Part IV · Proposal
Chapter Note
Note to VASP counterparties
A short introduction for licensed virtual-asset firms
A brief cold-outreach note for firms that already hold a VASP and run OTC, market making, or issuer-adjacent books.
Hello — we are writing because you already hold a VASP. That is the whole reason for the note.
The FloatNet index publisher, a ConfigSecretAI subsidiary (in formation), publishes a full-distribution volatility state and licenses mechanical prints of it for settlement. The object is simple: a versioned I_t a product can settle to without our owning an exchange. Settleable lines: F2 (mark, live), P3 (first money, February 2027), then P4 / P6 / P7. P1a / P1b / P2 / P5 are desk only. A quorum of identified nodes bonded in dollars. Settlement in USD. The commercial rows live in Business Plan v0.20, in the board pack.
A VASP that already quotes institutions, makes markets, or sits next to issuers is the counterpart that print needs. Not a new venue. A newly licensed VASP that already quotes is not a new customer. It is a book that already needs a number.
The first hour is small. Paper our hourly Read against the OTC book you already run. Hyperliquid is the tape we study; a perpetual on that book funds its mark to the signed F2 freeze of the public print. Your other books can follow if that hour is useful. There is a first product in February if incubation is more interesting than quoting: tail masses on a prediction-market / event-contract surface. Venue class TBD. Counsel first. There is a signer seat if you want one. None of that has to be decided in the first conversation.
23 November is the integrity scoreboard: five unrelated named firms live, plus counsel’s pre-deployment opinion. Listed-open does not wait on a full house to be the architecture. If it misses: architecture unchanged; F2 remains a funding mark; do not fill seats with a DFY incentive. The second tranche does not draw.
Chapter XI points at the plan of record — Business Plan v0.20, adopted 11 September 2026 — without restating the raise. This note is only the introduction. If someone on the desk has time this month, we will walk the Read and leave the rest. Glad to have found you on the licensed side of the street.