What is the premium or discount on a tokenized equity?
The premium is the gap between what a stock token trades at onchain and what its underlying equity is worth, expressed in basis points. It is the defining signal on a tokenized-equity chain, and no provider on Robinhood Chain publishes it.
Computing it correctly requires reconciling sources with different conventions and cadences: Robinhood's raw underlying price on a 15-second cache, Chainlink's multiplier-adjusted oracle on a heartbeat, and observed DEX trades per block.
The arithmetic is (dex_mid − underlying_mid × multiplier) ÷ (underlying_mid × multiplier) × 10000. The hard part is not the formula but the as-of semantics — each input carries its own observation time, and treating them as simultaneous introduces error.
Divergence widens most when the underlying market is closed. The chain trades 24/7; Chainlink's equity feeds run 24/5. Overnight and weekend prints are a genuinely different regime, which is why session tagging matters as much as the price itself.