RESD

RESD is Reisa's stablecoin: a dollar backed by tokenized stocks. Every RESD is either borrowed against tokenized equities worth more than the loan, or swapped 1:1 for USDG. Simply holding it earns a share of protocol revenue, paid in WETH and RESD.

Backed by tokenized stocks#

RESD is minted against these tokenized stocks on Robinhood Chain:

Asset	Ticker
SPDR S&P 500 ETF	SPY
NVIDIA	NVDA
Tesla	TSLA
Apple	AAPL
Amazon	AMZN
Microsoft	MSFT

Each stock has its own market, with its own maximum loan-to-value and borrowing capacity, shown on the RESD page. Every position is over-collateralised and visible onchain, so anyone can check what stands behind each RESD.

Earn by holding#

Keep RESD in your wallet and it earns. There is nothing to stake, nothing to deposit and no minimum: your share grows with your balance, second by second.

What you earn#

• Rewards are paid in WETH and RESD. WETH arrives in your wallet as ETH.
• The current APY is shown on the Rewards page, next to the rewards still streaming and everything paid since the start.
• The RESD you claim earns too, as soon as it is in your wallet.

Where the yield comes from#

A share of every fee the protocol collects goes to RESD holders:

• the interest paid by RESD borrowers;
• the fee on RESD to USDG swaps and the redemption fee;
• the protocol's share of swap fees on the Reisa DEX;
• the WETH bought with part of the protocol's REISA fees, from launch curves, launched-token pools and lending.

Each new batch of revenue is paid out evenly over the following 7 days, so rewards flow continuously. See Fees for the full breakdown.

Claim your rewards#

1. Open Rewards in the app.
2. To claim shows what you have earned, in WETH and RESD, with its dollar value.
3. Click Claim and confirm in your wallet.

Claim whenever you like: your rewards keep adding up until you do, and Claim collects all of them, including your liquidity rewards below. Your RESD rewards also show on the RESD and Portfolio pages. If you move RESD out of your wallet, the rewards it earned so far stay yours to claim.

Liquidity providers earn too#

RESD sitting in a liquidity pool keeps earning. RESD pools on the Reisa DEX, such as REISA/RESD and WETH/RESD, pass that share on to their liquidity providers:

• LP tokens in your wallet earn in WETH and RESD. Claim them on Rewards, with the rest of your RESD rewards.
• LP tokens staked in the pool's farm earn the same WETH and RESD through the farm, on top of the farm's own reward. Claim them in Pools, with Claim rewards on the pool's Stake or Rewards tab.

Either way you also keep your share of the pool's swap fees. See Farms.

Get RESD#

• Swap USDG for RESD 1:1, with no fee, on the RESD page.
• Borrow RESD against your tokenized stocks and keep your exposure (below).
• Buy RESD on the Reisa DEX, for example in the WETH/RESD or REISA/RESD pools. See Swap & Liquidity.

Borrow against your stocks#

Deposit a tokenized stock and borrow RESD against it. You keep owning the stock, with all its upside, and get dollars to spend, trade, farm or simply hold and earn.

1. Open RESD and choose Borrow.
2. Select the stock you deposit as collateral.
3. Enter the amount to deposit and the amount of RESD to borrow. The position preview shows your loan-to-value against the stock's maximum.
4. Select your rate (see below).
5. Click Borrow RESD and confirm. The first time, approve the stock first. The RESD arrives in your wallet.

Manage your position#

Your position shows under Your RESD position. Pick its stock again to manage it:

• Update position adds collateral, borrows more or changes your rate, in one transaction.
• Repay reduces your debt and lets you withdraw collateral.
• Close position repays your whole debt and returns all your collateral in one click.

Pick your own rate#

You choose your annual interest rate, anywhere from 2 % to 50 %. Interest accrues every second and adds to your debt. There is no borrow fee.

Your rate also sets your place in the redemption order: positions with the lowest rates are redeemed first, and a higher rate keeps yours further back. Changing your rate is free once 7 days have passed since you opened the position or last changed it. An earlier change costs 7 days of interest at the new rate, shown in the app as the Rate change fee before you confirm.

Redemptions#

Anyone can exchange RESD for $1 of collateral per RESD. When a redemption reaches your position, part of your debt is repaid with part of your collateral, of the same value. You keep the RESD you borrowed; your position simply gets smaller. A position redeemed in full closes, and any collateral left is yours to collect.

Stay healthy#

Keep your collateral comfortably above your debt. If the stock falls far enough that your position crosses the stock's liquidation level, anyone can repay your debt in RESD and receive your collateral with a 5 % bonus. Any collateral left over stays yours: collect it with Collect under Your RESD position.

Adding collateral or repaying a little when the price moves keeps you well clear of that line.

Swap USDG and RESD 1:1#

1. Open RESD and choose Swap 1:1.
2. Pick the direction and the amount.
3. Confirm in your wallet.

USDG to RESD is free. RESD to USDG costs 0.05 %. The app shows how much can be swapped right now.

Redeem RESD at face value#

1. Open RESD and choose Redeem.
2. Enter the RESD you return. The app shows the collateral you receive and the fee.
3. Confirm. You receive tokenized stocks worth $1 per RESD, minus the redemption fee.

The redemption fee is 0.5 % plus a small variable part that rises with recent redemptions. The collateral comes from every stock market, in proportion to what is borrowed against each. This keeps RESD anchored to the dollar: when RESD trades below $1, buying it and redeeming it brings it back.

Why RESD#

A dollar that works for you. Backed by real-world stocks, redeemable at $1 anytime, and earning a share of every protocol fee just by sitting in your wallet.