Getting started
How Kavo works
Kavo runs the same sequence for every listed Stock Token. Each step produces a distinct number, and Kavo keeps those numbers separate rather than blending them into a single price.
The flow
- 01
Fetch the supported Stock Token
Kavo reads the listed Robinhood Stock Tokens along with their token address, decimals and current multiplier. - 02
Read the reference equity price
The underlying equity bid and ask come from Robinhood's price endpoint. This is the price of the stock, not of the token. - 03
Normalize using the multiplier
One token is worth the underlying share price multiplied by the token’scurrentMultiplier. Kavo applies this before any comparison. See Pricing. - 04
Read the onchain oracle price
Where a Chainlink feed exists for the asset on Robinhood Chain, Kavo reads it as an independent fair-value check. It is shown alongside the other prices, never merged into them. - 05
Request executable quotes
Kavo quotes the trade across the venues it supports and keeps the best fill. See Routing. - 06
Calculate the basis
The basis compares the executable onchain price against the normalized reference price. See Basis. - 07
Show premium or discount
A positive basis is a premium, a negative basis is a discount. Thin and clearly detached markets are labelled rather than hidden. - 08
Let you trade it
If a route exists, Kavo builds the transaction and your wallet signs it. See Trading.
Three prices, never collapsed
The single most important idea in Kavo is that these are three different things. Treating them as one number is how a basis figure becomes meaningless.
| Price | Source | What it means |
|---|---|---|
| Reference | Robinhood equity price endpoint | The underlying stock price, normalized into token terms by the multiplier. What one token should be worth. |
| Oracle / fair | Chainlink feed on Robinhood Chain, where one exists | An independent onchain fair value for one token. Used as a cross-check, not as the trading price. |
| Executable | Live quote from onchain liquidity | What a real swap of your size fills at. This is the number Kavo trades on. |
Why the executable price is the one that matters
A mid-price tells you where a market is nominally marked. It does not tell you whether you can transact there. A basis computed against a price nobody will fill is not an opportunity, so Kavo quotes the trade at your actual size and reports that.
When there is no route
Many listed Stock Tokens have no usable onchain liquidity at any given moment. In that case Kavo shows No executable route and does not display a tradable price or a basis derived from one. Nothing is estimated to fill the gap.