Stocks trade all night.
Your USDG earns the fees.
Deposit USDG into a Well. It provides liquidity for one tokenized stock, collects a fee on every trade, and pays 70% of it back to you. Withdraw any time, market open or closed.
What a Well does with your USDG
One Well per stock. Each is its own contract with its own cap, so trouble in one never spills into another.
You deposit USDG
You get Well shares that track your slice of everything the Well holds. New deposits wait for the next rebalance, then go to work.
The Well provides liquidity
A keeper places a tight price range around the Chainlink price and moves it as the stock moves. Every trade through the range pays a fee.
Fees split 70 / 30
70% compounds into the Well, so each share is worth more. 30% buys $WELL on the market and burns it. Both numbers are limits in the code.
Where every fee dollar goes
The protocol's share is capped at 30% in the Well contract. Governance can lower it and can never raise it. The contract that buys and burns $WELL has no withdrawal function, so what goes in only leaves as burned tokens.
Collected fees are spent on $WELL and burned once its pool opens on Pons.
Borrow against your shares
Pledge Well shares on the Borrow Desk and draw USDG. Collateral is valued at the Chainlink price, never the pool price.