testudo
Buy $TSTD SOON
Robinhood Chain · launching on Pons

Your stocks.
Under a shell.

Testudo sells on-chain protection for stock tokens. Pick a stock, a floor and a term. If the price closes below your floor, the smart contract pays you the difference.

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$TSTD contract
Launching soon on Pons
Explorer
SHIELDS PAID TODAY0·waiting for a fall…
I
The problem

Stock tokens never sleep. Your risk doesn't either.

i
Weekend gapsTokens trade 24/7 while the exchange is closed. Monday's open can land far from Friday's close, and there is nothing in between to react to.
ii
Stop-losses sell you outA stop fires at the next price, not your price. On a gap it sells at the bottom and you lose the position you wanted to keep.
iii
Hedging is for prosPut options need a broker account, approval levels and math most holders never touch. Nothing like that exists on-chain for stock tokens.
FRI CLOSEWEEKENDMON OPEN
MARKET CLOSED YOUR FLOOR −10% · $281 SHIELD PAYS $13 × shares $312 $268

A stop at −10% would have sold at $268. A Weekend Shield keeps your shares and pays the gap below $281.

II
How a Scutum works

Three steps. One shield.

A Scutum is a Testudo policy, named after the Roman legionary's shield. It lives in your wallet and pays out by itself.

01

Pick your shield

Choose the stock token you hold, how far it can fall before the shield kicks in, and for how long.

TSLA · $10,000 · floor −10% · 1 week
02

Pay the premium

One payment in USDC. The price comes from the stock's volatility, your floor and the term. Holders of $TSTD pay less.

Premium $49 · 0.49% of the position
03

Get paid automatically

At expiry an oracle reads the price. Closed under your floor? The difference lands in your wallet. No claim to file.

Closes at $268 → shield pays $421
SCUTUM #0421DRAFTACTIVE
StockTSLA
Covered$10,000 · 32 shares
Floor−10% · $281.16
Term7 days
Drag the floor: closer is pricier
Premium$49.25paid in USDC · tier Civis
Shield paid+$421
III Three shields

Protection for how you actually hold.

Keep scrolling →

Phase I
Stock Shield

Protect one stock token against a fall below your floor for a week or a month.

  • Floors from −5% to −30%
  • Terms: 1 week or 1 month
  • Payout capped at 25% below the floor
TSLA · NVDA · AAPL · AMZN · MSFT at launch
Phase II
Weekend Shield

Cover the gap between Friday's close and Monday's open, when the market is shut but tokens still trade.

  • Bought until Friday close, settles at Monday open
  • The cheapest way to sleep through the weekend
  • Earnings-week variant on the list
The shield built for 24/7 stock tokens
Phase II
Basket Shield

One policy on a whole basket, priced on the basket's volatility, which is lower than each stock alone.

  • Mag-7, AI, or your own mix
  • Cheaper than shielding each stock
  • Pays on the basket's total value
For portfolios, not single bets
Price your shield →
IV
Who takes the other side

Every premium has a home.

Testudo works like an insurer. The pool sells protection, the price covers the expected payouts plus a margin, and the protocol earns a fee on every policy whatever the market does.

Holders

Buy a Scutum

Pay a premium to keep a stock position with a floor under it.

→
The Legion pool

Underwrites the risk

Liquidity providers deposit USDC. Premiums are their income; payouts are their cost. Priced so that, on average, premiums beat payouts.

Expected payoutsPool margin to LPs and stakers12% protocol fee
→
Protocol

Fee on every policy

60% of the fee buys $TSTD on the market and burns it. 40% pays for oracles, keepers and development.

Why can't you just buy a −1% floor and cash in? You can, but it costs about 4% of the position for a week on TSLA, because it almost always pays. The price follows the odds. See the pricing model →

V
$TSTD utility

Four jobs. All on-chain.

Cheaper shields

Hold $TSTD and your premiums drop. Legatus holders cut the pool margin and protocol fee in half.

First-loss staking

Stake $TSTD in the Legion's first-loss tranche. Earn a boosted share of premiums; cover payouts first.

Buyback & burn

60% of every protocol fee buys $TSTD from the market and burns it. More shields sold, less supply.

The Senate

Vote on which stocks get covered next, coverage limits per stock and the fee split.

Rank I

Civis

No $TSTD needed
0% off fees
Rank II

Legionary

Threshold set at launch
15% off fees
Rank III

Centurion

Threshold set at launch
30% off fees
Rank IV

Legatus

Threshold set at launch
50% off fees
VI
Safeguards

Built for the day everything falls.

The real risk for any protection pool is a crash where every policy pays at once. Five rules keep the Legion solvent.

iCoverage limit

The pool never sells more cover than it can pay in a severe market-wide drop.

iiStart delay

A shield activates hours after purchase, so nobody can insure a stock that is already falling.

iiiUtilization pricing

The fuller the pool, the pricier the next shield. Demand pays for its own risk.

ivFirst-loss tranche

$TSTD stakers absorb losses before USDC providers, for a higher share of premiums.

vCapped payouts

Each shield pays at most 25% below its floor. Worst cases have a known size.

VII
Roadmap

From launch to Legion.

Now0

Launch

$TSTD on Pons, this site, quote demo, X, GitHub.

NextI

Stock Shield

Shields on five stocks, Legion pool v1, oracle payouts.

LaterII

Weekend & Basket

Gap cover, baskets, holder tiers, first-loss staking.

LaterIII

Legion

Open pools per stock, Senate votes, SDK for apps.

Full roadmap with gates →

?
FAQ

Questions worth asking.

Is this a bet on the price falling?

No. A shield only makes sense when you hold the stock. If the price stays up, you keep your gains and the premium was the cost of sleeping well. If it drops below your floor, the payout offsets the loss.

Who pays me if the stock falls?

The Legion pool. Liquidity providers deposit USDC and earn the premiums; when a shield pays, it pays from the pool. $TSTD stakers in the first-loss tranche cover payouts first.

What if everything crashes at once?

The pool caps the total cover it sells, each shield has a capped payout, and prices rise as the pool fills up. The worst case is sized in advance and backed by the pool's funds. See Safeguards.

Where does the price at expiry come from?

From decentralized price oracles for stock tokens on Robinhood Chain, read by the contract at the settlement time. Weekend Shields settle on the first oracle price after Monday's open.

Do I need $TSTD to buy a shield?

No. Anyone can buy a shield in USDC. Holding $TSTD lowers your fees, and staking it lets you earn from the pool.

Where do I buy $TSTD?

On Pons, the launchpad on Robinhood Chain. The contract address appears on this site and on our X at launch. Any other address is not ours.

Testudo

See what your shield would cost.

Connect a wallet and get a personal quote with your holder discount.

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