How Prelude
works.
Everything a careful buyer checks before they buy, on one page. No marketing. Numbers come from the contracts and the API, not from a person.
Markets
A market is a coin priced in a real company token on Robinhood Chain. The creator picks the quote token, a name, a ticker and a fee of 1%, 2% or 3%. A bonding curve sets the price: every buy moves it up, every sell moves it down. Supply is 1 billion, fixed. 800 million sell on the curve and 200 million are reserved for the liquidity pool at graduation. There is no dev allocation and no presale on any market.
Only companies with a real token on Robinhood Chain can be used as a quote asset: 1x long pre-IPO exposure tokens from Long.xyz for OpenAI and Anthropic, and Robinhood-issued stock tokens for public companies. If a company has no such token, it can't be picked.
Fee split
Every trade pays the market's fee in the quote asset. It is split the moment the trade lands and can't be changed after launch.
| Share | Goes to | When |
|---|---|---|
| 50% | Market creator | Same block as the trade |
| 25% | Holders of that market | Accrues per token, claim any time |
| 15% | Platform token buyback and burn | Batched, on-chain |
| 10% | Protocol | Same block as the trade |
The 10% protocol share is Prelude's revenue. It pays for infrastructure, gas for buybacks and deployments, and the people building the protocol. It goes to a single public wallet set at deploy.
Graduation
Each quote token has a graduation target equal to 6% of that token's market depth, so a market quoted in a deep token needs to raise more than one quoted in a thin token. When a market raises that amount, the curve closes, the raised quote and the 200M reserved tokens go into a pool, and the pool position is burned. From then on the market trades freely and nobody, including Prelude, can pull liquidity.
Anti-snipe: during the first 10 blocks of a market, no wallet can hold more than 2% of the curve supply.
Contracts
| Contract | Address | Status |
|---|
Addresses appear here the moment they're verified on the block explorer. Until then the field is blank rather than a placeholder. Source: PreludeFactory creates one PreludeCurve per market with an immutable fee; PreludeToken is transfer-locked until graduation; VaultGraduator locks the raised quote at graduation.
Platform token
The protocol token has no team allocation and no presale. The only way it gets bought by the protocol is the 15% buyback slice of trade fees, which buys it on the open market and burns it. It launches after the first markets graduate, not before. Supply, distribution and the contract address are published here at launch, and the buyback total on the homepage is read from the same fee ledger.
Status
What's running now versus what's still being built. This mirrors the Transparency board on the homepage.
Risks
New markets are thin. Prices can go to zero. Quote tokens are issued by third parties (Long.xyz for pre-IPO names, Robinhood for stock tokens) and carry their own risk. Until contracts are live, trades settle through the Prelude API and are recorded, not on-chain. Prelude is not affiliated with or endorsed by Robinhood. Nothing on this site is investment advice.