Mechanics as designed
The mechanism,made explicit.
An $NVDA elastic capital reserve protocol on Robinhood Chain. A reference for the tokens, the positions and the mechanics that connect them.
$NVDA01 / The system
One loop. Distinct roles.
ENVY targets parity with NVDA, the tokenized Nvidia reference asset. It uses an elastic supply response, rather than a promise of direct redemption against collateral.
When the time-weighted reference price is above parity, the Registrar issues new ENVY to vested EQUITY positions. Below parity, issuance pauses. ENVY can leave circulation through the discount desk, voluntary burns and discretionary reserve buybacks.
- Acquire ENVY or provide liquidity
- Obtain EQUITY & vest
- Receive vEQUITYYour vested ERC-721 position.
- Claim available ENVYSubject to the claim window.
Enter through currency or liquidity
Buy ENVY or provide liquidity. Obtain EQUITY through the OTC Desk, the rewards program or the open market, then vest it in the Registrar.
Choose what happens next
Claimed ENVY can be sold or recycled through the desk. Neither a vested position nor a supply target guarantees distributions or a return to parity.
02 / The name
A reference worth watching.
The name connects Nvidia’s early “NV”, short for “next version”, with invidia and its root invidere: to look upon.
For envy.capital, that reference is literal. The system watches NVDA, and the parity mechanism is measured against it.
03 / The glossary
Know what you hold.
The currency, the shareholder token and the vested position have different jobs. NVDA is their external reference, not a protocol-issued asset.
NVDA
Reference assetTokenized Nvidia stock native to Robinhood Chain. Used as the parity reference and the asset in which hook management fees are collected.
- Origin
- External to the protocol
- Dependency
- On-chain availability and liquidity
ENVY
Elastic currency / ERC-20Issued through the Registrar during qualifying periods. Supply can contract when ENVY is burned at the desk, voluntarily, or through discretionary buybacks.
- Supply
- Uncapped, elastic
- Reference
- 100% NVDA parity
EQUITY
Shareholder token / ERC-20The fixed-supply token used to create Registrar positions. Holding liquid EQUITY alone does not earn newly issued ENVY; it must be vested.
- Supply
- 7,000,000 fixed
- Destinations
- Offering, treasury, desk, LP rewards
vEQUITY
Vested position / ERC-721An NFT that records the underlying EQUITY, vesting timestamps and earning power. It is a position, not an interchangeable liquid token.
- Entitlement
- Position-specific earning power
- Redemption
- Underlying EQUITY at vest expiry
Why an NFT? Positions can have different vesting timestamps and earning power even when they contain the same amount of EQUITY. The supplied design does not support merging positions.
04 / The reference
A target, not a guarantee.
The ENVY:NVDA Uniswap v4 pool supplies a time-weighted benchmark. The protocol compares that reference with the 100% parity target, rather than reacting to a single spot-price observation.
ENVY / NVDAAbove parity
Qualifying periods issue ENVY to vEQUITY positions, weighted by their earning power.
Below parity
Issuance pauses. The supply target does not guarantee that market price will recover or that reserves will intervene.
The supplied reference uses an 8-hour period, or three periods per day, and an 8-hour pricing benchmark. Period timing alone does not guarantee a distribution.
05 / The position
Vest EQUITY. Hold the position.
The Registrar turns vested EQUITY into a vEQUITY NFT. Each position has its own earning power, determined by its size and vesting terms. Two equal-sized positions can therefore have different earning rates.
- 01
Acquire & vest
Obtain EQUITY, choose the available vesting terms and receive a vEQUITY position.
- 02
Accrue when eligible
Qualifying 8-hour issuance periods allocate ENVY by earning power.
- 03
Claim within the window
The supplied design has a 12-hour claim cooldown for each vEQUITY position and a 24-hour expiry after rewards become claimable. Expired, unclaimed rewards are burned.
- 04
Redeem or re-vest
At vest expiry, redeem the underlying EQUITY or create a new vested position.
06 / The discount desk
Two routes into EQUITY.
The OTC Desk exchanges ENVY or accepted reserve assets for EQUITY through a time-weighted quote. The received EQUITY arrives as a vested vEQUITY position.
Burn ENVY
ENVY is destroyed, rather than transferred to a reserve wallet. The desk creates the corresponding vested EQUITY position.
ENVY burned vEQUITY received
Deposit an accepted asset
An accepted asset, such as USDG, goes to the protocol. The asset is not burned; the depositor receives a vested EQUITY position.
Asset deposited vEQUITY received- Position duration
- 14-day vest in the supplied desk design
- Quote reference
- 8-hour time-weighted benchmark
- Daily allocation
- 1,917.80 EQUITY; unused capacity does not roll over
Check the current quote, accepted assets and remaining allocation in the app. This issuance desk is distinct from the Market, where existing positions are traded.
07 / The rewards program
Liquidity in. EQUITY earned.
Gamma manages the Uniswap v4 liquidity positions. A Gamma receipt is fungible and can be staked for EQUITY rewards; a raw Uniswap v4 position NFT is not the same staking asset.
- Deposit one asset via Zap
- Receive a Gamma receipt
- Stake the receipt
- Earn EQUITY
NVDA / ENVY
Concentrated around parity, with the higher-emission allocation. The documented range is 0.9999–1.0001, weighted toward NVDA.
Concentrated rangeEQUITY / NVDA
A full-range position with the lower-emission allocation. Both pools use Gamma-managed liquidity and per-second reward emissions.
Full rangeProtocol LP liquidity: 90-day vest. This term applies to the protocol-owned LP liquidity funded by the founder offering. Gamma vault deposits and buyer vEQUITY positions have their own terms.
These pool shapes explain the intended ranges; they are not measured liquidity charts.
08 / Custody & discretion
Protocol assets. Defined limits.
Protocol reserves receive management-fee revenue and accepted assets from the desk. ENVY burned at the desk does not enter reserves. The reference describes treasury and backing wallets secured by 2-of-3 multisignature control.
What reserves may do
- Buy ENVY and burn it below parity.
- Fund market making and marketing.
- Allocate assets at the controlling multisig’s discretion.
What reserves do not promise
Reserve assets are not automatically redeemable by ENVY or EQUITY holders. A “backing” wallet is not a direct collateral claim or a guaranteed price floor.
Treasury
0xE2F489Bc09721C255c3Bf34c3Fb5d991C71F1713Backing
0x197Fe8c2B7dbbc974992064A8eE7F3B863B11a7BWallet addresses are reproduced from the supplied reference. This page does not independently verify signers, ownership or current balances.
09 / The allocation
A fixed supply. Four destinations.
EQUITY has a fixed supply of 7,000,000. The published allocation divides it between the founder offering, treasury, OTC Desk and liquidity rewards.
7,000,000 EQUITY total- LP rewards
- 5,075,000 EQUITY72.5%
- OTC Desk
- 1,400,000 EQUITY20%
- Founder Offering
- 350,000 EQUITY5%
- Treasury
- 175,000 EQUITY2.5%
Allocation is not vesting
The chart shows each destination’s share of the total supply, not a linear release schedule. IFO buyer vEQUITY positions use a 14-day Registrar vest, with expiry rounded up to an 8-hour boundary. The 90-day vest applies to the protocol’s LP liquidity.
The genesis position
The design vests a portion of EQUITY at genesis to establish the Registrar’s initial earning-power denominator. The supplied reference does not specify its amount.
10 / Verification
Verify before you deposit.
The directory below preserves the addresses supplied with the reference. Unpublished addresses remain unpublished. Nothing here substitutes for checking the contract, network and current deployment.
| Contract | Address | Explorer |
|---|---|---|
| ENVY | Not yet published | — |
| EQUITY | Not yet published | — |
| NVDA | 0xd0601ce157db5bdc3162bbac2a2c8af5320d9eec | Robinscan |
| USDG | 0x5fc5360d0400a0fd4f2af552add042d716f1d168 | Robinscan |
| vEQUITY position NFT | Not yet published | — |
| Registrar | Not yet published | — |
| OTC Desk | Not yet published | — |
| Uniswap v4 hook | Not yet published | — |
| Protocol Reserves multisig | Not yet published | — |
| OTC overflow multisig | Not yet published | — |
11 / Read carefully
Know the risks.
envy.capital is an experimental onchain protocol. It is not a bank, holds no customer funds, offers no accounts, and is not a regulated financial institution of any kind. Nothing here is investment advice. Participate at your own risk.
Assets in treasury wallets are property of the protocol and are not formal backing or collateral.
Nothing on this protocol is an offer to sell securities, investment advice, or a recommendation of any kind.
Digital assets may lose some or all of their value. Distributions may be zero. Please use with caution.
This reference describes the supplied design, not independently verified deployed behavior. Parameters can be modified by the controlling multisig and documentation may become outdated. Where they differ, the deployed contracts determine actual behavior.