How it works
Buy a story about a company. Trade it. On the date, it turns into the stock.
00Pick a narrative
A story about a company: a launch, a ruling, a number. Find one people are already talking about, and the stock it moves.
01Launch a token
Name it, pick the stock it converts to, and set the date. One transaction builds the token and its vault. You take 1% of every buy; the platform takes 0.5%.
02Buy or sell
Buys are paid in SOL, swapped for the stock and locked in the vault. The price follows supply: buys push it up, sells push it down. Selling before the date costs a 10% exit tax that stays in the vault.
03Expire into stock
On the date, trading stops. The vault is split across every token and sent to holders. Nothing to claim.
The numbers
1%
Creator fee
on every buy
0.5% + 1%
Platform fee
on buys, and of the vault on the date
10%
Exit tax
on sells, stays in the vault
1h – 2w
Lifetime
set at creation
Questions
What am I holding?+
A token that is a claim on the narrative's vault. The vault holds real tokenised stock. At the end, each token is paid its share of the vault in that stock.
What is a tokenised stock?+
A token on Solana backed one to one by a real share, from a regulated issuer. TSLAx is Tesla, NVDAx is Nvidia, and so on.
How is the price set?+
By supply, on the same curve pump.fun uses, priced in the stock instead of SOL. Every narrative has a billion tokens, 793.1 million of them for sale on the curve, and opens at the same market cap as a pump.fun launch. Buys mint tokens and move the price up. Sells burn them and move it down. The curve is set at creation and never changes.
What are the fees?+
The creator takes 1% of every buy and the platform 0.5%. On the date the platform takes 1% of the vault, which pays for the keeper that converts every holder. Selling before the date costs a 10% exit tax. That tax goes to no one. It stays in the vault for the holders left at the end.
Do I have to do anything on the date?+
No. A keeper closes trading and sends the stock to every holder, a few at a time. It takes a few minutes.
What if the story is wrong?+
The same thing happens. A narrative is not a yes-or-no bet. It always turns into the stock on the date. The story only drives the trading in between.
Can the creator take the money?+
No. The creator picks the stock, the story and the date, and takes the 1% fee. They cannot touch the vault, move the date, change the curve or mint tokens. The program enforces this.
How long does a narrative run?+
One hour to two weeks, chosen at creation.
Where does my SOL go?+
It is swapped for the stock in the same transaction and deposited in the vault. Nothing inside a narrative is held in SOL. Dollar figures on the site are the stock's live price times what is on chain.
What do I need?+
A wallet with some SOL. Sign in, pick a narrative, buy. To launch one, go to Create.