engines and positions. They are never merged into a single button or blended account.

Both desks list the same full catalog of Stock Tokens, and every collateral, premium and settlement amount is in USDG.

Launch status

Perps engine

Pre-testnet

Options engine

Pre-testnet

Catalog

204 Stock Tokens · snapshot 2026-11-06

Audit

Unaudited. Mainnet launches as a guarded beta, with an audit running in parallel

Guardrails at launch

Deposit caps, asset allowlist, per-market pause, multisig administration

Until the engines reach guarded testnet, the app shows the full interface with every price, balance and estimate set to an em dash (—). Meridian never shows synthetic prices.

Perps

Underlying

Every Stock Token in the catalog

Margin & quote

USDG

Leverage

1× · 1.25× · 1.5× · 2×

Order types

Market, limit. Stop orders planned for v1.1

Margin mode

IsolatedPROPOSED · final in risk design

Funding

Periodic funding rate. Parameters will be published here before testnetPROPOSED · final in risk design

Liquidation

Maintenance margin basedPROPOSED · final in risk design

Order size can be entered in USDG notional, and the token amount is shown next to it. Before you submit, the ticket previews margin required, the estimated liquidation price and fees.

Leverage & liquidation

Leverage has exactly four settings: 1×, 1.25×, 1.5× and 2×. There is no slider and no free input. The 2× cap is enforced twice, once in the interface and again in the smart contracts, so no client can open a position above 2×.

Out of scope for v1: leverage above 2×, power perps, using Stock Tokens as margin (phase 2) and portfolio margin.

Options

Style

European call and put, buy-to-open

Settlement

Cash-settled in USDG against the oracle mark at expiry

Expiries

Presets: 1D · 1W · 1MPROPOSED · final in risk design

Strikes

Grid relative to ATMPROPOSED · final in risk design

Premium

Paid in USDG. Buyers can lose at most the premium they paid

Underlying

Same full catalog as Perps

Covered calls may arrive in phase 1.5. American exercise, exotics and a full Wall Street chain are out of scope for v1.

Market catalog

The app lists every supported Stock Token with no hidden subset. A token that lacks an oracle, or is not yet tradable on one desk, stays in the list with a Coming soon or Oracle unavailable badge. Filters only narrow the view you asked for. Resetting them always brings back 100% of the catalog.

Stock Tokens

204

With a published Chainlink feed

35 of 204

Sectors (UI grouping)

Semiconductors · Software & Internet · Crypto & Fintech · Quantum · Space, Aero & Defense · Energy & Industrials · Consumer · Healthcare · ETFs & Funds

Registry fields

Token address, symbol, oracle, perpsEnabled, optionsEnabled, decimals, metadata URI

The featured row on the landing page is a curated preview only. The source of truth is MarketRegistry, which will be synced from the Robinhood Chain asset registry. Token contracts can be verified on the Robinhood Chain explorer.

Oracles & sessions

Marks come from the official Chainlink feeds for Stock Tokens on Robinhood Chain. These feeds follow US equities market hours (24/5). Stock Tokens can move on chain while the underlying market is closed, so prices can gap across weekends, holidays and session changes.

When a feed is stale or missing, that market shows Oracle unavailable and new orders on it are blocked.

Execution & latency

Denim-grade means our execution UX bar (speed + clarity), inspired by Base’s Denim upgrade narrative — Meridian runs on Robinhood Chain, not Base.

The order ticket shows a confirmation chip. After an order confirms it reads Confirm ~XXms with the measured time. Before that it reads Soft-confirm. Robinhood Chain produces a block about every 0.1 s. The 0.2 s Denim block era is a narrative benchmark only, not a claim about the host chain.

Risks

• Stock Tokens trade 24/7 while underlying markets do not. Prices can gap across weekends, holidays and session changes, and oracle updates follow official feeds.
• Low leverage does not remove liquidation risk. A 2× position can still be liquidated.
• Meridian Desk is an unaudited beta under guarded launch: deposit caps, market pauses and multisig administration apply.

Not investment advice. No returns are promised.

Affiliation & legal

Meridian Desk is not affiliated with, endorsed by, or partnered with Base, Denim, Robinhood Markets or its affiliates, Arcus, or Lighter. Stock Tokens are issued by Robinhood Assets (Jersey) Limited.

Not investment advice. Not an offer to buy or sell any security or token.