An index fund is a list of companies and a set of weights.
Pick from twenty tokenised equities, plus pre-IPO SPVs over OpenAI, Anthropic and SpaceX via PreStocks. Tessera mints your list as one token, backed share for share in a vault anyone can read. Buyers hold a single position instead of eight. You earn a fee on every share created.
Nothing is priced by an oracle. A share is created by handing the vault the exact tokens the recipe names, and redeemed by taking them back.
- Tokens you can compose
- —
- every one a Token-2022 mint on mainnet
- Components per basket
- up to 8
- the program's own ceiling, not a plan tier
- Paying dividends on chain
- —
- through the mint's scaled-amount multiplier
- Widest gap to the listed share
- —
- premium or discount
The exchange keeps hours. Your basket does not.
A tokenised share trades every minute of every day, including the hours when the listing behind it is dark. That is where the gap between token and share opens up, and it is why Tessera shows you both prices rather than one.
The exchange calendar here is the one Pyth publishes for each listing, holidays and shortened sessions included.
New York Stock Exchange
Solana
Open
No session, no holidays, no bell
Trades and settles in about 400ms
Three steps, and none of them trust us.
- First
Write the recipe
Choose up to eight tokenised equities and a weight for each. Tessera turns the weights into an exact number of raw token units per share, at the prices on screen, and writes that recipe into a program account. It never changes again.
- Then
Create shares in kind
To mint one share you hand the vault exactly what the recipe names. To redeem one you take exactly that back. No price is consulted, so no price can be manipulated to mint a share cheaply.
- After
Hold one thing
Your basket is a Token-2022 mint like any other. It transfers, it sits in a wallet, it can be sold. Dividends on the components keep accruing to the vault, which means they keep accruing to every holder.
Deposits round up and redemptions round down, so every rounding remainder stays in the vault. The vault can therefore only ever hold more than the outstanding shares claim, never less. How the program is built
Laid so far
Every basket, read straight from the program.