Robinhood Chain RWA token Kloven (KLV) is a utility token for structured splits of tokenized stocks on Robinhood Chain. Kloven (KLV) operates as a utility token on Robinhood Chain that supports splitting tokenized stock positions into separate Income and Upside legs. The mechanism uses a vault to create two independently tradable ERC-20 positions from a single stock token deposit. Holders can merge the legs back to the underlying token at any time without cost. Split mechanism It divides stock tokens into an Income leg below a cap and an Upside leg above it via auction. A descending-clock auction sets the premium for the Income leg, which retains value up to the chosen cap level. The Upside leg captures any movement beyond that cap. Settlement occurs on the third Friday using a 30-minute TWAP oracle price, with options for multiple caps such as 0%, 2%, 5%, or 10%. Platform and chain Kloven runs on Robinhood Chain with markets for assets like mNVDA, mMSFT, and mTSLA. The platform is accessible at kloven.fun and focuses on tokenized equities issued on Robinhood Chain. It supports live oracle feeds and epoch-based cycles lasting around 18 days. The contract address matches the one listed on the official site for the KLV token.

AI-written summary, not the project's own copy