> For the complete documentation index, see [llms.txt](https://docs.gage.cash/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.gage.cash/start-here/two-lanes.md).

# Two lanes: stocks and memes

Stocks, memes, LP positions and Robinhood-ecosystem tokens look different and work the same. What qualifies, how each is valued, and the line lenders read.

Every category uses the same contracts and the same deal. What differs is what qualifies as collateral, how far the app lets you borrow against it, and the line lenders read. The app shows three categories: **Stocks**, **Memes** and **RH ECO**, the Robinhood-ecosystem tokens (PONS, STANDARD, BOW, HOOKR, INDEX, UBIK, ZZZ). Underneath there are two lender lines.

## Stocks and positions

| What                        | Details                                                                                                                                             |
| --------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------- |
| Collateral                  | Robinhood Stock Tokens on the allowlist, and WETH. Uniswap positions no longer back new loans; see [Existing LP-backed loans](/borrow/positions.md) |
| Most you can borrow against | 90% of value for stocks and WETH. The app suggests an amount and a cost below that ceiling.                                                         |
| Valued from                 | The deepest route the valuation service finds to USDG on Robinhood Chain, through USDG or ETH pools                                                 |
| Lender line                 | You may end up holding the collateral instead of USDG.                                                                                              |

Stock Tokens are ERC-20s issued on Robinhood Chain that track tokenised stocks. Dividends and splits are handled by an on-chain multiplier; raw balances never change. gage stores raw units on-chain and scales them only in the interface.

A Stock Token can be paused around a corporate action. Deals keep advancing; withdrawals of that token wait until trading resumes. Rewards are not paused.

A dividend the issuer reinvests raises the multiplier of the pledged tokens, and a split scales it; the tokens themselves never change. A loan's details name any dividend or split while the stock was pledged. It stays with the tokens: the borrower keeps it on repayment, and the lenders receive it if the borrower walks away.

## Memes and ecosystem tokens

| What                        | Details                                                                                                                                                                                                                       |
| --------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Collateral                  | A token admitted by the rules in [Collateral rules](/protocol/collateral-rules.md): a Uniswap pool with enough depth, against a stock, USDG or ETH, at least seven days of history and a market cap of 1,000,000 USDG or more |
| Most you can borrow against | 70% of value. The app suggests an amount and a cost below that ceiling.                                                                                                                                                       |
| Valued from                 | The deepest route to USDG: the token's main pool, then that stock's or ETH's USDG pool                                                                                                                                        |
| Lender line                 | Memes can go to zero. If the borrower walks away, you hold it. For RH ECO: Ecosystem tokens can go to zero. If the borrower walks away, you hold it.                                                                          |

A meme qualifies by rules, not by taste. Each admission is recorded in [Collateral rules](/protocol/collateral-rules.md) with its own minimum.

## The same deal underneath

Every category:

* Is funded in USDG, in four quarters, and capped in USDG.
* Fixes the cost and the date at full funding.
* Receives sGAGE for both sides while the week's budget and rates allow.
* Settles by the borrower's choice at expiry, on the same deadline.

On Borrow, the category follows from what you pick in your wallet.


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation by asking a question.

Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters:

```
GET https://docs.gage.cash/start-here/two-lanes.md?ask=<question>&goal=<user_goal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case.

The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.