The CHART product whitepaper.
A concise description of the system currently being tested. This is a product specification, not a promise of Mainnet availability or investment performance.
1. A market for a recording
CHART uses MusicBrainz recording identities to connect catalogue discovery with one canonical market per recording. Album editions lead to their recording markets. Where supplied by the catalogue, ISRCs provide additional recording identifiers; names alone are not unique.
2. Market lifecycle
A first buy launches an unlaunched recording’s market. Early trading uses the configured bonding curve. At its graduation threshold, the market switches to an internal constant-product mechanism. Existing token balances continue to represent positions in the same market.
3. Token identity
Song token names and artwork identify the referenced recording. Token symbols can repeat across different recordings; mint addresses identify the actual assets. New-market metadata includes the recording identity and verified catalogue ISRCs when available. Some older beta tokens predate the metadata update.
4. Execution and custody
Users connect an external Solana wallet, review a quote and approve a transaction. CHART checks balances and simulates transactions before requesting approval. A changed quote is presented for another review. Never disclose a seed phrase or private key to CHART.
5. Economics and reserves
The 1.25% fee comprises 0.75% for CHART and 0.50% for the rightsholder reserve. Fees accumulate from trading activity. A token holder has no claim to music rights or the rightsholder reserve solely by holding the token.
Full fee explanation6. Data and current limitations
Market summaries and history come from indexed finalized DevNet activity. Catalogue and artwork coverage depend on external providers. The beta does not supply verified streaming rankings or imply that a token price forecasts listening activity. Test assets have no monetary value and rightsholder payouts are disabled.
Risks and limitations