> For the complete documentation index, see [llms.txt](https://docs.useicaria.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.useicaria.xyz/assets/asset-roadmap.md).

# Asset roadmap

Which asset classes follow Stock Tokens onto the venue, and what has to exist first.

Growth comes one asset class at a time, ordered by whichever set of listing requirements can genuinely be met on Robinhood Chain. What opens a stage is infrastructure that exists, never an announcement that it will.

## Stage 1: the Stock Token tail, live and widening

Tier A opened first. Tier B and C markets follow in batches, each waiting on a confirmed feed and a completed bytecode review. The tail is where a venue built for RWAs earns its keep, because these are exactly the assets that pooled designs either cap severely or refuse outright, and exactly the ones thin generic pools get most wrong. See the [Listing framework](/assets/listing-framework.md).

## Stage 2: treasuries, tokenized

Behind stablecoins, tokenized US Treasuries are the biggest transferable RWA category at roughly $16B, which makes them the natural second class: somebody stepping out of equity exposure ought to be able to reach yield without stepping off the venue.

What has to be true before the first treasury market opens:

* A treasury token present on Robinhood Chain, whether issued there or bridged over CCIP, from a regulated issuer, with a freely transferable design of the USDY sort rather than an allowlist-gated one.
* A Chainlink feed on chain 4663 consistent with NAV and pointed at that exact token.
* Everything on the [listing checklist](/assets/listing-framework.md), plus the NAV addendum: NAV-type assets quote inside a tight band around NAV, and the closed-regime logic hands over to how the fund itself accrues, since treasuries carry no weekend gap in the equity sense.

Where a token restricts transfers at the contract level, the vault goes out in its permissioned variant and gets allowlisted by the issuer, leaving eligibility enforced by the issuer's hooks and by Icaria's registry at the same time.

## Stage 3: gold, tokenized

Gold of the PAXG sort trades continuously against a spot reference and has no session structure at all, which will make it the most straightforward asset the venue ever lists: `OPEN` around the clock, with feed cadence and inventory the only things moving the spread. Its requirement is the one that applies everywhere else, namely the exact token bridged onto chain 4663 with a Chainlink feed of its own, alongside a bridge review covering the mint path, the custodian attestations and how the bridge pauses.

## Stage 4: whatever the chain puts out after that

Private-market tokens and further RWA classes have both been signalled by Robinhood for this chain. Whatever turns up faces the same checklist. Anything that cannot clear it (no feed for the token itself, no session signal, issuer terms left undisclosed) does not get listed, however loudly it is demanded.

## What gets refused

* Wrappers, vault shares or receipt tokens whose price would have to be computed rather than fed. Pricing the exact token is not negotiable, and the wGOOGLx episode of July 2026 is the case study, in [Lessons from RWA trading](/risk/lessons.md).
* Synthetics with no regulated issuer and no one-for-one backing.
* Anything whose bytecode review uncovers transfer controls that were never disclosed.


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