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Specification · 04

Price units and Stock Token integration

Raw equity price versus multiplier-adjusted token price, applied exactly once.

A Stock Token references an underlying equity, but the token unit is not necessarily one share. Robinhood Chain documentation describes a multiplier relating the token unit to the underlying equity unit. Two different prices therefore exist and must never be confused:

  • Raw underlying-equity price. The price of one unit of the referenced equity, as published by the reference source.
  • Multiplier-adjusted token price. The price of one Stock Token unit after the multiplier is applied.
tokenPrice = equityPrice * multiplier   // apply exactly once

// An adapter that receives an already-adjusted feed must NOT
// multiply again. Double application silently misprices every
// intent, limit check and matched amount in the batch.

An adapter for a Stock Token is designed to be explicit about:

  • Which price it received, raw or adjusted, and in what decimals.
  • Token decimals versus quote-asset decimals, so amounts never drift by an order of magnitude.
  • Feed freshness, with a maximum acceptable age before intents must be repriced.
  • Corporate actions such as splits, symbol changes and distributions, which can change the multiplier or the asset identity itself.

The Inventory Lab now reads this reference data live. Because no Stock Token trades, it loads the underlying listed share from a free public source (Yahoo Finance, delayed and unofficial) and uses it as an explicit stand-in for the token price, with a multiplier of one. It also reads reported splits and dividends for the trailing two years. A print older than 48 hours, or a corporate action inside the last week, marks the freshness check invalid, so the candidate batch is blocked and the intents must be repriced.

Reference: the official Robinhood Chain Stock Token and Stock Token API documentation, listed under Research sources. Referencing documentation is not an integration, and a delayed public equity feed is not a Stock Token price oracle.