Grail publishes one number nobody else will: what you can actually buy.

Grail is a marketplace for tokenized real-world assets that prints, beside every listing, the size you can actually buy before the price moves. Every venue publishes price. Grail publishes depth at size.

• ›Executable size printed beside every headline number
• ›Three-state stamp — Open, Thin, Watch-only — computed from probe output and nothing else
• ›A public scoreboard grading our own quotes against realised fills
• ›Non-custodial from the first click: you sign from your own wallet, Grail never holds funds
• ›Robinhood Chain (EVM, chainId 4663) first; per-chain route sets later

Six stages, every one of them printed on the listing page.

• ›Index — contract, supply, decimals and pool set read directly from chain
• ›Route — every venue that can fill the pair, including multi-hop paths, ranked
• ›Probe — for $100 / $500 / $2k / $10k / $50k the fill is simulated; output, impact and route recorded
• ›Curve — the five points become a fill curve; its knee is the max clean size
• ›Stamp — max clean size, freshness and route count decide the stamp
• ›Publish — stamp, curve, block height and route on the page, all four, always

Why the probe runs at the execution block

A quote taken now and a fill landed three blocks later are different trades. Every probe records the block height it simulated at; every published curve carries it. A probe older than its freshness window is not shown as stale — it is not shown at all, and re-runs on demand. After the trade, the realised fill is compared to the quoted curve and the delta is logged publicly.

Open

Max clean size ≥ $1,000 at ≤ 2% impact, probe ≤ 15 minutes old, at least one route with non-trivial reserves.

Thin

A route exists but the knee sits under $1,000, or the only route is a single pool under $25k of quote reserves.

Watch-only

No executable route from a self-custodied wallet at any size — redemption-only, permissioned, or simply unlisted.

There is deliberately no fourth state. No “coming soon”, no issuer-supplied status. The stamp is a pure function of the probe. If an issuer disagrees, they are pointed at the published methodology and the exact probe — block height, route set, reserves read, output. If the probe is wrong we fix it and say so publicly. If the probe is right, the only way to change the stamp is to add liquidity.

On a constant-product route, buying x of quote into a pool holding Q of quote reserves moves the price by roughly x ÷ Q. That ratio is the price impact. The largest order that stays at or under the 2% cap is therefore 0.02 × Q — the clean size.

impact(x)   = x / Q
clean_size  = 0.02 × Q
units_out   = B · x / (Q + x)      where B = Q / spot_price

Multi-hop and exotic venues are simulated instead of solved in closed form; the ladder stays five points and the knee is interpolated between the two bracketing points. Fees are disclosed on the confirmation screen and are not hidden inside the curve.

Free (hold 0)

Full catalogue and every stamp · probe up to $500 · 20 API queries a day · share cards

Bronze (10,000)

Probe up to $10,000 · 200 API queries a day · 10 watchlist alerts

Silver (100,000)

Unlimited probe size · 2,000 API queries a day · unlimited alerts + split-order planner · routing fee 0.225%

Gold (1,000,000)

25,000 API queries a day · full scoreboard export · methodology change notice before publication

What the token may never do

• ›Buy or change a stamp
• ›Rank a listing higher
• ›Vote on methodology by balance — changes are argued in public, never decided by the largest holder
• ›Be required to read the catalogue
• ›Represent a claim on revenue, assets or the treasury

Fee relief is capped at 25% (0.30% → 0.225%). Deeper discounts invert the model: the heaviest users would pay the least while consuming the most probe compute.

• ›Routing fee — 0.30% of notional on every swap executed through Grail, on top of the underlying aggregator's take, disclosed before signing
• ›Pro access — $29 per month, or hold 100,000 $GRAIL and pay nothing
• ›Query API — per-call pricing above the free tier
• ›Launch fees — one-time, routed to treasury for the first six months of probe compute

Not for sale

• ›Listing placement
• ›Stamp upgrades
• ›“Verified issuer” badges
• ›Order flow — routes rank on fill quality and the inputs are published
• ›User data — no custody, no brokering of who probed what

Supply

1,000,000,000 $GRAIL

Distribution

100% fair launch, no team allocation

Presale / private round

None

Liquidity

Burned at launch, verifiable on-chain

Mint function

None

Team holdings

Bought on the open market; wallets published before buying

Chain

Robinhood Chain, chainId 4663

Status

Live · 0xb902ec380bafc472bb07010ff90b09d7d6df67af

Supply only moves one direction. Weekly burns come from the buyback share; API overage settled in $GRAIL burns in full. Burn totals are read from chain, never from an internal counter.

The stamp function is one implementation, versioned, with the version stamped onto every result it emits. Methodology changes are published before they take effect, with the list of stamps that moved because of them.

For every swap routed through Grail the quoted impact and the realised impact become one signed delta in basis points, aggregated per asset, per venue and per size band, and rendered publicly. Positive delta means the fill was worse than quoted. Negative deltas are shown with the same prominence. The board starts empty on launch day and stays public from the first fill.

GET /api/v1/assets                    list with current stamp, filterable by state
GET /api/v1/assets/{address}          full record: headline, stamp, latest curve, issuer
GET /api/v1/probe?address=&size=      on-demand probe: output, impact, route, block
GET /api/v1/curve/{address}           the five-point ladder plus the interpolated knee
GET /api/v1/stamp/{address}           the stamp alone, for embedding
GET /api/v1/scoreboard                realised vs quoted deltas, per asset, per window

Every response carries engine_version, stamp_version and the block height it was computed at. Free tier: 20 queries a day, sizes capped at $500. Paid endpoints fail closed: an unauthenticated call returns 401, never a degraded free result.

01 · The probe (weeks 1–3)

Route planner, ladder probe, stamp v1, ~20 assets — in progress

02 · The front door (weeks 3–5)

Calculator, share card, markets table, public methodology

03 · Execution (weeks 5–8)

Swap from self-custody, fee collection, grader and scoreboard live

04 · The token (weeks 8–10)

Fair launch, liquidity burned, tiers live, first buyback

05 · The catalogue (months 3–6)

Issuer dossiers, attestation freshness, query API, split-order planner

06 · Beyond one chain (months 6–12)

Per-chain route sets, cross-venue comparison, embeddable stamp

Is the calculator live data?

Not yet. Before launch every listing on the site is a labelled sample with illustrative prices and pool sizes, dated on the card. The maths is the real maths; the inputs are not real yet.

Can an issuer pay to get an Open stamp?

No. Not with money, not with the token, not with a partnership. The only way to change a stamp is to change the liquidity the probe reads.

Does Grail hold my funds?

Never. There is no deposit address. You sign from your own wallet; Grail routes the order and publishes the measurement.

Why is most of the catalogue grey at launch?

Because most tokenized assets are not purchasable from a self-custodied wallet at any real size, and Grail says so instead of pretending. Grail is not a shop pretending everything is in stock. It is the only place that tells you what is.

Where does the contract address appear?

On the home page, in the contract box directly under the calculator: 0xb902ec380bafc472bb07010ff90b09d7d6df67af on Robinhood Chain only. Check it there before you buy, every time. Grail will never DM you first or ask for a seed phrase.