NetNet Capital

NetNet Capital Management is the issuer of the NET token, which it describes as a reserve instrument trading on Robinhood Chain.​^[1]​^[2] NetNet Capital Management publishes a fund prospectus and shareholder documentation describing multiple on-chain desks and programs, including real world bonds, a managed futures test program, a Lombard credit facility and other credit products, a curated credit vault, a weekly treasury market, prize draws and other RW-Play games, and several tokenized-equity desks and games.^[5]​

Overview

NetNet Capital is a decentralized reserve currency protocol and tokenized asset platform operating on the Robinhood Chain.^[1] The central design claim is a net asset value (NAV) floor: NetNet states that every NET is backed by no less than 1 USDG in the treasury, and that reserves stand above that floor.^[1]

Distributions to holders — the fund's term for dividends — arrive every eight hours, three times each day. The payout rate is set by what NetNet calls an immutable formula that follows the market premium, and it is capped by reserves so that the NAV floor of at least 1 USDG per NET is preserved after each payment.^[1] NetNet frames this as "management without managers": holders stake NET and receive distributions on a fixed schedule set by formula rather than by a committee.^[1]​

RW-Play Games

The largest part of NetNet's activity is a suite of real-money games in which stakes and payouts are denominated in NET or in tokenized U.S. equities, a concept the fund promotes as "RW-Play" and describes as "the Next Meta" for tokenized real-world assets.^[2] Every game is labelled "for players 18 and over," and most carry a 5% house fee.^[1]

• WinNET Prize Draw — A nightly sweepstakes. Deposited funds are held as NET and staked, and the distributions that stake earns become the night's pot for a single winner. A participant's NET quantity remains theirs whether or not they win, though its dollar value moves with the market.^[1]
• Superstore / Boxes — "Boxed software" in which each Edition names a tokenized equity at a fixed price in USDG and holds a random quantity of NET, with the odds published on chain and printed on the box. Every box pays at least a stated floor, and on opening the buyer has 60 seconds to keep the NET or "uninstall" for a discounted share of the win in stock.^[1]
• Corporate Climb — A corporate-ladder role-playing game played for real money. Each purchase buys NET or a tokenized equity into the player's escrowed book, with three exits: resign and keep 80 percent, lose the career so the book joins the jackpot pool, or take "the Chairman's seat" and roll for the jackpot.^[1]
• Coin Flip — A provably fair coin flip settled on chain, with winners paid in COIN, the tokenized Coinbase stock, bought live at settlement. The 5 percent fee is described as the only house edge.^[1]
• Plinko (SPCX) — A reverse Plinko drop paying in SPCX, the tokenized SpaceX stock. The board returns about 90 cents on the dollar on average with a 5 percent fee on top, with odds printed on the machine.^[1]
• Crash (MSFT) — A crash game where reaching the player's set line pays the stake times that line in MSFT, the tokenized Microsoft stock. Each line returns about 90 cents on the dollar on average with a 5 percent fee, the flight ceiling sealed in a public randomness beacon.^[1]
• Blackjack (TURBO chips) — Six-deck blackjack where chips are "TURBO cards," each a five-times leveraged knock-out call on NVDA, the tokenized NVIDIA stock, worth about one dollar and held in the player's wallet. The dealer stands on all 17s and blackjack pays 3:2; the rules carry a 0.426 percent house edge against basic strategy, with a 1 percent rake taken at the door and nothing per hand.^[1]
• Grab Game — A 60-second game for two to four players, each staking 100 USDG on one of six tokenized stocks. Baskets worth five dollars fall to the floor and can be grabbed from other players; payouts settle in USDG while the winner's wallet buys their chosen stock. The house keeps 25 USDG of each seat, five of which feed a progressive jackpot rolled at 1 in 5,000 on a public randomness beacon.^[1]
• Long-Dated Desk — A live product selling cards at 5 USDG for 25× exposure on a tokenized equity, with NVDA and AAPL available at launch. Each card names a crash price and is worth the distance between the market price and that crash price, becoming worthless if the market touches it.^[1]

Tokenized Equities and the RWA Sleeve

The tokenized equities acquired through the fund's Real World Bonds and Superstore products are held in the NetNet RWA Sleeve, a wallet custodied by the Manager and earmarked for the protocol's benefit. Holders can also subscribe with USDG to receive NET at a discount to the open-market price on a two-day vest, avoiding both slippage and the ordinary trading fee; the same transaction routes the subscriber's capital through Rialto into tokenized equities held by the Sleeve.^[1]​