Settlement & oracles

The settlement source

Chainlink is the canonical oracle infrastructure of Robinhood Chain, it powers the chain's own Stock Token pricing. NIGHTHOOD uses the same rails: the official 4:00 PM closing print anchors each night's reference price, and the official 9:30 AM opening print settles every gap position.

This is what makes gap markets cleaner than prediction markets: there is no resolution committee, no UMA dispute window, no ambiguity. The exchange prints one number and everyone settles against it.

Settlement flow

16:00 ET  Chainlink posts official close  → GapMarket.openNight(closePrice)
09:25 ET  Position opening freezes         → 5-min pre-settlement window
09:30 ET  Chainlink posts official open    → GapMarket.settle(openPrice)
          PnL = margin × leverage × gap × side
          USDC paid out same block

Edge cases

• Trading halts / delayed opens, settlement waits for the first official print of the session. Positions stay margined and markable against the live token price.
• Corporate actions, splits and dividends adjust the reference close by the standard adjustment factor, sourced from the same feed.
• Oracle outage, settlement falls back to a time-weighted average of the first 5 minutes of on-chain Stock Token trading after the bell, a fallback that is itself on-chain and verifiable.