Every company here is publicly listed and priced every trading day — its stock just is not tokenized on this chain. 194 are; roughly seven thousand listed securities are not. Back a community ticker now, and if Quantum Relay verifies a real token for that company, the curve capital becomes stock-paired liquidity. Anyone who wants the actual stock uses a different vault, funded by a different pool of capital.
Every token launched against a stock that is not onchain yet. Open one to see its market.
This is the design decision everything else follows from. The token market and the stock vault share a verified event, not a balance sheet.
Buy and sell a community ticker on its USDG curve today. Net curve principal stays redeemable until the freeze block. A dedicated 3% bucket accumulates alongside it, earmarked for the future stock side.
Deposit USDG under a conditional purchase instruction. No stock price is locked. After verification the vault batch-buys the real token and distributes it pro rata, with any residual USDG returned.