The whole market,
in one basket.
Panira packs an entire index recipe into a single ERC-20. Frozen baskets are sealed at birth; agentic baskets restock weekly inside hard on-chain limits. Every mint fee splits 60% curator / 40% treasury — compiled into the splitter, not configured. And redeem never asks anyone's permission.
The shelf
Every basket is a single ERC-20 backed 1:1 by its components and priced from on-chain feeds. Frozen recipes are sealed at creation; agentic ones restock inside the policy rails.
Pack once. Carry everything.
From picking a recipe to a guaranteed exit — the whole loop lives on-chain.
Pick your recipe
Start from a preset — MAG7, the AI Six, a T-bill mix — or pack any recipe from the on-chain market in the basket studio.
Mint the whole aisle
One deposit packs every component into the basket. From then on the recipe lives in a single ERC-20 — one balance, the whole index.
Carry it home, anytime
Redeem never reads the oracle and never asks permission. Exit is a contract guarantee, not a stock-keeper's promise.
The fresh board
Every component on the shelf is a tokenized stock or ETF with its own on-chain price feed — the same feeds the contracts read at mint.
Sealed shut, or restocking
Both are baskets. The difference is who — if anyone — may ever touch the recipe.
Frozen baskets
MAG7 · HOOD6 · AI6The recipe is sealed at creation and can never change. What you pack is what you unpack — forever. Index purism, compiled in.
- Immutable recipe — no key can alter it
- Mint rounds up, redeem rounds down — always backed
- Oracle-priced at mint; redeem never reads the feed
Agentic baskets
TBILL · CT · VIRTA curator's agent restocks the recipe roughly weekly — but only after a 7-day cooldown, and only inside a hard 0.5% NAV-drift bound. Excess restock gains are distributed to holders in USDG.
- 7-day cooldown between restocks
- NAV drift per rotation hard-bounded at 0.5%
- Excess gains paid out in USDG — claim anytime
The rules, in digits
No roadmap prose — the whole policy fits in one grid, and each number is enforced by a contract.
What the basket holds, you can always carry home.
the redeem invariant — no oracle · no permission · no exceptions
Check the contracts, not the copy
Every number on this shelf is enforced by a contract on Robinhood Chain — open the explorer and verify.
60/40, compiled in
6000 bps of every mint fee routes to the curator — hardcoded into the FeeSplitter, not configurable, not a promise.
Permissionless redeem
Redeem is oracle-free and unstoppable. What you pack is what you can always unpack — the invariant the whole stall is built on.
Burn to create
A permanent basket license costs 10,000 $PNA (frozen) or 25,000 $PNA (agentic) — burned, so license supply only ever goes down.
Drift-bounded restock
Agentic curators may restock the recipe only after a 7-day cooldown, and each rotation may drop NAV by at most 0.5% — checked on-chain.
Staged deposit caps
Caps climb $100k → $500k → $2M → $10M, one stage at a time, and only when holder and TVL conditions actually pass.
Borrow against stocks
Use tokenized stock as collateral: 60% LTV, 85% liquidation threshold, 5% liquidation bonus, utilization-based interest.
Collateral that keeps working
Tokenized stocks and basket tokens don't have to sit idle — put them up and borrow USDG against them, or supply USDG and earn the full borrow rate.
Borrow against what you hold
Supply any market asset as collateral, borrow USDG at a utilization-based rate, and repay anytime. Lenders earn the full borrow rate.
Pack your own basket
Burn $PNA once for a permanent license, pack any recipe from the on-chain market, and earn 60% of every mint fee on your basket — forever, hardcoded.
Straight answers
The four things people actually ask before packing a basket.
Q01What backs each basket?
The underlying components, 1:1. Mint rounds up and redeem rounds down, so a basket is never under-collateralized by rounding. Prices come from the same on-chain feeds the contracts read at mint.
Q02Can anyone change a recipe?
Frozen baskets: no one — the recipe is compiled in at creation, with no key that can alter it. Agentic baskets: only the curator's agent, only after a 7-day cooldown, and only within a hard 0.5% NAV-drift bound enforced on-chain.
Q03How do I exit?
Redeem. It never reads the oracle, never asks permission, and cannot be paused — you always get the underlying components back. Excess restock gains on agentic baskets are claimable in USDG anytime.
Q04What do curators earn?
60% of every mint fee on their basket, hardcoded at 6000 bps in the FeeSplitter — not configurable, not revocable. The other 40% goes to the treasury.