Secondary market · Phase 4 preview

The human capital exchange.

Every covenant token has a price derived from the issuer’s income trajectory, conviction score, and market demand. This is a preview of what the secondary market will look like when tokens become tradeable.

Coming in Phase 4

Prices shown are illustrative — derived from conviction scores and funding progress. The AI pricing engine (Phase 3) will replace these with DCF-based valuations trained on real income data. Secondary trading opens once sufficient price discovery data exists.

Listed tokens

Total market cap

On-chain

0 / 0

Avg conviction

Order book preview — coming in Phase 4

Bids

$118.5025 tokens$2,962.5

$116.0040 tokens$4,640

$114.7515 tokens$1,721.25

$112.0060 tokens$6,720

$110.0080 tokens$8,800

Asks

$121.0020 tokens$2,420

$123.5035 tokens$4,322.5

$125.0010 tokens$1,250

$128.0045 tokens$5,760

$130.0055 tokens$7,150

Index products — coming in Phase 4

Preflop Founder Index

$142.30

+8.4% (30d)

Weighted basket of the top founder tokens by conviction score. Rebalanced quarterly.

Preflop Creator Index

$98.70

+12.1% (30d)

Creator economy tokens — YouTube, Substack, podcast, film. Weighted by income trajectory.

Preflop Research Index

$76.50

-2.3% (30d)

AI safety, robotics, and deep tech researchers. High optionality, longer time horizons.