Dipnote turns a limit order into a note. Pick an asset and the price you would pay. Until the market gets there, your USDG earns in Morpho.

Compose a note Read the charter

§ I · The idea

Everyone has a price they would buy at. Almost no one earns while they wait for it.

A resting bid is idle money. A dip note is the same bid, written down, with the dollars put to work until the price arrives. If it never arrives, you take the dollars back with whatever they earned.

  1. 01

    You set the price

    Pick the asset, the price and how long the note stays good. It never fills at a worse price than yours.

  2. 02

    The dollars earn

    While the note waits, its USDG is lent on Morpho at the going rate. The rate is variable.

  3. 03

    The agent watches

    An agent reads the price feed around the clock and fills the note when your price prints.

§ II · The note

Write it once. Let the market come to you.

Asset
USDG
—market —
Good for

The note pays

Specimen only. Notes cannot be issued yet because the contracts are not deployed. Figures use current prices and today's variable lending rate, and are estimates.

§ III · Life of a note

Five things happen. You do the first one.

One transaction from you. The contract and the agent do the rest, and every step is public on Robinhood Chain.

  1. I

    Written

    You sign one transaction with the asset, the price, the amount and the expiry. The note is minted to your wallet as a token you can hold, send or sell.

    You
  2. II

    Reserved

    The USDG is supplied to a Morpho lending market and starts earning what borrowers pay. The rate moves with the market and is never promised.

    The contract
  3. III

    Watched

    The agent reads the Chainlink price around the clock. When it is at or under your target, anyone may trigger the fill. The agent just gets there first.

    The agent
  4. IV

    Filled

    The contract withdraws your USDG and buys on Uniswap in the same transaction. It reverts unless you receive at least what your price implies, less the slippage cap you chose.

    The contract
  5. V

    Settled

    Redeem the note for the asset if it filled, or for your USDG and its interest if it did not. You can cancel at any time before a fill.

    You

§ IV · The board

The Board of Governors. All of them retired some time ago.

Drag to turn

§ V · Reserves

Statement of condition. Read from the chain, not from us.

These are the markets a note would use, as they stand now. Dipnote holds nothing yet.

—%

Reserve rate, a year, variable
Morpho USDG market

30-day average of that rate
—
USDG lent on Morpho, Robinhood Chain
—
Withdrawable now from the reserve market
—
Deepest ETH / USDG pool
—
Ether
—
Notes outstanding
0 pre-launch

Reading the markets…

§ VI · The desk

Or just say it. The agent writes the note.

CableBy chat

buy 500 USDG of ETH at 1,650, good for 14 days

Drafted. One note for 500 USDG, fills at $1,650 or better, expires in 14 days. Sign to issue.

CableBy reply on X

note: NVDA at 140, 2,500 USDG, 30 days

Drafted. Stock notes fill during US market hours. Open the link to review and sign.

CableBy MCP, for other agents

draft_note({ asset: "SPY", target: 700, usdg: 10000, days: 60 })

Returns an unsigned transaction. The agent can draft a note. Only the holder can sign one.

The desk opens at launch. The messages above are examples.

§ VII · The charter

The fine print, in full-size type.

Gold nomisma of Constantine IX
Patron of this section: Constantine IX, under whom a sound coin began to lose its gold.
  1. § 1

    Lending risk

    Your USDG is lent on Morpho. If the collateral in that market fails, its lenders can lose money. Dipnote does not insure this.

  2. § 2

    Liquidity

    Lending markets run close to fully borrowed. A large withdrawal can be delayed, which can delay a fill or a redemption.

  3. § 3

    Price and slippage

    Fills happen on Uniswap. Thin pools move. The contract reverts rather than accept less than your price implies, so a note can miss a fast dip.

  4. § 4

    Price feeds

    Stock feeds update only while US markets are open, so stock notes fill only in those hours. Ether notes can fill at any time.

  5. § 5

    Code

    The contracts are new and have not been audited. Deposit caps will apply at launch. Do not write notes with money you cannot afford to lose.

  6. § 6

    What a note is not

    It is not a deposit, a bond or a promise of yield. It is a conditional order with a lending position attached. Fees are not final and will be published before launch.

Write the note. Then go outside.

Compose a specimen

Prelim Contracts not yet deployed. Nothing on this page takes a deposit.