How Pretex works
- 01
Proof gate
An asset is listed only while its reserves are signed, anchored on Base and at least 100% of supply. The gate is re-checked on every quote, not once at listing.
- 02
Observable NAV
Class A assets have a market price someone else sets: spot metal, treasuries. Pretex reads the issuer's NAV and refuses to quote on a price older than five minutes.
- 03
Band, not book
There is no order book to thin out or spoof. You buy at NAV plus a published band and sell at NAV minus it, against the issuer's inventory.
- 04
Firm quote, on-chain settlement
A quote is a signed ticket valid for 90 seconds. You send USDC (or the token) from your own wallet; the venue verifies the transfer on-chain and pays the other leg.
Today the only listed issuer is Auxite (gold, silver, platinum, palladium). Its proof of reserves is self-attested by the issuer; an independent attestation is pending and is shown as such on every market.