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About Buttonwood
Buttonwood turns equity into a tranched credit instrument. The protocol began with a Tranche primitive and used it for Mooncake, a liquidation-free fixed-rate lending product; V1 now applies the idea to tokenised equities. A borrower pays a stablecoin down payment, an origination pool funds the rest, and the loan is repaid over 36 equal monthly periods. Each position is minted as an ERC-721 Mortgage NFT tracking collateral, payment history and rate. When collateral rises past a preset trigger price, the Conversion Queue converts part of the equity tokens to repay debt, so the borrower keeps the upside while the lender receives a defined return.
Collateral is restricted to equity tokens of companies above $1 trillion in off-chain market capitalisation, such as NVIDIA, Apple and Microsoft. Interest is simple, pool deposits are represented by the yield-bearing Consol token, and two vaults sit alongside: a Rollover Vault that auto-rolls into each epoch and a Fulfillment Vault that funds order execution. There is no liquidation threshold; risk is absorbed by the down payment and the conversion trigger. The design is chain-agnostic and can be deployed on any EVM network with supported collateral and a price feed, and the app already lists HyperEVM assets including HYPE and USDT0.
Buttonwood launched V1 on Robinhood Chain in the second half of 2026, letting borrowers take stablecoin loans against tokenized equities: they pay a stablecoin down payment, the protocol funds the rest, and the loan is repaid over 36 monthly periods. Each position is recorded as a Mortgage NFT and is never force-liquidated; once collateral rises past a trigger price, the Conversion Queue automatically sells part of it to pay down debt. The protocol also opened Buy Now Pay Later, Coin Compounding at roughly 2x exposure, and three lender routes, namely Lending Pool, Rollover Vault and Fulfillment Vault. Collateral is limited to equity tokens of companies above $1 trillion in market capitalization, with NVDA, AAPL, MSFT, SPCX, SPY and QQQ among the proposed launch set.
Buttonwood's Genesis campaign started alongside it with a single genesis origination pool: a 21-day deposit window followed by a 14-day deploy phase, bonuses of 5% to 20% for early lenders and borrowers, a maximum 1.4x points multiplier, and a nine-month program window.
According to Buttonwood's documentation, later releases will extend deployments to additional EVM chains and enable new collateral and price feeds through onchain governance. The reach of the USDX stablecoin and Consol yield tokens is also set to widen as the origination pools scale.
Manny Rincon-Cruz — Founder; financial historian and former executive director of the Hoover Institution History Working Group at Stanford, co-author of the Ampleforth and SPOT whitepapers.