Documentation
Stratton Market, explained simply.
How real penny stocks become tokens, how memes trade against them, and how the price stays honest.
Overview
Stratton Market turns real penny stocks into tokens, lets anyone launch a meme against one, and uses a market maker to keep the token price close to the real share price.
A stock-token is called a TICKERx. A share of Kartoon Studios becomes TOONx.
The loop
On Robinhood Chain. Not an offer of securities.
Stocks
One token equals one real share. The SPV (a company that only holds shares) buys the share, then mints the token against it. Minting needs no USDG.
Only the SPV / market maker mints and redeems, exactly like an ETF's authorized participant. You never mint or redeem yourself: you buy and sell TICKERx on the open pool, and the market maker keeps that price glued to the real share.
| Action | Who | What happens |
|---|---|---|
| Mint | SPV / MM only | The SPV holds the share and mints one TICKERx against it. |
| Redeem | SPV / MM only | The SPV burns tokens and sells the shares, closing its arbitrage. |
| Trade | Anyone | Buy or sell TICKERx on its pool. This never touches custody. |
Backing rule
There can never be more tokens than shares held.
token supply <= shares in custody
Anyone can check the coverage live on the Backing page.
Launchpad
Anyone launches a meme. It is priced in an approved stock-token, not in ETH. It sells on a bonding curve, so the price rises as more people buy.
| Setting | Value |
|---|---|
| Sold on the curve | 80% |
| Kept for the pool | 20% |
| Trade fee | 1% |
Graduation
When the curve sells out, the liquidity moves into a real Uniswap v4 pool and is locked for good.
Graduated liquidity can never be pulled out. No rug.
Keeping the price honest
A market maker closes any gap between the token price and the real share price.
| If the token is | The market maker | Price then |
|---|---|---|
| Too expensive | Mints new tokens and sells them | Goes down |
| Too cheap | Buys tokens and redeems them | Goes up |
The profit from selling when the token is expensive pays for the next batch of real shares. That is how the system funds itself. It runs on market hours, so it is not instant.
Reference
Contracts on mainnet
| Contract | Address |
|---|---|
| Launchpad | 0xBa394F790007dCdACafCC778DF49fa296EF407c9 |
| Graduation migrator | 0x0c2AFC11B4CFd181079B6d447328f7a28d14aFb7 |
| Liquidity locker | 0x13F2c2349A623E1B5eA86C1c87AfD49B286Ad947 |
| Buyback | 0x0d3550B63036dD5CBF669A09df61316b380B66Ea |
| CEX blocklist | 0xf93560B17766eA914c41489DF6A6c9b8103ecf39 |
| TOONx stock-token | 0x5a6c05faF7fFfdd40A2B16a2f300Df3CB3E9AeDf |
| DSSx stock-token | 0xe99d4365A5dA0F7A3919Fc1Fe37EcE79BdB16eDa |
| AIXIx stock-token | 0x749311461ddcF14A3502E06F56800BEB412935C2 |
Chain: Robinhood Chain (an Ethereum L3), id 4663. Explorer: robinhoodchain.blockscout.com.
FAQ
| Question | Answer |
|---|---|
| Is this a security? | No. Not an offer of securities or advice. |
| Do I need USDG to mint? | No. The SPV mints against the share it holds. |
| Can the liquidity be rugged? | No. Graduated liquidity is locked forever. |
| What chain is it on? | Robinhood Chain, an Ethereum L3. |