What can you actually do with a tokenized stock right now? Mostly hold it and trade it. Almost all of the products people actually use around stocks still live inside banks. Structured notes are a good example. They're products that pay you a regular coupon as long as a stock doesn't fall too far, and banks issued roughly $538B of callable structured notes last year. However, there’s basically no real onchain version of that market. @notesystems is trying to turn that desk into a protocol on Robinhood Chain. The easiest way to understand it is that a structured note is basically matching two different needs. • One side of users has stablecoins and wants yield. • The other side already owns a stock and wants protection if it falls hard. Normally, a bank sits between them. Note Systems replaces that middle layer with smart contracts. The stablecoin side deposits USDG and earns a coupon while the stock stays above a set barrier. The stock holder pays those coupons and gets downside protection without selling. Everything is locked upfront, so the note itself doesn’t have margin calls or liquidations. The interesting part is each COUPON and SHIELD position is an ERC-1155 token, so it can be moved, used as collateral, or plugged into other apps. They already have Credit through Morpho and Omni through LayerZero built around that idea. The full protocol is still on testnet for now, with 5k+ users and 48 note series so far. The points pre-season is live too, rewards grow with how much of the protocol you use, and they carry into mainnet, follow @notesystems for updates. Robinhood Chain already brought stocks onchain. Now Note Systems is trying to bring the financial products built around those stocks onchain too.