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Overview
What Perigee measures, who reads it, and how the parts fit.
Perigee is an execution-quality layer for Stock Tokens on Robinhood Chain. It measures where every Stock Token trade filled relative to the oracle mid, aggregates the results into scores, and publishes those scores on-chain in a form other contracts can read.
The gap
The same Stock Token trades on several venues: Uniswap v4 pools, pools with dynamic-fee hooks, proprietary AMMs, perps venues and aggregators. Each venue publishes its TVL. None publishes where its trades filled relative to the reference price. A trader, vault or liquidator choosing a venue has no neutral, verifiable measure of execution cost.
Components
| Component | Role |
|---|---|
| Indexer | Open-source software that reads every Stock Token swap on every venue and computes slippage against the mid at the same block. |
| Reporter set | Staked operators that post one Merkle root of aggregated scores per day. |
| Dispute contract | Holds each report for 24 hours. Anyone can challenge it with a bond; a successful challenge slashes the reporter. |
| Read contract | Exposes bestVenue(token, size, state), a free view function over final scores. |
| Certification | Venues may post a $PRGE bond and pay a monthly USDG fee to carry the Perigee-verified badge. |
| Router (optional) | Sends an order to the best attested venue. Charges 0.05% of routed volume. |
Terminology
- Stock Token — a tokenized equity issued on Robinhood Chain by a third-party issuer.
- Venue — any contract where a Stock Token can be swapped against USDG or another asset.
- Mid — the Chainlink oracle price for the Stock Token at the block of the trade.
- Slippage — the signed distance between the fill price and the mid, in bps.
- Score — the aggregated slippage for one venue × token × size bucket × market state over one reporting day.
- Reporter — a staked operator that publishes the daily report.
- bps — basis points; 1 bps = 0.01%.
Status
Perigee is pre-launch. No contracts are deployed. $PRGE is not deployed and has no contract address. The simulator on the home page uses generated data for illustration only.