Own the part you believe in. Not the whole.
A company is rarely one business. erahs splits a tokenized stock into one token per business inside it, lets each trade on its own, and lets anyone put the pieces back together. Here is how, step by step.
Waymo and Other BetsOne share of Alphabet: a single price for a bundle of very different businesses.
Deposit, split, trade, recombine
Four moves cover everything. Hover the picture to pause it, or click a step to jump to it.
You start with 1 mGOOG in your wallet.
Why the parts add up to the stock
Nobody sets the price of a partial. Traders do, and one simple loophole keeps all six honest.
Parts vs. the stock
SimulationSay traders get excited and bid the parts up. Together they now cost more than the stock itself.
Waymo and Other BetsGoogle NetworkHow trades move the price
Each partial has its own pool. Drag the slider to see how a trade of any size fills, in a deep pool and in a thin one.
- You pay
- $838
- You receive
- 903.7 partials
- Average price
- $0.9273
- Price before
- $0.8967
- You pay
- $838
- You receive
- 710.9 partials
- Average price
- $1.1787
- Price before
- $0.8967
The same $838 trade moves the thin pool about 11× as much as the deep one. Every trade nudges the pool price, and the bigger the trade compared with the pool, the further it moves. Each trade also pays a 0.30% fee, which stays in the pool.
What happens behind the scenes
Four parts, and your keys never leave your wallet. Click a box to read what it does.
erahs program. The program mints and burns partials, enforces the fee and keeps one rule at all times: the vault holds at least as many stock tokens as there are full sets of partials. Fees are capped on-chain and changes take 24 hours' notice.
What can go wrong
Plain language, before you trade.
Issuer powers
If the stock token is a regulated token, its issuer may be able to pause transfers, freeze accounts or seize balances, including the vault's. That would block redemptions no matter how the program behaves.
Recomposition
When a company restructures, the series authority can add or retire partials. Adding one means holders can't redeem until they receive it. Retired partials keep their supply but lose their claim on the vault.
Unaudited code
The program has not been audited and runs on Solana devnet with test tokens only. Don't use it with real funds.
Partials give no voting rights and no direct claim on a segment's cash flows. Their prices reflect what traders think each business is worth, bounded by the value of the whole.
Try it with test tokens
Demo mode needs no wallet. Switch to Devnet for real on-chain trades.