Sovren terms
A seller-funded Dutch auction for Stock Tokens, settled in USDG. Buyers purchase portions of one funded lot at the current scheduled price.
The auction
The seller escrows a fixed lot and chooses a starting price, floor and duration. The price declines linearly. Buyers choose their quantity and a maximum cost; token delivery and USDG payment settle atomically.
Cancellation and recovery
The seller may cancel and reclaim unsold inventory. After expiry, anyone may trigger recovery, but tokens return only to the original seller. Completed purchases remain final.
Risks and eligibility
Auction listing does not guarantee a buyer or a sale. Sellers may sell below another market price; buyers may overpay. Contract, token transfer, USDG and issuer risks remain. Stock Tokens provide economic exposure rather than ownership of underlying shares. Corporate actions may change the shares-per-token multiplier. Issuer and jurisdiction restrictions apply; review the issuer terms before trading. The contract has not received an independent audit.
Contracts and environment
Sovren is active on Robinhood Chain public testnet with no-value mock Stock Token and USDG assets. A funded lot, partial purchase and return of the remainder have been tested. Mainnet is not launched.
Testnet auction contract: 0x2f18cdcf4b9655c08168901652468f7b7162f03c