How Braid works.

The shared market

Braid connects a braided coin’s trading across the chains its creator picked. A buy on Base and a sell on Solana change the same market state and belong to the same price history.

You choose your preferred chain. You do not need to move to a different chain to reach a separate version of the coin’s market.

This is how a braided coin works, across two or more chains its creator picks. A creator can instead launch a Standard coin, like on a normal launchpad, with a separate market on each chain they pick, run on chain without Braid’s engine. Compare the two.

From payment to settlement

A trade starts on your chosen chain and ends with that chain’s Braid contract settling the result. Between those two moments, Braid’s engine and signers agree on the shared market’s next state.

Your payment lands

A buy pays in your chain’s own coin, which converts to dollars in the same transaction (on Arc, USDC needs no conversion). A sell sends the coin’s tokens. The chain’s Braid contract locks the payment. Watchers observe the on-chain record and send evidence to the engine.

The engine orders and prices it

Trades are ordered within each coin by when their payments land. The engine prices the next trade against that coin’s shared state. A different coin’s trades have their own order.

Signers check the result

Three of four Braid-operated signing machines must approve the result. Each machine checks the pricing and ordering again before signing.

Your chain settles it

The result is delivered to the chain’s contract. The contract verifies the signatures and applies the settlement.

Chain confirmations and delivery still take time. Fast confirmation can be reversed by a chain rollback. Read the risks.

Where the money stays

Each coin pays its sellers from its own buyers’ funds. Another coin’s money is never used to pay for its trades.

The money is held in Braid’s contracts on the participating chains. If a sale needs more money than the coin has on your chain, the available part is paid there and the rest is recorded as owed at the price the sale got.

On BNB Chain and Robinhood Chain, any unpaid amount stays owed until this coin has enough money on the selling chain. Buys on other chains do not fund that payout unless this coin’s money is transferred there. There is no guaranteed payout time, and the unpaid amount may never be paid if enough money never becomes available. Braid does not add its own money or use another coin’s money to pay sellers.

You can read more about delayed sale proceeds, returned payments and contract upgrades in the risk disclosures.

After bonding

A coin begins on Braid’s bonding curve. Once the buy that fills its curve is delivered, the coin is bonded for good and continues trading in its permanent Braid pool, with the same shared market across chains.

The standard trading fee remains the same before and after bonding. Creators can choose their fee allocation and optional launch settings. See the fees.

Checking a trade

Payments are recorded on the chains. Signed pricing results connect those payments to the shared market’s ordered history.

The verification guide explains how the ordered history, signer certificates and on-chain delivery records fit together, including corrections and unpaid remainders. These records need to agree before a trade can be treated as complete.