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Sequence

What has to happen, in order

Not dates. Dependencies — each item below is blocked by the one above it, and publishing the order is more useful than publishing a timeline we would have to revise.

01

External audit

Two independent firms, sequential rather than parallel, plus a re-audit of the fixes and a funded bug bounty. The contract layer's own readiness assessment states it must not custody real funds until this is done.

02

Launch price and treasury policy

One decision, not two: the price sets capacity, the value of every allocation, and three of the four phase triggers, so it is taken alongside the market-making budget and the buyback formula.

03

MIDS listed with real depth

MIDS live against a real book with genuine two-sided liquidity, and a working price pipeline. Until this passes there is no price to convert a claim at — so it is a hard gate on everything after it.

04

Chain deployment

Provision the network, deploy the contract layer, and resolve the internal-versus-on-chain boundary before either representation exists in production.

05

Listing bond live

The token's one designed demand sink, with parameters set from evidence rather than the current placeholders.

Nothing here carries a date. A roadmap with dates on it is a forecast, and we would rather publish the order and be held to it than publish a calendar and revise it.