Curated Funds by Own
Programmable ETFs built for the onchain economy, curated by the best traders.
A Curated Fund is one token that holds a basket of tokens: crypto, stock tokens, and the tokens that matter in an ecosystem. Curators, traders who live in that market, pick the basket and keep it current. You buy one token and get the whole basket, weighted and rebalanced for you.
| Property | Detail |
|---|---|
| What you hold | One ERC-20 fund token, backed by the basket the fund holds onchain |
| The floor | Redeem any time for your slice of the basket at NAV. Redemption cannot be paused |
| Ways in | Launch deposits, buying in the fund's pool, minting directly, or minting at NAV |
| Ways out | Selling in the pool, or redeeming for the basket (optionally swapped to USDG in the same transaction) |
| Yield | Staked fund tokens earn new fund tokens; the rate steps up as the fund trades above its NAV |
| Who runs it | Curators pick the basket; Own's keeper runs operations (rebalancing, pricing, yield) |
| Chain | Robinhood Chain, settled in USDG |
Why a fund
- One token, the whole market. When a token in the basket breaks out, the fund rises with it. You don't have to find it first, time it, or bet everything on one ticker.
- A rug costs its weight, not your bag. If one token goes to zero, the fund loses that token's share of the basket. Everything else is still there.
- A hard floor. Every fund token can be redeemed for its slice of everything the fund holds, at any time, with no oracle and no permission needed.
- Paid to hold. Staked fund tokens earn yield in fund tokens, and that yield rises when demand pushes the fund above its NAV.
- Everyone is paid by growth. Curators and Own earn from fees and a share of yield, so their income rises with the fund's size and activity, the same thing holders want.
How a fund works
- Launch. Own creates the fund with its basket, weights and curators. For a set window, anyone deposits any one basket token or USDG. Earlier deposits earn a bonus. See Launch.
- The pool opens at NAV. At the close, part of the raise seeds the fund's own fund-token/USDG pool and the rest is rebalanced to the target weights. Depositors get exactly what they brought, valued at NAV, and are staked from day one.
- Trade, mint or redeem any time. Buy or sell in the pool, mint new tokens by bringing a slice of the basket, or redeem for your slice. See Buying, minting & redeeming.
- Stakers earn. Staked tokens earn a yearly rate set by how far the fund trades above NAV, plus a share of the premium that buyers pay. See Staking & yield.
- Curators keep the basket current. They call the market: what to add, what to drop, how to weight it. The keeper rebalances the fund through onchain auctions. See Curators & the basket.
What NAV means
NAV (net asset value) is what one fund token is worth in the assets behind it:
NAV = (basket value + the fund's USDG + the USDG in the fund's pool position)
/ (fund tokens outside the fund's pool position)
The fund token can trade above NAV in its pool when demand is high. That gap is the premium. Redemptions always pay NAV, so NAV is the floor; the premium is what demand adds on top.
Worked example: one runner
A fund holds six tokens. One of them runs; the other five stay flat.
| The runner does | Its weight in the fund | The fund does |
|---|---|---|
| 10x | 25% | +225% |
| 5x | 15% | +60% |
| 2x | 15% | +15% |
| Goes to zero | 15% | −15% |
Holding the runner alone pays more if you picked it. Holding the fund pays without picking, and a rug costs its weight instead of the whole position. In practice the keeper trims a token that runs far past its target weight, which banks part of the gain.
Getting access
Curated Funds are open by referral in the app: each member has a referral link (own.money/r/CODE) that anyone can use to join. Buying, minting, staking and launch deposits in the app need access. Selling, redeeming, unstaking, claims and refunds never do. The gate is in the app only; the contracts themselves are permissionless.
How funds fit with eUSD and $MONEY
Own has two main products: eUSD, the stablecoin backed by the S&P 500, and Curated Funds. $MONEY ties them together. Own is a curator of every fund and takes a share of its fees, which is why $MONEY works as the fund of funds. See How $MONEY fits.