Split a tokenized stock into a principal token and a dividend token, so you can trade or hedge the dividend alone.

Official links: Website (fletch.finance) · @FletchFinance (x.com) · Docs (fletch.finance) · Telegram (t.me)

What Fletch Finance does

• Deposit a stock token and get equal principal (PT) and yield (YT) tokens
• Redeem a PT + YT pair for the underlying stock at any time
• Buy PT to lock an implied dividend yield, or YT for dividend exposure
• Series per stock (e.g. SGOV, SPY, QQQ) with fixed maturities

No protocol fee in v1; the docs say trading pays a 0.30% swap fee that goes entirely to LPs. A planned FLETCH design would route part of the fee to buyback-and-burn and stakers.

Fletch Finance separates a tokenized stock's dividend stream from the share itself. Robinhood's stock tokens apply dividends and splits by growing a per-token multiplier rather than changing balances, and Fletch decomposes exactly that: deposit into a per-series vault and receive equal amounts of a principal token and a yield token, which at maturity divide the position between the two by the accrued dividend factor. The split conserves value precisely, so there are no liquidations and no bad debt, and burning equal amounts of both returns the underlying at any time. The hard part is telling a dividend from a split: a permissionless keeper posts that classification, an on-chain heuristic flags implausible ones, and a guardian has a day to dispute. The price a principal token trades at is the market's implied dividend yield. Treat it as early despite working contracts: on-chain the vaults hold about $30k, effectively a single deposit across two of the configured series, and no principal or yield pools exist yet, so the yields shown are computed rather than quoted. The documentation says prices come from Chainlink, while the shipped application reads a conventional market-data provider and the feed addresses are unset, and the site says an audit and a guardian multisig come before mainnet even as it describes itself as live.

• On Robinhood Chain since: 2026-07
• Team: Anonymous team: no one is named on the site or docs.
• Token: $FLETCH
• Audits: None published

Fletch Finance has a token, $FLETCH: FLETCH price, market cap, holders and trades.

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