Managed stock indexes with no custodian to trust

Fides is a set of onchain stock indexes on Robinhood Chain. Each index is a single ERC-20 token backed one-to-one by a basket of tokenized stocks held in a vault contract. An autonomous agent manages the basket — rotating weights on a schedule — but it operates inside guardrails enforced by the contract itself.

The point is a clean separation that traditional funds cannot offer: management and custody are different powers. The agent decides weights. The contract holds the assets. Neither can reach past its lane.

Why this exists

Every managed fund runs on one quiet assumption: the manager won't touch your money. Custody sits with people and processes you can't inspect, and redemption happens on their timeline, not yours.

• Fully backed, provably. Token supply can never exceed what the vault holds — an invariant checked on every mint, redeem, and rebalance, not a monthly attestation.
• Redeemable anytime, in-kind. Burn the token, receive every underlying stock in one transaction. No queue, no approval, and no admin can pause it.
• Managed in the open. Every rebalance is a public transaction with its rationale attached. You can read why, not just what.

The loop

Mint — deposit the basket, receive the index token. Manage — the agent rotates weights within fixed rails (whitelist, slippage cap, turnover cap, cooldown). Redeem— burn the token, take the stocks back. That's the whole product; every arrow in it is a transaction anyone can verify.