Overview
Why on-chain
Why barrier notes belong on a public ledger, and why this design is possible now.
The gap
Autocallables are among the most sold structured products in the world, but they are wrapped in bank paper: high minimums, opaque pricing, issuer credit risk and fees buried in the terms. The buyer rarely sees who is on the other side or what they are paid.
Why it is possible now
- Stock Tokens on Robinhood Chain put the underlying itself on-chain, so stock can be escrowed and delivered.
- Chainlink publishes equity prices on the same chain, so an official close can be read by a contract.
- USDG gives both sides a settlement dollar that never leaves the chain.
Why fully collateralised
A bank note is a promise backed by the bank. A Get Berrier note is backed by tokens already sitting in escrow. That removes the issuer from the risk list and removes liquidations from the design: nobody borrows, so nobody can be forced out.
Why observations only at official closes
Intraday prices on a 24/5 token can wick on thin liquidity. Tying every decision to the scheduled official close makes outcomes hard to manipulate and easy for anyone to check against public market data.
Why a token engine with real cash flows
Fees come from coupons and notional, both paid in USDG or stock. Routing most of them to buy BERRIER, and holding the rest as reserves that set a floor, ties the token to revenue the protocol actually collects.