Note Systems is the layer for structured notes on Robinhood Chain. – Notes. Autocallable barrier notes on tokenized equities, ETFs and indices. One side deposits $USDG and earns a coupon while the asset holds above a barrier. The other posts the asset and pays that coupon for protection. Every payout is escrowed up front, so the note can't be liquidated. – Credit. Borrow $USDG against your coupon legs through a dedicated Morpho market for each series, and keep earning the coupon while you do. Powered by @Morpho. – Omni. Move your legs from Robinhood Chain to other chains and back, starting with Arbitrum. Coupons that accrue while you're away are paid on return. Powered by @LayerZero_Core. – Build. An SDK and integration guide so any wallet, protocol or treasury can embed notes, vaults or note-backed credit in a few contract calls, with an on-chain fee share for whoever brings the deposits. Four parts, all live on testnet.

4,000+ people have now used the Note Systems protocol. Season 0 closed with 109,500+ deposits and 91M+ $USDG tracked on-chain. Deposits are up 4x since our 2,000-user milestone. From zero to a real on-chain market in under a month. Pre-season is live. Full breakdown tomorrow.

HOOD Summit '26, in short. @RobinhoodApp spent two days in Houston showing where retail trading is heading. Here's what was announced, and what it means. 24/7 stock trading. "You'll be the first people in the US to trade stocks on Saturdays," said @vladtenev on stage. Robinhood already runs a 24-hour market five days a week. Weekends are next, starting with a limited set of stocks and limit orders, pending regulatory approval. Robinhood Agents. You can build your own AI agent inside the app in a few taps. It can research, build a strategy and place trades, using a dedicated account with trade approvals on by default. "Loops" will let an agent run a strategy around the clock. Agent Apps. Paid data add-ons for those agents, from Nasdaq, Unusual Whales, Token Terminal and others, covering things like options flows, congressional trades and crypto fundamentals. Crypto perpetual futures for US customers. Perps are futures with no expiry date, so a position stays open until you close it. Up to 10x leverage on BTC and ETH, 3x on six other coins, arriving in the coming months. Longer options hours. Options on major symbols now trade from 7:30am to 4:15pm, about 35% more time in the market. Up to 4x intraday margin. Margin means borrowing from your broker to trade. During market hours, buying power on positions opened and closed the same day rises to up to 4x, up from 2x overnight. OCO orders. "One cancels the other": you set two linked orders, such as a take-profit and a stop-loss. When one fills, the other is cancelled automatically. Earnings contracts. Prediction contracts are simple yes/no bets on an outcome. These cover company results such as revenue, earnings per share and company-specific metrics, alongside new contracts on the US midterm elections. Robinhood Social and live earnings. Users can share charts, positions and P&L and follow verified commentators. Earnings calls can now be listened to and traded in one place. Robinhood Legend upgrades. Outside AI agents can now plug into Robinhood's desktop platform through MCP, an open standard for connecting AI tools to apps. Legend also adds multi-monitor support and a faster engine for charts. Private markets. New Robinhood Ventures funds give everyday investors exposure to private companies. On the roadmap. Options on futures in 2027, single-stock futures, and options-based defined outcome funds: funds that use options to set the range of possible returns in advance. What it means for on-chain notes, and Note Systems: – Outcome-based products are going mainstream. Earnings contracts pay on a yes/no result. A note works on the same idea: it pays a coupon each time a stock closes above its barrier. – Agents need products with fixed rules. A note has them: a set observation schedule, with every payout escrowed upfront. With Build (deep dive into that is coming next), any app or agent can plug in. – Defined outcomes for everyday investors are coming to the biggest retail platform in the US. An autocallable note is a defined outcome, and we're bringing it on-chain for the first time ever. Robinhood is putting more of Wall Street's toolkit in everyday investors' hands. We're building one of Wall Street's biggest products, the structured note, natively on Robinhood Chain, as a new DeFi primitive anyone can use while onboarding to @RobinhoodCrypto.

Introducing Omni. Capital lives on many chains. Structured notes should reach all of it. Struck and settled on Robinhood Chain, held anywhere, with every coupon still paid. Powered by @LayerZero_Core. Live on Robinhood Chain testnet.

Our website has a new look. How a note works, close by close. The Desk. $NOTE and its value accrual. Live prices at the official close. All in one place. All of the individual app pages got a refresh too. Link in bio.

"We're making Robinhood the best place in the world for active traders by delivering tools once reserved for hedge funds, big banks, and quant firms." – @vladtenev at HOOD Summit. Autocallables are one of them: a half-trillion-dollar market. Note Systems brings them on-chain.

Introducing Credit. Credit lets you borrow $USDG against your coupon legs, while they keep earning. Powered by @Morpho. A note that pays you a coupon is now also a source of liquidity. Live on Robinhood Chain testnet. More on how it works below.

Longbow is partnering with @notesystems. Once they reach mainnet, their note legs will be live as collateral on Longbow. This is a new asset class on the credit layer. We started with tokenized equities, added RWAs, crypto and the long tail. Structured notes are next, and they don't exist anywhere else onchain. Note Systems builds autocallable barrier notes on tokenized stocks, priced and settled without a bank in the middle. It's a $422bn market a year and every one of them has come from a bank until now. And the structure makes it strong collateral. Both legs are fully escrowed up front with no issuer credit risk, and the downside past the barrier is set by contract rather than modelled. That's a position we can underwrite directly. More coming with the Note Systems team.

Note Systems is excited to partner with @longbowlend. Once we launch on mainnet, our note legs will be accepted as collateral on Longbow. Longbow is the credit layer for Robinhood Chain: curated, isolated markets to lend, borrow and leverage against tokenized stocks, RWAs and crypto. Structured notes are the next asset class on that list. Every note on Note Systems splits into two positions held as tokens. COUPON earns a coupon while the stock holds above a barrier. SHIELD posts the stock and pays that coupon for protection below it. Both pay out by a formula fixed at inception and are fully escrowed up front, with no issuer credit risk. That's collateral a lending market can price without guesswork. For holders, a note stops being capital locked until maturity. For Longbow, it's collateral from a new asset class built natively on Robinhood Chain. The listing goes live after our mainnet launch, which follows the completion of our independent audit by @cyfrin. Lending was first on our list of places a leg can plug in. Longbow is where it starts.

The Note Systems universe has expanded significantly since last week. The goal was always a layer for structured notes on Robinhood Chain, not a single product. The first look comes later today, with deep dives throughout the week.

Note Systems 101. Two people want opposite things from the same stock. One wants income. The other already holds it and wants protection if it falls. Note Systems writes a single contract where each one pays for what the other needs. Underneath, it's an on-chain issuer of autocallable barrier notes on tokenised stocks, matching buyers who want fixed periodic coupons against holders who want paid protection on stock they already own. Every leg is escrowed at subscription and settled by contract, so there is no unsecured claim on an issuer, no liquidation possibility and no margin calls. It brings the structured products desk on-chain as a permissionless primitive. No issuer balance sheet. The coupon is discovered by the market on each series rather than set by a desk. Positions are transferable ERC-1155 tokens that other protocols can hold, collateralise or trade. $NOTE is the protocol's governance and fee asset. Every series struck generates notional and coupon fees, and all of it routes back to holders.

2,000+ people have now used the Note Systems protocol. 2x growth in the last 96 hours. 24,500+ deposits across 48 notes. 21.5M+ $USDG tracked on-chain. Structured notes didn't even exist on-chain a few weeks ago. Now there's a market. Join in: note.systems/community

Introducing the Desk. A market only works if someone is always willing to take the other side. Otherwise you show up and wait. The Desk is always there, so notes get written. And if you just want to earn, it's one deposit – no stock or levels to pick, nothing to manage.

Every fee Note Systems collects ends up with $NOTE holders. 90% buys $NOTE through a continuous auction & goes to stakers. 10% backs the redemption floor. Fees run ~3.25% a year on capital in live notes. A half-trillion dollar existing market, and we're bringing it on-chain.

New portfolio page is live! What's claimable now, what's still coming, and how far every position sits from its barrier. Click into any note and you see each scheduled observation, its recorded close, and exactly what you receive in every possible outcome – before it happens.

Every zero-to-one in DeFi looks the same. Something that used to require an intermediary stops requiring one. @aave did it for lending by creating money markets onchain. Not a better lender, but the removal of the lender as a requirement. Note Systems is that moment for structured products. A structured note today lives on a bank's book, issued, held and exited only through the issuer. Robinhood Chain supplies the missing piece via tokenized equities (stocks, ETFs) onchain, and Note Systems turns the desk itself into a protocol. The utility lands on both of the chain's core users. Stock holders get downside protection on positions they already hold. Stablecoin holders get a defined yield that's superior to what lending markets can offer, backed by escrowed collateral rather than by a borrower. Real assets, held by real users, made useful. That is what the Robinhood Chain is for, and it's the layer we're building on top of it.

Writing contest with $5,000 in rewards is live! Thread, article or long-form post – your format. Write about Note Systems and what we're building, tag us & $NOTE, and drop the link in Discord. One week to enter. Nine winners. Details in our Discord: → discord.gg/GDrmjADh5

Twelve days since Note Systems came out of stealth. Everything that happened in the article below. Structured notes have never existed on-chain. We are building that entire category on Robinhood Chain.

1,000+ users have now tried out Note Systems on testnet. Almost 2x growth in the last 48 hours, with 1,101 depositors and 778 shielders. Deposits grew 2.5x to 6,700. Just the first milestone we set for ourselves. Thank you to everyone taking part. → note.systems/community/

Note Systems Bonds walkthrough, and why they matter for you and for the protocol. A bond swaps an asset – USDG, a Stock Token, or a live COUPON leg – for $NOTE that unlocks over a vesting period. For the user: a price that can never sit below the treasury's redemption value, and a discount to the $NOTE market price when the protocol needs reserves. For the protocol: the treasury grows, which raises the reserve value behind every $NOTE and funds the Desk – the vault that fills the other side of a note when demand is one-sided, so series can open before the market is deep enough to match itself. Both ends compound: more bonds → deeper treasury → more notes → more fees → more $NOTE buybacks → a higher floor under $NOTE → more value for $NOTE holders. Check out the video for a full walkthrough. Live on testnet on @RobinhoodCrypto.