{
  "meta": {
    "family": "TWIN-Equities",
    "date": "26 Oct 2026",
    "iso": "2026-10-26",
    "version": "v1.1",
    "asOf": "Weekday print. QQQon as-of 26 Oct 2026 (RWA.xyz).",
    "note": "Monday. Issuer mint live. No pause published. Holders 24,250 → 24,248. Active 3,165 → 3,058. NAV $708 → $709. Basis is the blade. DEX up is not the rail.",
    "homeCondition": "Watch → issuer mint live. QQQon active 3,165 → 3,058. Basis still path."
  },
  "instruments": [
    {
      "id": "qqqon",
      "ticker": "QQQon",
      "name": "QQQon",
      "klass": "QQQon",
      "twin": "Listed Invesco QQQ Trust. Cash print is the blade.",
      "title": "Token = receipt against the wrapper. Not the ETF share. Not a shareholder.",
      "cash": "USDC via the Ondo issuer mint.",
      "clock": "Issuer mint. RWA.xyz stamps Instant. Published as 24/5 on the asset page. A 24/7 claim is not the weekend word until it is stamped as the primary.",
      "exit": "Primary is the Ondo issuer mint. Do not list a DEX, a CEX, or a secondary book as the exit.",
      "redemption": "Open",
      "redemptionNote": "Issuer mint live this session. Instant on the published rail. No pause published. A DEX being up is not the state.",
      "pledge": "Not scored. No published pledge window on this stamp.",
      "crowd": "Looked-up. 24,248 public holders on $34m (24,250 on 25 Oct). 3,058 addresses active in 30 days (3,165 on 25 Oct). Two names off. Not a short register.",
      "basis": "Path. Token NAV $709 ($708 on 25 Oct). No live cash-QQQ spread stamped. The blade moved. The spread is not on the page.",
      "line": "cash: USDC · exit: issuer mint · crowd: looked-up · basis: path",
      "status": "watch",
      "changed": [
        "Clock",
        "Exit",
        "Redemption",
        "Crowd",
        "Basis"
      ],
      "statusNote": "Watch → rail conducts. Basis is the blade. Crowd is not the weak channel.",
      "public": {
        "value": "$34m",
        "holders": "24,248",
        "active30d": "3,058",
        "source": "RWA.xyz as of 26 Oct 2026"
      }
    }
  ]
}