FAQ

A lending market for Robinhood-issued stock and ETF tokens on Robinhood Chain. Supply eligible tokens as collateral and borrow USDG against them without selling those tokens. On the other side, supplying USDG earns the interest borrowers pay.

Seven stock and ETF tokens are eligible collateral: SPCX, META, NVDA, AAPL, QQQ, SPY and SGOV. USDG is the only borrowable asset, so you either supply it to earn or borrow it against stock or ETF collateral.

Stock tokens cannot be borrowed, so the market cannot be used to short them. USDG is not collateral, so supplying it does not raise your borrowing power.

New borrowing usually runs from Sunday 8:00pm to Friday 8:00pm ET, including extended and overnight sessions. Holiday and early-close blackouts shorten that window, and the Sunday opening moves to 9:00pm ET during US/European daylight-saving mismatch weeks. Your collateral must have borrowing power enabled and a valid price. The USDG price, session certificate and ongoing monitoring must also pass the protocol's checks.

The app shows whether borrowing is open now. One stock can be restricted while other eligible stocks remain available. A gate-owned stock restriction needs 30 continuous minutes of healthy checks to recover, and a governance hold prevents automatic reopening.

Outside the borrowing window you can still repay or add collateral. Every stock feed has a 24-hour source limit. An invalid feed, issuer pause or unresolved corporate action can make that asset's valuation unavailable. AWS failure closes new borrowing but does not remove otherwise valid prices or disable liquidation. Details on Prices & Market Hours.

Your Robinhood-issued tokens sit in the protocol's pool and you hold a zToken receipt that redeems for them. You keep the token's price exposure and receive the underlying tokens back on withdrawal, provided the position is healthy and liquidity is available. Zona is not a broker and never touches a Robinhood brokerage account.

Yes, $500K in pre-seed funding, with partners including Animoca Brands, Echo (via Plums), and angels from Polygon, Suilend, Yei Finance and Columbia University. Details are in this announcement.

The NYSE closing bell does not end Zona's normal weekly borrowing window. Borrowing can continue through extended and overnight sessions while all checks pass. New borrowing closes for weekends, calendar blackouts or safety restrictions. If a required price expires or fails validation, indebted collateral withdrawals, health-factor reads and liquidation also stop for accounts needing that price. Repaying, collateral top-ups and debt-free withdrawals remain available subject to reserve status and liquidity.

Interest continues through closures. News over a weekend can reach the feed in one jump, and liquidation can resume as soon as a valid price returns. Keep headroom before weekends, holidays and corporate actions rather than relying on the closure.

It depends on what is closed. Outside the approved borrowing window, during an AWS outage or when no certificate exists, liquidation can still run while the direct collateral price remains usable. If pricing itself is unavailable, liquidation is blocked because the position cannot be valued. Interest keeps accruing, and liquidation can resume when the adapter accepts a valid price again.

Reading it requires a valuation, so it fails rather than showing a figure based on a stale price. A borrowing-hours closure alone does not hide your health factor. Repay and top-up remain available during a price outage, subject to reserve pauses, freezes and caps.

Robinhood changes how many shares each token represents rather than rebasing balances, so your token count stays the same. Zona can close that stock's borrowing power within 30 minutes of the effective time. After the action, valuation needs the updated multiplier and a Chainlink round published after it took effect. Borrowing power can recover after 30 continuous minutes of healthy checks if no governance hold is active. Your debt and interest continue during the interruption.

Chainlink feeds native to Robinhood Chain, read through always-on adapters that check freshness, precision, contract identity, backing, issuer state, corporate actions and an absolute price band. USDG account valuation is fixed at $1, while its live Chainlink feed gates new borrowing. Feed addresses are on Prices & Market Hours.

Almost always because the collateral is not enabled yet. Stock reserves are listed in isolation mode, and an isolated asset is not switched on as collateral by the supply transaction. The app offers the collateral change as a separate transaction and can select the first eligible asset for you. Until that transaction confirms, the deposit grants no borrowing power.

No. Isolation mode allows one equity collateral per position. Supplying a second asset is fine; it just will not count towards borrowing power. Two positions in two wallets is the practical route to exposure in both.

Interest paid by borrowers accrues into your zToken balance continuously, less a published reserve factor. There is nothing to claim, the balance itself grows.

Almost all of that interest comes from USDG borrowing, so supplying USDG is where the yield is. Supplying a stock token earns very little, because nobody can borrow it.

No. Withdrawal is gated on three things rather than time: the position must stay healthy, the pool must hold free liquidity, and, while you are in debt, a valid price must be available. Once debt is fully repaid, withdrawal needs no price at all.

The pool cannot seize assets that you did not supply, but a severe gap can consume all of the collateral in the position and still leave debt unpaid. Liquidation also includes the published bonus paid to the liquidator. Keep a meaningful buffer above a health factor of 1.0.

They differ by collateral asset. Open the asset in the Zona app to see its current onchain max LTV and liquidation threshold. How the Market Works explains what each limit means.

No. Both the supply and borrow rate are functions of pool utilisation and move continuously. An APY shown at the moment you supply is a snapshot, not a promise.

A wallet connected to Robinhood Chain, a small ETH balance for gas, and either a stock token to supply as collateral or USDG to lend. The app prompts your wallet to switch to the correct network when you connect.

They trade on Robinhood Chain DEXs including Alandale, Orvex, Raphael Exchange, Ramses and Uniswap, and the app links directly to those venues from each market with the pair preselected. Zona is a lending market, not an exchange, so it does not sell you the collateral or take a fee from that trade.

Wallets are ranked by time-weighted points. USDG supply earns 3x, USDG borrowing earns 2x, and supplied stock or ETF collateral earns 1x. See Points & Leaderboard.