Brokers

Real IPOs are placed by underwriters who put capital at risk and are paid for it. IMOs work the same way. Brokers design each launch, compete for it with their prospectuses, and are the offeror of record for the memestock they launch.

Becoming a broker

A broker leads a brokerage and needs ₸USD staked in Turbo staking to do it ($500 by default). There is no application and no approval: the stake is the requirement. Only brokers can file a prospectus.

Profile

A broker has a public page: name, logo, X and Telegram, ₸USD staked, members, and the memestocks it has launched with the fees they keep earning. Reputation is built in the open, launch after launch.

One brokerage, many wallets

A brokerage is an entity with a name and a logo, founded by one wallet, its leader. It can stay a single wallet or grow into a team: a user enters the brokerage on their own profile, the leader accepts, and the user appears as a member. Several people working together are one brokerage, with one name and one track record. The brokerage's share of the fee is split among all its members. The most famous IMOs will be fought for by teams, like the banks behind a real IPO.

Filing and winning an IMO

1. When the clock unlocks an IMO, any broker can file one prospectus while it is open, until its final hours. The prospectus sets the share of the supply on sale, a minimum and a maximum market cap, the opening premium, the fee and where it goes, the strategic holdings and the broker's own purchase.
2. Filing pays for the broker's own purchase on the spot, at the same price backers will pay: 5% of the supply with the minimum unlock (a 30-day cliff, then at least 12 months), rising to 10% with a 24-month unlock. It is guaranteed and never scaled down. The broker can also commit an amount for the burn vault, bought in the market's opening purchase.
3. Backers deposit into the prospectus they prefer, and the most backed wins. Brokers compete on the best offer, not on speed.
4. If a prospectus loses, or the soft cap is missed, everything the broker put in is refunded to the wallet that paid. How an IMO works↗︎

What a broker earns

• The brokerage's share of every trade of the memestocks it launched (0.25% in our example, set in the prospectus), for as long as they trade, split among its members.
• The allocation, bought at the IMO price, below where the market opens, and unlocked last.
• Reputation for the next one. Every launch stays onchain with the brokerage's name, and a good record wins the backing of the next IMOs.

A broker cannot launch and leave: its tokens unlock last. Its upside is the memestock doing well for months and years.