Buy the shares
The vehicle acquires the listed micro-cap through a prime broker.
Off-chain
Tokenised penny stocks · Robinhood Chain
Buy the share.
Open the box.
Launch the meme.
Schrödinger takes exchange-listed micro-caps on-chain: one real share, one token, backed one for one in custody. Every ticker then becomes a quote asset, so the next meme prices in a stock instead of a stablecoin.
TOON
Mint ticket
TOONx
Kartoon Studios · NYSE American
DepositUSDG
Settled atthe observed share price
You receive1 token per share
Backed1:1 in custody
One token is one share. If the share doubles, your tokens double. Nothing rebases, ever.
The apparatus
From a share on the exchange to a ticker on the floor
A regulated vehicle buys the real shares through the broker and parks them, fully paid, at a custodian. The custodian observes the settled count and posts it on-chain. Only then can the controller mint. The launchpad never touches a share, it only quotes against one.
Custody and observe
Held fully paid at the custodian. The settled count is posted on-chain.
Observation
Collapse to a token
One token per share, capped by the observation. Never unbacked.
TICKERx
Pair the meme
The ticker becomes a quote asset. Launch a bonding curve priced in it.
Meme / TICKERx
Exit any time
Sell TICKERx into its pool. Only the market maker mints and redeems.
Exit
How the peg holds
One token is one share. Not one dollar.
Balances never rebase. The token tracks a share, so when the stock runs, the token runs with it. If the on-chain price drifts, mint and redeem arbitrage pulls it back, the same way an ETF creation basket does. Reverse splits, which micro-caps do constantly, ride a multiplier rather than a burn.
Backing unit
1 share
Rebase
Never
Peg mechanism
Mint / redeem arb
Corporate actions
Multiplier
The backing invariant
Checked at every mint
supply × multiplier / 1e18
≤ observed shares in custody
Coverage
Enforced on-chain
A mint that would push supply past the observed shares reverts. A redemption invalidates the observation it consumed, so a share that has been sold can never back a later mint.
The floor
Every ticker is a quote asset
The box is open.
Tokenise a listed micro-cap, one share to one token, and pair it to whatever comes next.