Protocol
Tokens stay. Claims rest on them.
A holder mounts Stock Tokens once. Protocols do not take custody. They place prongs: capped, conditional claims with an on-chain trigger, an expiry and a seniority rank. Scroll to follow one vault.
A prong's life, step by step
- 01
The stone sits still
100 shares of a Stock Token, mounted once in the holder's vault. Nothing is claimed.
Lender · 40 shares · seniority 1
Options desk · 20 shares · seniority 2
held 100 · pledged 60 · free 40
Trigger proven · 40 seized
held 60 · pledged 20 · free 40
Feed frozen · all prongs frozen
Lifecycle
Four calls. One vault.
- 01 · mount()
Mount
The holder deposits Stock Tokens into their own Bezel vault. One vault per wallet. The vault is non-custodial.
- 02 · placeProng()
Place a prong
A protocol with staked $BZL places a prong: claim N, trigger, expiry, seniority. The contract rejects it if the cap would be exceeded or the combination is incompatible.
- 03 · proveTrigger()
Prove the trigger
The protocol submits on-chain proof of its trigger during market hours. The prong executes and takes exactly its claim. Everything else stays.
- 04 · release()
Release or expire
The protocol releases the prong, or it lapses at expiry. The claimed tokens return to the free balance.
Prong kinds
Collateral stacks. A sale happens once.
A share can be lent and covered by a call, never sold twice. Collateral prongs stack freely under the cap. Only one sale prong can be open per asset in a vault.
collateral
Lender
Example lending market
Trigger: Loan default proven: health factor below 1.0 at a Chainlink round
sale
Options desk
Example covered-call desk
Trigger: Call exercised: Chainlink price at expiry above strike
sale
Club
Example investment club
Trigger: Club sale vote executed on-chain
| Existing ↓ / New → | Lendercollateral | Options desksale | Clubsale |
|---|---|---|---|
| Lendercollateral | Allowed | Allowed | Allowed |
| Options desksale | Allowed | Rejected: A second Options desk prong would put two sale prongs on one asset. A share can be lent and covered by a call, never sold twice. | Rejected: Options desk with Club would put two sale prongs on one asset. A share can be lent and covered by a call, never sold twice. |
| Clubsale | Allowed | Rejected: Club with Options desk would put two sale prongs on one asset. A share can be lent and covered by a call, never sold twice. | Rejected: A second Club prong would put two sale prongs on one asset. A share can be lent and covered by a call, never sold twice. |
Guarantees
What the contract enforces.
- Capped
- The sum of all prong claims can never exceed the tokens held in the vault.
- Compatible
- Incompatible prong combinations are rejected by the contract. A share can be lent and covered by a call, never sold twice.
- Yours
- The holder keeps dividends, corporate actions and free transfer of the unencumbered remainder.
- Proven
- A prong executes only with on-chain proof of its trigger, during market hours.
- Frozen when blind
- If the issuer pauses the token or the Chainlink feed is frozen, all prongs on that asset freeze and nothing can be seized.
- Ordered
- Prongs are settled by seniority.
- Paid by protocols
- The prong fee is 0.05% of pledged notional per 30 days, paid by the protocol placing the prong. The holder pays no prong fee.