USOY, issued by Robinhood Europe, UAB, is a tokenized stock that gives one-to-one price exposure to the U.S.-listed shares of Defiance Oil Enhanced Options Income ETF through a blockchain-recorded derivative contract [S1][S2].

The token tracks the live market price of Defiance Oil Enhanced Options Income ETF (USOY), and if the underlying issues a dividend or distribution and eligibility requirements are met, the cash-equivalent amount is passed through automatically in euros and shown as a cash distribution [S3][S4]. Stock splits adjust token quantity proportionally [S3]. The holder bears a 0.1% foreign exchange fee on each order, with no commissions and no other fees charged by Robinhood, and that FX fee does not apply to dividend payments [S5][S6][S3].

The issuer is Robinhood Europe, UAB, a Lithuanian firm authorized and regulated by the Bank of Lithuania, and each token is an over-the-counter MiFID II derivative contract between the tokenholder and Robinhood Europe rather than ownership of the underlying security, so no shareholder or voting rights attach [S1][S5]. Robinhood Europe holds matching shares at a U.S.-licensed institution as a hedge, leaving the tokenholder with a contractual claim exposed to the issuer's insolvency risk [S5]. Access requires tax identification, KYC and AML checks, and a passed appropriateness assessment, and holders exit only by selling in-app, with proceeds withdrawable at T+1 [S6].

Tokens are recorded onchain and issued natively on Arbitrum, an Ethereum Layer 2 [S2]. One token is minted per underlying share when the contract is entered, trading runs Monday to Saturday in-app, and pricing is shown in U.S. dollar with automatic euro settlement [S1][S6].

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    { id: "S1", url: "https://robinhood.com/eu/en/support/articles/about-stock-tokens/" },
    { id: "S2", url: "https://robinhood.com/us/en/newsroom/robinhood-launches-stock-tokens-reveals-layer-2-blockchain-and-expands-crypto-suite-in-eu-and-us-with-perpetual-futures-and-staking/" },
    { id: "S3", url: "https://robinhood.com/eu/en/support/articles/corporate-actions-for-stock-tokens/" },
    { id: "S4", url: "https://robinhood.com/eu/en/invest/" },
    { id: "S5", url: "https://robinhood.com/eu/en/support/articles/stock-tokens-faq/" },
    { id: "S6", url: "https://robinhood.com/eu/en/support/articles/buy-and-sell-stock-tokens/" },
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Robinhood

Defiance Oil Enhanced Options Income ETF (Robinhood Classic Stock Token) (USOY) is a token tracking WTI crude oil, issued by Robinhood through Robinhood Europe, UAB.

Each token tracks one barrel of WTI crude oil and is a synthetic instrument that provides contractual exposure to the reference asset.

Retail investors and professional investors can mint and redeem directly with Robinhood after completing KYC, and holders have a contractual right to redeem, with same- or next-business-day settlement.

Robinhood Europe, UAB is incorporated in Lithuania, is a MiFID II financial instrument, and is supervised by the Bank of Lithuania.

Holder terms are governed by the law of Lithuania.

USOY has been issued on Arbitrum One as an ERC-20 token since December 2025.

Defiance Oil Enhanced Options Income ETF (Robinhood Classic Stock Token)USOY

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