Box types
How boxes work
Every Bento box is a token that tracks a basket of assets. There are two ways a box can do that, and the difference matters for what you actually own. A third type combining both is planned.
1:1 Backed
The box vault holds the actual tokenized stocks on Robinhood Chain. When you mint, your ETH is swapped on a DEX into the underlying components and deposited into the vault. When you redeem, you get ETH from selling those reserves, or the tokens themselves delivered to your wallet.
- You own: a claim on real reserves, verifiable on-chain.
- Trust model: proof of reserves. The vault balance is public and must cover box supply.
- Limits: each component needs both a Chainlink feed and DEX liquidity, max 10 components per box. That keeps the menu narrow.
Current boxes: MAG7, AI3
Synthetic
The box tracks component prices through Chainlink oracles only. No underlying stocks are held; the vault holds ETH as collateral. You mint with ETH and redeem for ETH at the oracle-priced NAV. You get the price exposure, not ownership of the assets.
- You own: an ETH-collateralized claim that tracks the basket price.
- Trust model: oracle integrity plus a collateral floor in the vault. If feeds pause, mint and redeem halt for safety.
- Limits: any feed-listed asset works, no DEX liquidity needed, unlimited components. Wide menu, but nothing to take delivery of.
Current boxes: SEMI6, CRYPTOEQ, SPYQQQ
Mixed future
Some components held 1:1 in the vault, others tracked synthetically. Useful when part of a basket has deep liquidity on-chain and part does not. Planned, not built.
Tradeoffs, honestly
What you give up either way
1:1 backed gives you redeemability against real reserves: even if every oracle went dark, the tokens are in the vault and yours to claim. The cost is a narrow menu. Every component needs a live feed and enough DEX liquidity to mint and redeem without heavy slippage, and boxes cap out at 10 components. Thin pools also mean price impact on larger sizes.
Synthetic flips that. Any asset with a feed can go in a box, baskets can be as broad as an index, and there is no slippage from DEX routing. The cost is that you are trusting the oracle to price your position and the ETH collateral to cover it. You track the price of the basket; you never own the assets. A paused feed freezes mint and redeem until it resumes.
Neither type is strictly better. Backed boxes are for people who want reserves they can point to. Synthetic boxes are for people who want breadth and accept oracle risk to get it.
Mint and redeem
Mechanics by type
1:1 backed mint
Send ETH. The protocol takes its fee, splits the rest by component weights, buys each tokenized stock on the DEX, and deposits them in the vault. You receive box tokens if all slippage checks pass.
1:1 backed redeem
Burn box tokens. Choose ETH (reserves are sold back through the DEX) or direct delivery of your share of the underlying tokenized stocks.
Synthetic mint
Send ETH. The oracle prices the basket, you receive box tokens at that NAV, and your ETH stays in the vault as collateral. No swaps, no slippage.
Synthetic redeem
Burn box tokens, receive ETH from the vault at the current oracle NAV. If any component feed is paused, redeem waits until it resumes.
FAQ
Common questions
Which type should I pick?
If you want a claim on real reserves you can redeem for the underlying tokens, use a 1:1 backed box. If you want exposure to assets that have no DEX liquidity on Robinhood Chain, synthetic boxes cover a much wider menu once they launch.
Do synthetic boxes hold the stocks?
No. A synthetic box holds ETH collateral and tracks component prices through Chainlink feeds. You own exposure to the price, not the underlying tokens.
What happens if a price feed pauses?
For synthetic boxes, mint and redeem halt until the feed resumes. That is a safety measure: the protocol will not price the box on stale data.
Can I redeem a synthetic box for stocks?
No. Synthetic boxes mint and redeem in ETH at oracle NAV. Only 1:1 backed boxes support delivery of the underlying tokenized stocks.
What is a mixed box?
A planned future type where some components are held 1:1 in the vault and the rest are tracked synthetically. Not live yet.
Is any of this audited?
No. Bento is unaudited. Proof of reserves for backed boxes is verifiable on-chain, but that is not a substitute for an audit. Only deposit what you can afford to lose.
Proof of reserves for backed boxes is on-chain, see Reserves. New to the app? Start with the Guide.