FLOORLaunch app

The venue opens at launch. Every number below is live mainnet data read through this site; the buttons that would send a transaction are off until then.

FLOOR is a permissioned venue run under the conditions of SEC Release No. 34-106402, the Innovation Exemption of 2026-09-17. The order is an exemption, not an approval or a registration. Only a wallet the venue has admitted and the issuer's transfer agent has allowlisted can swap or provide liquidity. A Nasdaq halt applies here the moment the keeper posts it.

Connect a wallet to see whether it can trade here.

Disclosures

What SEC Release No. 34-106402 asks a Tokenized Securities Venue to publish, read from the four programs' configuration accounts on chain. Where a value is not on chain yet, it says so.

Pricing model

Constant product. Each pool holds one stock token and USDC. A fill that pays x into the pool receives y = R_out multiplied by x' divided by (R_in + x'), where x' is x after the fee, and R_in and R_out are the two vault balances net of venue fees owed. Outputs round down and fees round up, so a pool can never pay out more than it holds. There is no reference to the national best bid and offer and no external price: the price is the pool's ratio, and every fill shows the Nasdaq last sale next to it for comparison. Each trader sets the least output they accept; the program refuses a fill below it. Program 3vkpdUbzcQ7p5Ak36kjcfmWmgpuH3syswtwa5CGina8j.

Oracles

No price oracle. Two keeper feeds, each a program with a named keeper set and a threshold of matching posts before a value applies:

  • Halt feed hZWUysrRYBmuindfRrE78rKuwG7iqQwKm5c9ZpAqk7o: a keeper posts the halt and resumption of each symbol as its primary listing exchange publishes them (Nasdaq Trader trade halts). Keepers: written at launch; threshold written at launch; keeper set changed only by not set yet (written at launch).
  • Volume feed riN4V5uUokJ2GqBVtbfnHpwUKmvCQv3A2Ygt7kNYmxN: a keeper posts each stock's prior-month consolidated average daily volume in whole shares once the month has ended; the monthly cap is 0.25 percent of it for Tier 1 and 2.5 percent for Tier 2. Keepers: written at launch; threshold written at launch. Only the venue program itself, not set yet (written at launch), may add executed shares to a month's count.

Price bands

None. The programs hold no band parameter around the last consolidated close, so no fill is refused for its distance from the primary market. The Nasdaq last sale is shown beside every quote so a trader sees the gap before signing.

MEV policy

Fills execute in the order the Solana leader includes them in a block. The venue runs no private order flow, no batch auction and no sequencer, and the programs have no instruction that can reorder, insert, cancel or front-run a fill. A trader's own minimum output is the only protection against a price move between quote and inclusion, and the venue takes no part of any difference. Fee share and reserves are readable by anyone at any slot.

Pause authority

  • Venue and pool pause, participant admission, quote assets and pool creation: not set yet (written at launch) (the venue authority, a multisig at launch).
  • Listing, voluntary pause and breach declaration per symbol: not set yet (written at launch) (the caps authority).
  • Issuer notices and objections: not set yet (written at launch) (the notice authority).
  • Automatic: a symbol stops when the halt feed says halted, when its monthly cap is reached, and for three months after a second cap breach. No key is needed for these.

Upgrade authority

  • Venue 3vkpdUbzcQ7p5Ak36kjcfmWmgpuH3syswtwa5CGina8j: reading...
  • Caps riN4V5uUokJ2GqBVtbfnHpwUKmvCQv3A2Ygt7kNYmxN: reading...
  • Halt feed hZWUysrRYBmuindfRrE78rKuwG7iqQwKm5c9ZpAqk7o: reading...
  • Notices 4MLRiWbL48QgrZivaHp1RzZPTPGLNDU9zqNHnbFxBuKr: reading...

Caps and listings

Tier 1: at most 75 symbols, each capped at 0.25 percent of prior-month consolidated ADV per month. Tier 2: at most 250 symbols at 2.5 percent. From 90 percent of a month's cap, a single fill may be at most 1 percent of the cap. A second breach pauses the symbol for three months. Listed now: written at launch.

Fees

0.30 percent of every fill's input. 80 percent of it stays in the pool for its liquidity providers; 20 percent is the venue's and accrues in the pool's vaults until the venue authority collects it to not set yet (written at launch). The largest fee the authority may set is 10 percent. No venue token exists, and the programs have no borrowing, lending or credit instruction.