Protocol
reference.

Overview

Bell Markets runs parimutuel UP/DOWN rounds on Robinhood Stock Tokens. A round asks one question about one stock token: will the Chainlink price at the closing bell be above the Chainlink price at the open? You stake USDG on UP or DOWN. At the bell, one oracle read decides. Winners split the entire pot pro-rata to their stake, minus a small fee that buys and burns $BELL.

There is no order book, no counterparty to find, no strike and no expiry grid. There is a pot with two sides. That is the whole product.

How a round works

1. Schedule. The operator opens a round for a market with a lock time (the US open) and a close time (the bell). Betting is open from that moment.
2. Stake. Anyone stakes USDG on UP or DOWN, at least the minimum stake. One side per wallet per round; you may add to your side until the lock time.
3. Lock. At the lock time anyone can call lock. The contract stores the Chainlink answer as the reference price. No more stakes.
4. Settle. At the close time anyone can call settle. The contract reads Chainlink again. Above the reference: UP wins. Below: DOWN wins. The fee goes to the FeeRouter; the rest is the reward pool.
5. Claim. Winners call claim and receive stake × rewardPool ÷ winningSideTotal. Claims never expire.

Example. Pot: 300 USDG on UP, 100 USDG on DOWN. Close is above the open. Fee at 3% is 12 USDG. Reward pool 388 USDG. A 100 USDG UP stake claims 129.33 USDG.

Schedule

Daily rounds lock at 09:30 and settle at 16:00 New York time on US trading days, which the keeper converts to UTC including daylight-saving changes. Weekly rounds lock Monday at the open and settle Friday at the bell. Round times are explicit on-chain; there is no hidden clock.

Each round has a grace window (six hours by default) after its lock and close times during which the lock or settle call is accepted. Outside that window the round can only be cancelled.

Oracle

Prices come from Chainlink's Robinhood Tokenized Equity feeds on Robinhood Chain, the same feeds Robinhood publishes for its stock tokens. They aggregate regular, pre-market, post-market and overnight sessions and include the token's corporate-action multiplier, so a dividend or split does not create a false move.

• An answer must be positive and no older than the oracle allowance (one hour by default). A stale answer reverts the call.
• Settlement requires the feed's round id to have advanced since the lock read.
• While US markets are closed the feeds hold the last session price. That is why daily rounds only run on trading days.

Fees and the burn

A fee of 3% of the pot is taken on settled rounds only, never on cancelled ones. The fee rate is snapshotted into each round when it is scheduled, so the rate you saw when you staked is the rate at settlement. The hard cap in the contract is 5%.

Fees flow to the FeeRouter in USDG. Anyone can call buyAndBurn: 80% of the balance is swapped through Uniswap V3 for $BELL and sent to the burn address, 20% goes to the operations treasury.

Cancellation and refunds

A cancelled round refunds every stake in full through claim. A round is cancelled when:

• the close price equals the lock price (a tie);
• one side has no stakes at all;
• it was not locked inside its grace window (for example the feed was stale on a holiday): anyone can call cancel;
• it was locked but not settled inside its grace window: anyone can call cancel;
• the owner cancels it before it locks (a mis-scheduled round). The owner cannot cancel a locked round.

Trust model

Contracts · Robinhood Chain 4663

Source will be verified on Blockscout at deployment. Until an address appears above, nothing is live and any contract claiming to be Bell Markets is not ours.

$BELL

• Launched on Pons on Robinhood Chain. Fixed supply of 1,000,000,000, all circulating, liquidity locked at creation.
• Its only protocol role is to be bought and burned by fees. It has no claim on user funds and no governance over the contracts.
• The FeeRouter's burn is public and permissionless; the burn address is 0x…dEaD.
• Contract address: not deployed yet.

Markets

Launch set: every Robinhood Stock Token with a Chainlink feed. 8 feeds verified so far; 35 planned.

Symbol	Name	Chainlink feed	Stock token
AAPL	Apple	0x6B22A786bAa607d76728168703a39Ea9C99f2cD0	0xaF3D76f1834A1d425780943C99Ea8A608f8a93f9
AMD	AMD	0x943A29E7ae51A4798823ca9eEd2ed533B2A22C72	0x86923f96303D656E4aa86D9d42D1e57ad2023fdC
AMZN	Amazon	0xD5a1508ceD74c084eBf3cBe853e2C968fB2a651C	0x12f190a9F9d7D37a250758b26824B97CE941bF54
ASML	ASML	0xB4106147E8cce40b7d46124090d373A71b70f87D	0x47F93d52cBeC7C6D2CfC080e154002370a60dAEA
BABA	Alibaba	0x62Cc8F9b5f56a33c9C8A60c8B92779f523c4E984	0xad25Ac6C84D497db898fa1E8387bf6Af3532a1c4
CLSK	CleanSpark	0x810c12D3a554Bc47fd39597Fe3b3AAC4941F50eF	0xcBB95BBF36099d34dA091dc6Fa6F49EfA257Cee3
COIN	Coinbase	0xA3a468A452940B7D6b69991207B508c609a98Ef2	0x6330D8C3178a418788dF01a47479c0ce7CCF450b
CRCL	Circle	0x6652eDf64bA3731C4F2D3ce821A0Fb1f1f6b482a	0xdF0992E440dD0be65BD8439b609d6D4366bf1CB5
NVDA	Nvidia	pending verification	0xd0601CE157Db5bdC3162BbaC2a2C8aF5320D9EEC
TSLA	Tesla	pending verification	0x322F0929c4625eD5bAd873c95208D54E1c003b2d
MSFT	Microsoft	pending verification	0xe93237C50D904957Cf27E7B1133b510C669c2e74
GOOGL	Alphabet	pending verification	0x2e0847E8910a9732eB3fb1bb4b70a580ADAD4FE3
META	Meta	pending verification	0xc0D6457C16Cc70d6790Dd43521C899C87ce02f35
PLTR	Palantir	pending verification	0x894E1EC2D74FFE5AEF8Dc8A9e84686acCB964F2A
GME	GameStop	pending verification	0x1b0E319c6A659F002271B69dB8A7df2F911c153E
AMC	AMC	pending verification	0x05a3d1Cd21d0C88145E82600E62e7E496e0F222B
HIMS	Hims & Hers	pending verification	0xCceE82fE024c36fA15E1005edE3E9e4787e23D09
RKLB	Rocket Lab	pending verification	0x3b14C39E89D60D627b42a1A4CA45b5bb45Fc12e2
MSTR	Strategy	pending verification	0xec262a75e413fAfD0dF80480274532C79D42da09
INTC	Intel	pending verification	0xc72b96e0E48ecd4DC75E1e45396e26300BC39681
SPY	S&P 500 ETF	pending verification	0x117cc2133c37B721F49dE2A7a74833232B3B4C0C
QQQ	Nasdaq 100 ETF	pending verification	0xD5f3879160bc7c32ebb4dC785F8a4F505888de68

Risks

• You can lose your entire stake on a settled round.
• The contracts are new and unaudited. Smart contracts, RPCs and oracles can fail.
• Robinhood Stock Tokens are tokenized debt securities issued by Robinhood Assets (Jersey) Ltd, not shares, and are not offered to US persons. Bell Markets never holds stock tokens; it references their price.
• Bell Markets is not affiliated with Robinhood, Chainlink, Uniswap, Paxos or Pons.
• Nothing on this site is financial advice.