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DocsPTYTFAQ

Splitting

Split a token

A conversion, not a trade. One token in, one PT and one YT out, always at exactly one to one to one.

Splitting moves no price and touches no order book. It converts one asset into its two components, and it can be reversed by merging at any time before maturity.

How to split#

  1. 1

    Choose a token

    Any verified Robinhood Stock Token you have already deposited.
  2. 2

    Choose a maturity

    The date PT settles on, and the date YT stops collecting.
  3. 3

    Enter an amount

    Up to your deposited balance. The ratio is fixed at one to one to one.
  4. 4

    Review and confirm

    Equal PT and YT units are credited to your positions immediately.

Why split rather than buy a side directly#

Size and price control. A splitter acquires both sides at exactly their combined fair value — the token price — and can then sell the unwanted side into the market on their own schedule, rather than paying whatever the book asks for a single side all at once.