Know the market.
Follow the reserve.

nasdaq is an independent community launchpad on BNB Smart Chain. Start with 150 company references selected from a filtered Nasdaq-listed universe, configure your token, and deploy a market from your wallet. The live contract uses a fixed BNB exchange rate. A separate, disabled UP / DOWN research system is documented below.

The idea is to keep a focused universe of small public companies without pretending that a newly issued ERC-20 is a share. The collateral company and the reference company can be different. Their price relationship determines the paired payout.

Why two positions?

UP and DOWN share a bounded obligation. Every complete pair is minted against a received reserve deposit; its two maturity payouts add up to that reserve amount before integer rounding. The model does not require an unlimited promise to pay out every possible microcap price increase.

Where do Four.Meme and stock tokens fit?

Issued stock tokens available through the wider BNB ecosystem are potential collateral candidates. nasdaq’s own registry, factory and settlement logic sit at a different layer. A token being listed in Four.Meme’s configuration does not make it admitted collateral here, establish a partnership, or establish custody of our reference microcap shares.

No production stock-token collateral or oracle series has been admitted to the new nasdaq registry. The site’s candidate picker is a configuration preview.

There are two distinct contract systems. Check which one you are using before signing a transaction.

New-contract state at the deployment check: 2026-09-08 14:52:17 UTC. Launches disabled, zero admitted series and zero created synthetic markets. This is a dated verification record, not a live price feed.

Create a BNB community token

1. Open “BNB token · live”, the default mode.Select the company reference, then choose your token name and symbol. Add optional website, X and Telegram links; these are public onchain metadata.
2. Set supply and the fixed BNB rate.The interface accepts supply from 1,000 to 1,000,000,000. Review the effective whole-number tokens-per-BNB rate; the deployed contract cannot change it.
3. Connect an EVM wallet on BNB Smart Chain.Keep native BNB for gas. The wallet must approve and sign the actual creation transaction. A rejected signature, duplicate symbol or invalid configuration prevents deployment.
4. Check the confirmation.Use “Open your token market” after confirmation. Each created token has a shareable /launchpad/token/[address] page with buy, redeem and creator-fee claim actions. The page verifies registration with the factory and reads the token’s actual fixed rate, inventory and BNB reserve. Save the resulting address and transaction receipt. The contract holds the initial inventory. Creation does not automatically buy tokens, fund its reserve, create a DEX pool or add it to the first-edition company directory.

For an existing listed legacy market, use the reserve desk to buy or redeem. Always verify the market address and displayed rate; the ticker alone is not a contract identifier.

Explore a synthetic market draft

1. Open the market studio.Select “Paired synthetic · draft”, then choose a company from the research universe. This is separate from the default live BNB token mode.
2. Choose a candidate reserve and illustrative term.This records your intended setup. It neither purchases the candidate token nor approves it as protocol collateral.
3. Test the payoff.Move both price sliders. See how relative performance changes the allocation to UP and DOWN.
4. Save the draft.The downloaded JSON records the company, candidate address, illustrative term and formula. It explicitly states NOT_DEPLOYED; there is no transaction fee.

The directory helps you choose a subject. Your wallet creates the contract. The contract holds token inventory and the BNB reserve. The market page is the interface to that contract.

What each part is responsible for

Company directory

A dated research dataset of ticker symbols, names, sectors and reported market caps. The first edition has 150 references. Its market caps describe the underlying companies, not the value of community tokens.

Launch studio

A four-step form: company, identity, economics and review. It validates your inputs and constructs a wallet transaction. Merely filling out the form does not deploy anything.

Wallet

Holds your signing keys, pays BNB network fees and signs transactions. The platform asks an installed EVM wallet for access; it does not ask for your recovery phrase or take custody of the wallet.

Factory

Deploys a separate token contract for each accepted symbol. The current factory checks symbol uniqueness and emits a MarketCreated event containing the new address, creator, reference ticker, supply and rate.

Token and reserve contract

The same market contract implements the transferable token, holds unsold inventory, receives BNB purchases, processes redemptions and accounts for creator fees. Each market has its own inventory and reserve.

Market page

Reads the address from the URL, verifies its registration with the configured factory, and displays its actual name, fixed rate, inventory and reserve. It exposes buy, redeem and creator-fee actions through the connected wallet.

The boundary of the live product

The directory is a reference layer. The live BNB token contract does not call a broker, purchase shares, query a stock oracle or hold 4Stock collateral. The separate UP / DOWN research chapters describe another contract system with its own activation requirements.

Your configuration becomes public onchain when the deployment confirms. Review it before signing: the current market has no function to edit its name, symbol, links, supply or exchange rate after creation.

The input rate and the effective rate

The interface converts the entered BNB-per-token price into a whole-number tokens-per-BNB rate. Some input prices therefore round. The effective rate shown in Economics and Review is the rate that will be stored. For example, 0.000003 BNB per token produces an effective rate of 333,333 tokens per BNB.

Who receives the supply?

All initial token inventory belongs to the market contract. The creator receives no automatic token allocation. To obtain tokens through the market, the creator follows the same purchase flow as another buyer. Creating a contract pays network gas but does not fund its trading reserve.

Names, tickers and addresses

A company ticker and a community-token symbol have different roles. Multiple communities can reference the same company using different token symbols. Symbols are unique within the current factory, not globally across BNB. Always share the full contract address and market-page URL.

A purchase exchanges BNB for inventory at a fixed rate. A redemption returns BNB at that same rate, less a 1% creator fee. Supply and demand do not change this contract’s exchange rate.

Three balances with different meanings

• Inventory is the token balance held by the market itself. Purchases decrease it; redemptions increase it.
• Usable BNB reserve is the contract’s BNB balance minus fees already owed to the creator. The market page reads this through reserveBNB().
• Accrued creator fees are recorded separately. They grow on successful redemptions and can be claimed only by the recorded creator address.

Where the fee comes from

The fee is deducted from the redeemer’s gross BNB amount. It is not an extra token mint, a reward funded by new users, or a percentage of company profits. Claiming accrued fees transfers that already-accounted BNB to the creator. It does not authorize withdrawal of the rest of the reserve.

What this market does not do automatically

Deployment does not create a PancakeSwap pair, provide a third-party liquidity pool or make the token follow an equity price. Transfers move token balances between wallets without changing the fixed contract rate. Any separate exchange pool would have its own liquidity and pricing rules.

Gas goes to the BNB network and is separate from the 1% redemption fee. A small trade can cost more in gas than the amount it exchanges. Extremely small token amounts may round to zero BNB; review the output before signing.

1. Configure and connect

Select a reference, complete the four steps and connect your wallet. If needed, accept the wallet’s switch to BNB Smart Chain, chain ID 56. Keep native BNB for gas. No token approval is needed to pay BNB to the public factory.

2. Review the deployment

The review screen shows your identity, supply, effective rate and links. Your wallet displays the transaction. The sender becomes the token creator and the recipient of future redemption fees.

3. Submit and wait for confirmation

Signing a transaction and seeing it in a wallet is not the same as a confirmed launch. The interface waits for a receipt and reads the factory’s event to obtain the deployed contract address. If you reject the wallet request, there is no launch. A reverted transaction does not create the market and can still consume network gas.

4. Open and share your market

After confirmation, use “Open your token market”. Save the full contract address and BscScan receipt. The page URL is /launchpad/token/[contract address]. A token exists onchain independently of whether it has been added to the curated company directory.

5. Buy, transfer or redeem

A buy sends native BNB to the token contract and receives tokens. A direct redemption calls the token’s sell function; the market moves the caller’s own tokens back into its inventory, so this flow does not need a separate ERC-20 approval. The redeemed tokens move back into contract inventory. Ordinary ERC-20 transfers and transferFrom approvals remain separate token functions.

6. Claim earned fees

The recorded creator can connect that wallet and claim accrued fees from the market page. Other wallets cannot claim them. The deployed market has no interface for replacing the creator address; retain access to the creator wallet.

Follow project updates at @getnasdaq_fun. Never send a recovery phrase or private key in a support request.

Research model: the following UP / DOWN chapters describe a separate system whose synthetic launches are disabled. They do not describe the fixed-rate BNB tokens you can create today.

Three inputs with three different jobs

Reference company

The microcap whose performance you want to express. Choosing PFSA, for example, identifies a research and pricing subject; it does not put Profusa shares in the contract.

Collateral token

The asset actually held in escrow and paid out on redemption. It must be admitted with its exact chain address and transfer behavior. Both positions are exposed to its value and issuer risks.

Oracle series

The adapter and fixed series identifier that would provide the normalized microcap / actual collateral-token price ratio at the start and expiry. No such production adapter is connected today.

The registry binds those inputs. The factory would create an isolated market and its UP/DOWN token contracts for a particular term. Each market fixes its collateral, adapter, series ID and dates in its constructor.

Collateral receipt and payout rules are enforced by the market contract. Stock custody, pricing integrity and secondary trading are separate responsibilities; the ERC-20 code cannot supply them on its own.

Use comparable prices at two fixed observations. Let M₀ and M₁ be the normalized microcap prices at the start and maturity. Let B₀ and B₁ be the actual reserve-token prices at the same observations.

For one complete pair, the combined payout is one reserve unit before rounding. UP is capped at one unit when R reaches 2. If R is 1, each side receives half. A valid final zero microcap value would allocate the full unit to DOWN; a missing quote is not a zero price.

Illustrations only. Payouts are in reserve-token units. Entry prices, execution costs, gas and any external venue fees are excluded.

A payout is not your profit

If you buy one UP claim for 0.55 reserve units and it settles at 0.60, the difference is 0.05 units before costs. If the reserve token itself loses dollar value, a positive difference in token units can still be a dollar loss. UP and DOWN need not trade at 0.50 before maturity.

This is a capped relative-performance instrument, not unlimited exposure to the microcap’s standalone stock return and not a promise that its market price continuously equals the share price.

1. Admit a series and activate the factory.The operator proposes exact collateral, oracle and series settings with an evidence hash. Registry admission has a 48-hour review delay. Factory release has a separate 48-hour delay and requires at least one admitted series. Neither step is currently completed.
2. Create a dated market.After activation, any wallet could call the factory for an admitted series. The start must be at least one hour in the future; expiry must be later than the start and no more than 365 days after it. A series / start / expiry combination cannot be created twice.
3. Deposit and mint before the start.Approve the market to transfer the intended collateral amount, then call mintPairs. For every received unit, it issues an equal unit of UP and DOWN. The contract rejects deposits that receive less than the requested amount, such as transfer-tax deductions.
4. Hold, transfer or merge.Position tokens are transferable. A complete UP + DOWN pair can be burned together to reclaim its collateral before settlement, including after expiry while the market remains unresolved. Holding one side alone does not allow an early oracle-priced redemption.
5. Settle at maturity.During the 48 hours after expiry, anyone can submit the settlement transaction. The contract reads the adapter’s final start and end ratios and fixes the bounded payout. Minting has already closed. Settlement can happen only once.
6. Redeem your positions.Burn the UP and/or DOWN claims you hold and receive their calculated collateral share. The administrator does not approve each redemption. Integer payouts round down; residual dust remains in escrow.

Dates do not execute transactions automatically. A user or a funded automation service must submit settlement and redemption calls. The current release has no operating production oracle or settlement keeper.

What the contract checks

The market calls the configured adapter’s readAt(seriesId, timestamp) for its fixed start and expiry. The adapter must report both observations as final, and the starting ratio must be positive. The contract then calculates the allocation; it does not choose a convenient market price.

What the adapter must establish

The adapter must reliably identify both instruments, normalize price units and corporate actions, implement the agreed observation windows and make final values available onchain. “Final” is an adapter assertion: the core market does not independently authenticate a Nasdaq price or prove the issuer holds shares.

• Closed markets and stale data: a last trade from yesterday must not silently become a fresh maturity quote.
• Splits and reverse splits: mechanical price changes must not be treated as investment performance.
• Halts, suspensions and delistings: missing data must follow a published resolution policy. Missing and zero are different states.
• Collateral valuation: the actual token can diverge from its underlying share. Substituting a share quote changes the meaning of the ratio.
• Dividends and other distributions: price-return versus total-return treatment must be stated before admission.

Production coverage for the current ten references has not been confirmed. The local tests use a mock adapter and do not demonstrate a live external data connection. Chainlink’s equity documentation describes session and data-quality requirements; it does not establish feed coverage for this entire universe.

A funded reserve is different from a trading pool

The reserve backs the contractual maturity obligation in collateral units. A DEX pool, order book or market maker lets people buy and sell one position before maturity. You can have a funded escrow without a liquid trading venue. Deploying a factory or minting a complete pair does not create that venue.

For the ten existing BNB markets, the deployed rate is 100,000 tokens per BNB. An illustrative purchase of 0.01 BNB receives 1,000 tokens if inventory is available. Redeeming those 1,000 tokens returns 0.0099 BNB before gas. New legacy launches can choose a different valid rate.

The new paired engine has no administrator reserve-withdrawal, borrowing or upgrade function. That does not remove collateral issuer risk: freezes, transfer restrictions, token design changes and price losses can still affect usability or value. Collateral admission is therefore a substantive review, not a logo selection.

The registry and factory currently use an administrator wallet with two-step ownership transfer. They are not represented as DAO-governed or multisig-controlled. Oracle and collateral addresses are immutable within a created market, but an external token or adapter can have its own governance or upgrade mechanisms that require review.

What was verified

Deployment receipts succeeded, runtime bytecode was compared with the local build, and the owner / registry binding and disabled launch state were read onchain. The source is published and matched by Sourcify. Seven local EVM tests cover the new engine and factory gates, including collateral accounting and redemption.

Source verification and automated tests are not an independent security audit. Public activation still requires oracle integration, collateral admission, settlement-policy review and funded trading infrastructure.

The first edition contains 150 company references selected from a filtered source universe of 3,200 companies. The source snapshot is September 9, 2026.

SGRSGRXSANGRIX INC.LBGJLi Bang International Corporation Inc.UKUcommune International LtdCMNDClearmind Medicine Inc.LNKSLinkers Industries LimitedXXII22nd Century Group, IncIPWiPower Inc.DCOYDecoy Therapeutics Inc.PMAXPowell Max LimitedYHCLQR House Inc.SQFTPresidio Property Trust, Inc.PWCMPowerCompute, Inc.

How we select the first edition

1. Match the Nasdaq Trader listing directory with the Nasdaq screener.
2. Retain common shares, ordinary shares and depositary shares, with one ticker per company name.
3. Exclude funds, warrants, units, preferred shares, blank-check companies and previously deployed references.
4. Require normal listing financial status and reported market capitalization between $1m and $300m.
5. Sort by ascending market cap and take the first 150 companies.

Market cap is a dated research observation, not a live token quote. The selection does not rank short squeezes. Short interest, freely tradable float, borrow costs and corporate actions require separate current research; no verified short-float percentage is supplied for this full batch.

Directory versus deployment

These 150 references are available in the studio. The new batch contracts are prepared, not yet deployed. A user-created token gets a transaction receipt and its own market page; choosing a company from the directory alone does not create a contract.

Use these exact addresses on BNB Smart Chain, chain ID 56. Similar token names, symbols or copied contract code are not proof of an official deployment.

The registry has an exact source match in Sourcify; the factory has a source match. We do not label these as an independent audit or claim that BscScan has verified their source. No synthetic markets or UP/DOWN token addresses were generated in this release.

Legacy factory and existing tokens

The older factory is 0xC67597feB0Df66297454E633248A2C69A4fF2660. Its markets are fixed-rate BNB reference tokens. They are not migrated into the new system.

Reading the contract interfaces

registry.series(key) returns the collateral / oracle record. factory.launchesEnabled() is the current creation gate. factory.marketsLength() and allMarkets(index) identify markets actually created by that factory. In a future market, up(), down(), startsAt(), expiresAt() and settled() expose the terms and state.

Microcap reference

The company used as a research or price reference. It is not necessarily the company represented by the reserve token.

Collateral / reserve

The actual asset deposited to satisfy a market’s redemption obligation. Its token-unit balance and dollar value are different measures.

Complete pair

Equal quantities of UP and DOWN backed by the same collateral deposit.

Relative performance

The change in the microcap price divided by the change in the reserve-token price, using the agreed observations.

Oracle / adapter

The external-data connection that exposes price observations in the format expected by the contract.

Maturity / expiry

The fixed end observation for a dated market; it does not automatically submit a settlement transaction.

Settlement

The one-time action that fixes the fractions payable to UP and DOWN.

Redemption

Burning position tokens to receive their allocated collateral after settlement.

Liquidity

The ability to execute a trade against counterparties at available prices. It is separate from escrow backing.

Registry / admission

An operator-controlled record and review process for acceptable collateral, oracle and reference combinations.

Gas

The network execution fee paid in BNB. Gas funding does not purchase collateral or provide trading liquidity.

Source verification

A comparison of published source compilation with deployed code. It is not a security audit.

Primary references

• nasdaq deployed contract source bundleThe authority for this release’s actual methods, gates and payout rules.
• Four.Meme / 4Stock documentationIssuer product context; not evidence of an nasdaq partnership or admitted asset.
• Chainlink / equity data and market eventsOracle design considerations; not a claim that our ten references have connected feeds.
• FINRA / understanding short interestPosition data versus daily short-sale activity.
• Per-company Nasdaq research sourcesDated values, source links and methodology shown in the research panel.