Root
Incorporated under the laws of chain 4663
The root plate of a position that compounds without instruction
This certifies that
the dividend is already in the token,
and nothing on this chain can see it
Robinhood's tokenized stocks do not pay a dividend the way you would expect one to be paid. There is no distribution, no claim, no airdrop and no reward contract. A dividend is applied as a multiplier, which is one number held on the token, and that number moves balanceOfUI and nothing else. The raw ERC-20 balance that every wallet, every pool and every lender on this chain reads has not moved, and never will.
So the compounding is real and already running. Costco's multiplier stands at 1.000612040, which puts every holder +0.0612% above the figure a block explorer will give them. It is invisible to code, and code is what holds most of these tokens.
Root is the accounting that admits it. Two contracts to a ticker: a wrapper whose balance is the true one, and an ERC-4626 vault whose share price rises in the block a dividend lands. Nothing is harvested, because there is nothing to harvest. The yield has no source to dry up, no keeper to stop, no emission schedule to end and no strategy to break, and that is the only shape of the word forever anyone should accept from a vault.
Multiplier of record · Costco
one and six hundred twelve thousand and forty billionths
1.000612040
applied 10 Aug 2026, 15:10 UTC · never distributed, never claimed, never transferred
Schedule I. A position of record, held blind.
The largest holder of tokenized Apple on this chain is the Uniswap V4 singleton at 0x8366…0951. It prices raw units, so the moment a multiplier updates it is quoting a stale asset and the first arbitrageur through takes the difference out of whoever supplied the liquidity.
Read at block 50064989. The same blind spot exists in every lender, index and vault on this chain that reads balanceOf.
What is issued against a ticker
rAAPL · the wrapper
Deposit the stock token and hold a balance that tells the truth. It stores only shares, denominated in the stock's own raw units, and reports them through the live multiplier, so a wallet shows what Robinhood shows. Backing is structural rather than promised: the wrapper's share count is its raw balance, and a dividend costs it no storage write at all.
rootAAPL · the vault
The share that keeps its count and grows its worth. Shares never rebase, the assets behind them do, and the whole of it is a standard ERC-4626, so anything that already speaks the standard prices the dividend correctly on the day it integrates. Deposits credit what arrived rather than what was asked for, which is one wei of caution in the depositor's disfavour and everyone else's protection.
Rooting a ticker is permissionless and costs a seed of 0.001 of a share, deposited at birth, whose vault shares are minted to the vault itself where no caller can reach them. An ERC-4626 vault is only ever exploitable while it is empty, so no Root vault is ever empty. Whoever opens a ticker pays for that once and does not get it back. It stays in the ground.
24 tokenized stocks are listed on the register. 2 of them have applied a dividend.
In witness whereof
no officer has signed this instrument, because there is no officer. The contracts hold no owner, take no fee, cannot be paused and cannot be upgraded. What can go wrong is written on the reverse, including the parts with no remedy.
No transfer agent
there is no registry to keep
No countersignature
there is no key to withhold
Dated at block 50064989 · chain 4663 · 30 Aug 2026, 14:02 UTC