FAQ
Is FLOOR approved by the SEC?
No, and we may not say or imply that it is. FLOOR operates under the SEC's Innovation Exemption, Release No. 34-106402 of 2026-09-17, which lets a Tokenized Securities Venue trade tokenized NMS stock through AMM pools for five years if it meets the order's conditions. The exemption is not a registration, approval or endorsement.
Which stocks can trade here?
Only tokenized NMS stock that carries the full rights of the share: dividends, votes and the residual claim, with issuer communications passed through. On Solana today that is Forward Industries (FWDI) and Galaxy Digital (GLXY), both issued through Superstate's Opening Bell. Price-tracking certificates such as xStocks do not qualify and are not listed.
Why do I need two allowlists?
The issuer's transfer agent decides who may hold the share token at all (every account is frozen by default and only allowlisted ones are thawed); the venue's participant registry decides who may trade or provide liquidity here. The order asks for permissioned access; the issuer's freeze gate is the issuer's own choice. Both are checked on every transfer.
What happens when Nasdaq halts a stock?
Keepers post the halt into the halt feed program; when their votes reach the threshold the symbol's state flips and a HaltChanged event goes out. Every swap after that fails with Halted until a resume is applied. The landing page shows the live Nasdaq halt feed next to the board so anyone can check.
How big is the monthly cap, really?
Small. A Tier 1 stock may trade 0.25 percent of its prior-month consolidated average daily volume per month on the venue. For FWDI that is 5,684 shares for October 2026; for GLXY, 12,128. The board shows the number and the slider on the landing page runs the rule.
What is the price based on?
The pool's reserves, constant product, with the fee taken from the input. There is no NBBO and no oracle in the price. The two keeper feeds carry halts and ADV, nothing else. This is disclosed as the pricing model.
Can the venue lend, margin or borrow?
No. The programs contain no such instruction, and the order forbids it.
Is there a token?
No venue token, no buyback, no burn. A securities venue earns a fee on volume; that is the whole economic model.
Who can pause or upgrade?
The venue authority can pause the venue or a pool, the caps authority can pause a symbol, and the upgrade authority can upgrade the programs. All three are published on the disclosures page, as the order requires. No key is burned.
When does trading open?
When the operator, a US entity, has published its 30-day notice and the programs are on mainnet. Until then the app runs in preview on mainnet data and every transaction button reads "Opens at launch".
Why Solana?
The design came from Solana (Project Open), the qualifying shares are on Solana, and most 2026 tokenized-equity volume is on Solana. No Solana venue had filed under the order when FLOOR was built; the NYSE owner's joint venture with OKX filed on its own chain.