Priced in a bundle
Building a basket of stocks at launch and pricing a coin in it, and how a unit is always worth what it holds.
A coin can be priced in a bundle: a fixed basket of two to five tokenized stocks, defined by whoever launches the coin, in the same form and the same minute.
There is no directory of bundles to browse and no way to pick one somebody else made. A bundle is built for one coin and belongs to it.
What a unit is
One unit of a bundle holds an exact quantity of each stock in it, decided at creation and never changed. A bundle of a tenth of an Apple and one Sony is always exactly that.
That fixed recipe is the whole mechanism. A unit can be taken apart at any time into the stocks it holds, and put together again from them, by anyone holding either side. Because of that, a unit cannot drift far from what it holds: if it were cheaper, you would buy it and pull it apart; if it were dearer, you would assemble one.
Taking a unit apart ignores the clock
Minting and redeeming units are not trades, so they do not wait for a bell. Only buying and selling the coin does. This matters: it means a bundle holder is never trapped by a closed market, even while the coin priced in that bundle cannot move.
What it is priced at
The program prices a bundle from the figures it already holds for each stock in it. A unit is worth the sum of its parts, and the curve for the coin is denominated in whole units.
The hours
A bundle has no exchange of its own, and its stocks may be listed on several. So, as with SOL and USDC, you choose which exchange's calendar the coin keeps, and the coin shuts when that exchange shuts. The bundle itself keeps no hours at all.
Why bother
A coin priced in one stock is a bet on the coin against that stock. A coin priced in a bundle is a bet against a basket, which moves less than any single name in it. It is also the only way here to express something with no single listing behind it: a coin priced against three markets at once, that trades on the hours of whichever one you picked.
A bundle is only as good as its parts
Every warning about tokenized stocks applies to each stock in a bundle, and a bundle concentrates them rather than diluting them. If one issuer freezes one of the holdings, units holding it cannot be taken apart until that is resolved.
Limits
Between two and five stocks, each appearing once, with the amount of each fixed at creation. Bundle symbols are yours to choose and are not checked against anything.