> For the complete documentation index, see [llms.txt](https://shiftrwa.gitbook.io/shift_education/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://shiftrwa.gitbook.io/shift_education/shift_learn.md).

# Welcome

Real-world assets, onchain. Tokenized stocks and yield vaults.

### Welcome to SHIFT

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SHIFT brings real-world assets onchain through two kinds of products: Tokenized Stocks, bi-directional leveraged Series Tokens with zero liquidation risk, and The Vaults, which hold real-world assets and add extra yield on top.
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### Overview

SHIFT is a real-world-asset protocol with two product lines. Both keep the underlying assets off-chain, in regulated custody, and represent them onchain with tokens.

•      **Tokenized Stocks**. Series Tokens give 1×, 2× and 3× long and short exposure to equities, indices, ETFs and ETNs. Each token is backed 1:1 by the corresponding leveraged or inverse ETF. There is no liquidation engine and no forced close. Live on Solana, with BNB Chain coming.

•     **The Vaults**. Stablecoin-native vaults that hold a real-world asset and add a yield strategy on top. Two covered-call vaults hold SPY and COPX and sell monthly out-of-the-money call options against them. USD Yield+ holds a managed fixed-income portfolio. 

The protocol runs on three token types:

•    **Series Tokens:** membership-interest tokens for leveraged products, for example SPX3L, SOX3S, TSL2L

•      **Vault tokens:** receipt tokens minted on deposit, representing a share of a vault 

•    **$SHFT:** the future protocol token, used for governance and rewards distribution