@FletchFinance

Fletch is a yield-splitting protocol live on Robinhood Chain mainnet that separates tokenized stocks (SGOV, SPY, USO) into principal tokens (PT) offering fixed yields up to ~7% and yield tokens (YT) representing tradeable dividend exposure.

Similar to Pendle's model for crypto assets but applied to tokenized equities.

The protocol launched in July 2026 with 3 markets live and 22 more planned, features a keeper-based dividend settlement system with 24-hour dispute windows, and is building the first on-chain dividend yield curve for stocks.

Green flags: Live mainnet deployment on Robinhood Chain with working product (3 markets: SGOV, SPY, USO) · Novel application of yield tokenization to tokenized stocks, differentiated from Pendle's crypto focus · Small early-stage footprint (1,738 followers, account created July 2026, ~2 months old) · Technical infrastructure with keeper system, dispute windows, and guardian mechanisms for dividend settlement · Clear roadmap with 22 additional markets planned and dividend yield curve feature in development

Red flags: Very new account (July 2026) with limited track record and only single Tier B scout signal · Dependency on Robinhood Chain's tokenized stock infrastructure creates counterparty/centralization risk · Low engagement (avg 33 per tweet) may indicate limited organic traction despite being live · No visible team information or backing disclosed in public materials