Preflop
Product preview · Illustrative · No application submitted

Direct List

For people with 5+ years of documented trajectory who want transparent price discovery for contractual long-term economic trajectory exposure. The proposed model commits a defined percentage of Total Economic Benefit in perpetuity. A future, separately approved pilot could include primary issuance and later trading. Neither is live today. The proposed primary block can never exceed 50% of issued units.

This is a private product preview, not a live intake. A future pilot would use selective, published review criteria. What follows shows why an issuer might list, what proposed policy checks could apply, and what a reviewed process would require.

Issuer consent preview

Counsel-gated

Your Trajectory would trade at a daily clearing price. Named YES/NO Milestone markets about goals you approve would trade continuously. Examples include “Reach $1M ARR by June 30” or “Qualify for a championship final this season.” The current flow is a private browser preview. It does not submit an application, list you, or authorize a real market.

Milestone charter

Proposed

Preflop will never list health or injury, relationships or family, legal matters, or any topic you have not specifically approved. Future authorship, amendment, evidence, appeal, and removal rules remain undecided.

Perpetual means ongoing

Proposed

The research model applies the selected share every year without a fixed end. At a 2% share, annual TEB of $100,000, $300,000, and $1,000,000 would model $2,000, $6,000, and $20,000 respectively. These are illustrations, not live terms or an offer.

01

Price discovery for trajectory exposure

The proposed Trajectory Unit would create a market benchmark for a defined contractual claim on long-term economic trajectory. It does not price the person, imply ownership, or confer control.

02

Aligned backers, on the record

A public network with economic interest in your ongoing success. Unlike passive followers, Direct Listing backers have skin — they win when you do. That's a different quality of relationship.

03

Primary capital without company dilution

The proposed design would sell a disclosed block of newly issued Trajectory Units for issuer proceeds while preserving equity in any individual company. At least half of issued units would remain retained and locked under a reviewed insider policy. No issuance occurs in this preview.

04

A data-driven reputation rail

A future reviewed program could use documented evidence of economic history and other relevant signals. No live qualification score or transferable credential is created by this preview.

Scorecard

0/ 7 gates met

The preview stays locked until every gate is satisfied. If one won’t apply to you, the Raise preview may be a better fit.

Stage 01

Application

Future pilot

+ detail

A future pilot could request identity and supporting documents, then apply reviewed eligibility checks. This preview submits no application.

Proposed stage, not an operating service

Stage 02

Automated screening

Proposed

+ detail

A future approved workflow could include identity, background, and sanctions screening with a documented decision.

Proposed stage, not an operating service

Stage 03

Data completeness audit

Proposed

+ detail

A future review would validate supporting documentation and reconcile relevant financial records.

Proposed stage, not an operating service

Stage 04

Human review + counsel

Proposed

+ detail

A future reviewed pilot would require human and counsel review of instrument terms, eligibility, and legal constraints.

Proposed stage, not an operating service

Stage 05

Reference price modeling

Proposed

+ detail

Proposed reference pricing remains research. Any future price would require approved per-unit semantics, financial modeling, and review.

Proposed stage, not an operating service

Stage 06

Pre-trading lockup

Proposed

+ detail

Only a separately approved real-money product could define issuance, disclosures, lockup, and market opening. None occurs in this preview.

Proposed stage, not an operating service

This preview does not publish an acceptance rate. We expect most applicants would not qualify for a future reviewed pilot.

Step 1 · You

Preview data policy →

Private profile concept

Your name

Add your profession

No live listing, market row, price, or trading activity. No application is submitted by this preview.

01

Review

A received application would enter human review, with counsel where policy requires it. Most are expected not to pass.

02

Model

A future approved program would need governed per-unit pricing and a defensible reference range. Those are not implemented here.

03

List

Only an approved pilot could proceed to issuance, lockup, and a separately authorized market opening.

Counsel-reviewedAny future listing policy and counsel triggers would require approval before intake opens.
How we decideProposed criteria and risk boundaries in the how-it-works page.
Published acceptance ratesNo public acceptance-rate claim is made until a measured pilot exists.
+What's the difference between a Direct Listing and a Covenant?
Both can fund the issuer. A Covenant is separate finite-term pre-conversion financing with a contractual allocation of reserved Trajectory Units. On an authorized conversion, the issued units join the person's one standardized perpetual class. A Direct Listing issues that class directly, sells a disclosed primary block, and has no covenant phase. See /how-it-works for the full comparison. Read more →
+Do I get money when I list?
Not today. This page is a private planning preview. A future counsel-gated pilot could model issuer proceeds from a separately approved primary process, but no auction, issuance, listing, or payment is open. Read more →
+What if I change careers after listing?
The contractual commitment follows the defined Total Economic Benefit terms across covered work and income sources. A Trajectory Unit is exposure to that contract—not ownership of the person, control over career decisions, or a stake in any single venture. Read more →
+What is TEB?
Total Economic Benefit is the comprehensive measure of income your labor produces: W-2 wages, self-employment, K-1 partnership distributions, equity sale proceeds, royalties, board and speaking fees, non-cash consideration. Full definition in the spec. Read more →
+Can I buy myself out later?
That is undecided. Buyback pricing, funding, holder treatment, hardship exits, and delisting are proposed research, not current rights. Read more →
+What if something goes wrong?
Death, incapacity, hardship, disputes, and identity withdrawal require humane rules that are still undecided and counsel-gated. The demo does not pretend those protections are live. Read more →

Related

Product truth

The honest answer set

What does a backer own?

Counsel-gated

In today’s demo, only a play-money position in a fictional market. The intended Trajectory instrument would be a defined financial right tied to specified Total Economic Benefit, never ownership of a person, control over their work, or equity in every company they build. No real instrument is offered today.

How long does it last?

Proposed

The research model treats Trajectory Units as perpetual and Milestone contracts as ending at a stated deadline. The duration and enforceability of any real instrument remain undecided pending product, operating, and legal review.

How do exit and buyback work?

Proposed

The demo permits play-money trading. A real delisting, issuer buyback, hardship exit, pricing method, and holder treatment are not settled. No unilateral real-world exit or buyback right exists today.

What happens after death or incapacity?

Proposed

The demo makes no claim against a person or estate. The humane treatment of death, incapacity, hardship, existing positions, and any continuing economics is explicitly undecided and must be resolved with counsel before a real pilot.

What becomes public?

Implemented

Current profiles and activity are fictional simulations. A future issuer would approve each public profile field and milestone before publication. Exact disclosure requirements, private verification data, correction rights, and withdrawal procedures remain counsel-gated.

Who writes and resolves Milestones?

Demo-only

Preflop supplies scripted goals and simulated evidence for fictional people in the demo. Future milestone authorship, issuer approval, evidence hierarchy, conflicts, appeals, and independent resolution authority are undecided and cannot be inferred from the demo.

What are the fees?

Proposed

The play-money ticket discloses its simulated transaction cost before confirmation. No origination or real trading fee is currently charged or offered. A real fee schedule is undecided and would require explicit terms before launch.