Yield-bearing stock credit
Hold the stock.
Keep the yield.
Unlock the credit.
Turn Engine
Live composerSee what your stock can earn—and what it can unlock.
NVDA Stock Token
Reference value
$1,800.00
tNVDA · yield-bearing
9.7456
1 tNVDA = 1.0261 NVDA · claims 10.0000 NVDA today
5.82%
Stock supply APY
0.582 NVDA
Estimated stock yield per year, paid in NVDA
USDG credit line
720.00USDG
of 1,170.00 maximum
1.85
Health buffer
Loan to value
40.0%
Net carry
+1.36%
Liquidation price
$97.30
Now $180.00
Borrow APR
4.46%
Collateral factor 65%
Yield route
Net carry is a rate spread, not a dollar guarantee. Yield accrues in NVDA; debt is owed in USDG. Borrowing can result in liquidation.
Stock liquidity, made productive.
Every market is isolated, with its own caps, collateral factor and interest-rate curve.
Deposit once. Earn continuously. Borrow when needed.
Four steps, and the position never stops working in any of them.
Deposit stock
Supply an eligible Robinhood Stock Token into its isolated Turnstone vault.
Receive a yielding position
You hold tSTOCK, a receipt whose exchange rate grows as stock-borrow interest accrues.
Borrow USDG
Supply the receipt as collateral and draw a USDG credit line against it.
Manage or repay
Watch the health buffer, repay from your balance, or route accrued yield toward the debt.
Stock borrowers create the yield.
Turnstone does not manufacture return. Professional desks pay a variable rate to borrow tokenized stock, and that interest accrues to the suppliers who provided it.
Stock borrow interest
USDG borrow interest
Stock token
NVDA Stock Token on Robinhood Chain
Stock lending market
Isolated vault · professional borrow demand
Yield-bearing tSTOCK
Exchange rate grows with borrow interest
USDG collateral market
Credit line drawn against the yielding position
The position stays inside the stock lending market the entire time. Collateralising it does not stop it accruing.
One stock position. Two productive uses.
Layer one is a stock lending market: depositors earn what professional borrowers pay for inventory. Layer two is a USDG credit market that accepts the resulting receipt token as collateral. The same deposit does both jobs at once.
- Layer one
- Stock liquidity. Market makers, hedgers and arbitrageurs pay a variable rate to borrow tokenized equities.
- Layer two
- USDG credit. The yield-bearing receipt token backs an overcollateralised credit line.
- What compounds
- Deeper stock deposits attract more professional borrowing, which lifts depositor yield and widens credit capacity.
- What does not change
- Price risk, rate risk and liquidation risk stay with the holder. Yield does not remove any of them.
Know the boundary before you borrow.
Turnstone is designed so the interesting part of the product never hides the dangerous part.
Isolated markets
Every stock has its own vault, caps and parameters. A shock in one market cannot automatically contaminate the others.
Conservative collateral factors
Elevated-risk markets carry lower borrowing power and a tighter liquidation threshold than core markets.
Live health
The health buffer updates as prices, rates and balances move, with the liquidation price stated in plain dollars.
Oracle freshness
Prices are checked for staleness and cross-source deviation beyond 2%.
Safety reserves
A share of every interest payment is retained to absorb bad debt before it reaches suppliers.
Yield does not remove price risk
Borrow conservatively. If the reference price of your collateral falls far enough, the position can be liquidated regardless of how much stock-borrow yield it has earned.