The 1st DEX

1st turns vesting positions into tradable, enforceable ERC-20 tokens — with real delivery rights, onchain automation, and a native central limit order book (CLOB) for execution.

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🧨 Billions Are Locked. 1st Unlocks Them.

Early-stage token allocations are vesting for years — while the world trades around them. Funds want to rebalance. Contributors want liquidity. Traders want access.
Today, they get nothing — or go OTC, off-chain, and into legal gray zones. 1st creates liquidity with clarity:

• 📜 Legally binding delivery commitments from VCs
• 🧾 Native CLOB DEX — transparent, orderbook-based price discovery
• 🔄 Tradable ERC-20 forward contracts (MirrorTokens)
• 🔐 Onchain vault settlement, no intermediaries
• ⚖️ Commodity classification, not securities

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🧬 MirrorTokens: Enforceable, Tradable, Final

Each MirrorToken is:

• A fractional legal right to a future token delivery
• Backed by a signed Token Delivery Commitment (TDC)
• Enforceable in court under commodity forward law
• Settled automatically by smart contracts, no admin keys

They’re not derivatives, not securities, not synthetic exposure — they’re the real deal, wrapped in ERC-20 and ready to trade. → Explore MirrorToken Mechanics

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📄 What Is a TDC?

A Token Delivery Commitment is a one-sided legal contract signed by the token issuer.
It defines what gets delivered, when, and to which vault — no counterparties needed. It turns locked allocations into something real, transferable, and enforceable. → Read about the TDC Framework

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⚙️ How It Works

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🧠 Why This Matters

1st combines:

• 💸 Secondary market liquidity
• ⚖️ Regulatory clarity
• 🔂 Immutable, non-custodial design
• 📈 Price discovery for token unlocks

This isn’t a proxy or a hope.
It’s a new asset class backed by real delivery, real law, and real automation.

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TL;DR

1st is how the next wave of token markets will work:
Enforceable. Liquid. Onchain. No bullshit. → Dive into the Protocol Overview