BEARER Last– 24h– Mkt cap– 24h vol– Liquidity– SGOV– Next coupon– Checking

Pays whoeveris holding it.

A bearer bond for Robinhood Chain. Half of every trading fee it earns buys tokenized US Treasuries and pays them to whoever is holding, every day at 20:00 UTC. Historically a bearer bond paid twice a year. This one pays daily.

Robinhood Chain · Pons V2

Bearer Bond

Payable to bearer · No registry · No holder of record

Issue ofOne Thousand Million Unitspayable to bearer

This instrument is issued in bearer form. Title passes by transfer of the token itself. There is no register, no holder of record, and no issuer consent required to sell, gift or destroy it. Possession is the whole of the claim.

The obligor pays a coupon equal to 50% of all creator fees received on trading of this instrument, converted into SGOV and distributed to holders pro rata at 20:00 UTC daily. Historically a bond of this form paid twice a year against a physically detached coupon. This one pays every day and detaches nothing: the payment is pushed to the holder directly.

The coupon is a share of trading fees and is zero if nobody trades. There is no principal, no maturity and no redemption. The obligor holds no funds on behalf of any holder and can be compelled to nothing.

Principal

1,000,000,000

Denomination

1 BEARER

Coupon

50% of fees

Payable in

SGOV

Frequency

Daily

Serial number

TO BE ASSIGNED

Issue date

NOT YET ISSUED

Pons V2

Registrar and paying agent

Bearer

Owner of record

Not yet issued. The serial number is the contract address and is assigned at launch.

Next coupon

--:--:--

20:00 UTC, every day. That is the closing bell on the New York Stock Exchange, where the Treasuries this pays in actually trade.

Hold it at the closing bell. That is the whole rule.

The bell rings at 20:00 UTC. A record block is fixed. Nothing to press, nothing to enter.
Everyone holding is counted. Balances are read straight off the chain and checked against total supply, twice, on two different nodes.
Half the day's fees are converted to SGOV and pushed to those wallets, pro rata. No claim, no staking, no lockup, no approval to sign.
It lands in your wallet. Then the clock resets and tomorrow is a new coupon.

Buy at 19:59 and you are in tonight's coupon. Buy at 20:01 and you start from tomorrow's. A coupon belongs to whoever is holding when it is struck, the same way it did when these were paper and you clipped the one that had fallen due. Sell the bond and you keep every coupon you were paid, because they were already yours.

Every token on this chain pays its creator roughly 1% of every trade, plus whatever tax they set, in both directions, forever. On the ones you already hold, that money goes to the person who launched it and none of it comes back to you.

This one splits it. Half the fee is yours, paid in Treasuries, every day.

A typical token herecreator takes 100 to 200 bps. Holders get nothing.

Bearer Bondcreator tax 100 bps. Half of everything collected is paid out.

Paid inSGOV, tokenized 0-3 month US Treasuries. Not our own token.

Paid whenEvery day at 20:00 UTC, pushed to your wallet. No claim, no approval.

What the coupon is worth

Arithmetic, not a forecast. Move the volume and see.

Daily trading volume

$200,000

Fees collected

–

1% base plus 100 bps tax

Paid to holders, daily

–

half of the fee, in SGOV

Per 1% of supply

–

a holder of 10,000,000 BEARER

Those are the real fee rates, measured across 627 launches on this chain, applied to a volume you chose. They are not a prediction and nobody is promising them. If the token does no volume the coupon is zero, and most tokens on this chain do no volume. The presets are what comparable tokens actually traded on 7 September.

What this chain paid creators in the last 24 hours

The biggest tokens on this chain right now, live. Not our tokens, and not a list we picked.

Token	24h volume	Mkt cap	Vol / mcap	Creator earned	Holders got	At our terms
Reading the chain

Creator earnings are that token's own tax rate applied to its real traded volume, using the fee rates measured across 627 launches on this chain. The last column is the same volume under this bond's terms, where half of the fee is paid out. Every one of these tokens paid its holders nothing, because none of them share the fee.

Term sheet

Fixed at issue. Any change is published before it takes effect.

Instrument	Bearer bond
Symbol	BEARER
Contract	not yet issued
Chain	Robinhood Chain id 4663
Launchpad	Pons V2
Quote asset	SGOV tokenized 0-3 month Treasuries
Supply	1,000,000,000
Mintable	No

Form	Bearer. No registry, no allowlist, no KYC.
Coupon basis	50% of creator fees received
Coupon asset	SGOV
Frequency	Daily, 20:00 UTC
Record date	Holder snapshot at the coupon block, 20:00 UTC daily
Entitlement	Whoever holds at the record block. Buy after a coupon is struck and you start from the next one. Nothing accrues and nothing is owed between coupons.
Payment	Pushed to holders. No claim, no approval, no contract holding funds.
Maturity	None. There is no principal and no redemption.
Creator tax	100 bps

Where the coupon comes from

Read live from the chain.

Fees earned, lifetime

–

Creator fees credited to this token

Accrued since last coupon

–

Half of this is the next coupon

Paid to holders, lifetime

–

SGOV distributed across all coupons

Pons pays the creator of a token roughly one per cent of every trade, plus the creator tax set at issue, in both directions, on the bonding curve and on the pool after it graduates, for as long as the token trades. That fee stream is automatic and it is the only reliable income on this chain.

Half of it is the coupon. Fees arrive as ETH, are swapped to SGOV, and are sent directly to holders in proportion to their balance at the snapshot. There is no claim step and no contract holding anyone's money. If you held at the snapshot, the coupon is already in your wallet. The pool, the curve and the deployer are excluded from every snapshot.

Amounts too small to be worth sending roll into the next coupon rather than being dropped, and the carried figure is recorded in the ledger.

Coupon ledger

Every payment, with its transaction. Verify any line on the explorer.

Coupon	Record date	Block	SGOV paid	Value	Holders	Dust carried	Transaction
No coupons paid yet. The first is due at 20:00 UTC on the day of issue.

Holders

Live. Excluded addresses are marked and are never paid a coupon.

The pool, the curve, the deployer and the fee recipient are excluded from every snapshot, and so is any address holding the token in contract code, because a pool or a router cannot spend SGOV and paying one would destroy that share of the coupon. A smart contract wallet that really is a holder can be added to the allowlist on request. The full list is published at data/excluded.json and every snapshot records each contract it skipped, with its balance and share.

#	Address	Balance	Share	Note
Not yet issued.

Market

BEARER against SGOV.

The chart appears once the bond is issued and the pool exists.