# GM Markets — Full documentation > Permissionless trading for tokenized stocks and ETFs. This file is the concatenation of every documentation page on https://gm.markets/docs, served as plain text for AI agent ingestion. Source of truth: https://gm.markets/docs Short index: https://gm.markets/llms.txt --- # Overview ## Overview Source: https://gm.markets/docs What GM Markets is, who it is for, and the model that holds it together. GM Markets is a permissionless trading app for tokenized stocks and ETFs. Each asset is an on-chain token backed 1:1 by a real share held in custody at a regulated US broker-dealer such as Alpaca Markets or Interactive Brokers. The token tracks the price, dividends, and corporate actions of the underlying share, lives in your own wallet, and is composable across the broader DeFi ecosystem. ## Who it is for GM Markets is for anyone with a wallet and an internet connection who wants to trade US stocks, ETFs, commodities, FX, and other assets on-chain. That includes people without access to a US brokerage, sophisticated on-chain users who want to borrow against a tokenized portfolio, and AI agents trading on behalf of their owners. ## How a trade actually happens You sign in with Privy — Apple, Google, email, passkey, or an external wallet — and an embedded wallet is provisioned automatically. You add money with Apple Pay, card, bank transfer, or by receiving USDC from any external wallet. When you tap Buy, a regulated tokenized security issuer returns a live quote; you have a short window to accept; the trade settles back-to-back against the underlying market. The on-chain token lands in your wallet. ## The product surface - Markets — your watchlist, holdings, and discovery surfaces (trending, top movers, sectors) - Asset detail — chart, fundamentals, news, and a sticky Buy/Sell bar for every stock and ETF - Portfolio — holdings, orders, transactions, and P&L - Account — security, notifications, recovery, and key management Three primary destinations, two primary actions on any asset (Buy / Sell), one persistent money affordance (the balance pill). Read the rest of these docs to understand any single piece in depth. ## What makes this different - Permissionless by default — onboard with a wallet, Google, email, passkey, or Apple; jurisdictional gating happens silently per region - No separate gas line — network gas is bundled into the quoted price alongside the trading fee, so there is one number to accept and nothing to reconcile on a receipt - Composability — every token works with Aave, Morpho, Uniswap, Curve, and any other on-chain venue - Custody-backed — every token is 1:1 backed by a real share in segregated customer accounts at a regulated broker-dealer --- # Getting started ## Connect a wallet Source: https://gm.markets/docs/connect-a-wallet Five sign-in methods. Two taps to a working account with an embedded wallet provisioned for you. GM Markets uses Privy (https://privy.io) for authentication and wallet management. You pick how you want to sign in and an embedded wallet is provisioned automatically — there is no seed phrase to write down and no password to remember. ## The five sign-in methods - Continue with Apple — opens the native Apple OAuth sheet on iOS / macOS Safari - Continue with Google — opens the Google OAuth popup - Email magic link — type your email; a one-tap link arrives within ~5 seconds - Sign in with passkey — uses an existing WebAuthn passkey on this device - Connect external wallet — opens the WalletConnect picker for MetaMask, Phantom, Coinbase Wallet, and others ## What happens after you sign in Privy provisions an embedded wallet in about 500ms using multi-party computation, meaning no single party — including GM Markets — holds your complete private key. Your wallet address is shown on your Account page; you can copy it, view it on an explorer, or export the key from Security at any time. If you signed in with an external wallet, that wallet is linked as your authentication method and you use it the same way you would on any other app. Your assets remain in the wallet you already control. ## Next step Connecting a wallet does not move money. To buy anything, you need a balance — see Add funds (/docs/add-funds). --- ## Add funds Source: https://gm.markets/docs/add-funds Apple Pay, Google Pay, card, bank, or receive USDC from any wallet on any supported chain. Funds management is one sheet, triggered by the persistent balance pill at the top of every screen. Tap the pill to open three tabs: Add, Withdraw, and Activity. ## Methods available The funding sheet ranks methods by speed for your specific situation and only shows methods that work on your current device. | Method | Available on | |---|---| | Apple Pay | iOS Safari, iPad Safari, Mac Safari | | Google Pay | Android browsers and the Android app | | Saved card | Any platform after first use | | Bank transfer (ACH / SEPA via on-ramp partner) | Any platform | | Receive crypto (your address + QR) | Any platform | | Connect external wallet (MetaMask / Phantom / Coinbase Wallet) | Any platform | For most iOS users, Apple Pay shows at the top with a one-tap Continue · $100 Apple Pay CTA. For most Android users, Google Pay shows at the top. ## What you receive When you add funds, the equivalent in USDF lands in your wallet. USDF is a unified stablecoin balance backed 1:1 by USDC and USDT — you hold one currency, never need a native chain token to pay gas, and never see a separate gas line on a receipt (network gas is bundled into the trade quote). See USDF stablecoin (/docs/usdf-stablecoin) for the full mechanics. ## Fees - All deposits are free across every rail - No daily, weekly, or per-transaction ceiling on deposits, withdrawals, transfers, or trades - Gas is always sponsored — you never pay a network fee on a deposit, trade, or transfer ## Next step Once funds arrive, the balance pill animates to your new value. You are ready to place your first trade (/docs/first-trade). --- ## Your first trade Source: https://gm.markets/docs/first-trade Pick an asset, tap Buy, confirm with a biometric. Receipt appears in the same sheet. The fastest path to a first trade is from your watchlist or the Markets discovery surface. Tap any row to open Asset detail; tap Buy in the sticky bottom bar. ## What you see in the trade sheet - Market | Limit segmented control — defaults to Market - Amount input — prefilled with $100 on your first trade - Slippage tolerance pill — default 0.5%, editable to 0.1% / 0.5% / 1% / custom - Live quote — refreshes every ~2 seconds: Quote: $228.50 · valid 8s - Fee breakdown — platform fee 0.10%–0.20% based on your VIP tier, plus network gas; both bundled into the quoted price - Available balance pill — recalculates as price moves - Take Profit and Stop Loss — optional checkboxes; see Quick Trade (/docs/quick-trade) for the full mechanics ## What happens when you tap Confirm 1. The order routes to a regulated tokenized security issuer via RFQ 2. Within ~1 second, you see the receipt: action, fill price, fee, total, and the on-chain transaction hash If the market is open, the order fills immediately. If the market is closed, the order is queued and executes automatically at the next market open — you receive a push notification when it fills. See Trading hours (/docs/trading-hours) for the rules. ## Trade size There is no value-based confirmation step. Trades of any size — $1 or $1,000,000 — use the same biometric-only flow. No email prompts tied to trade amount, no minimum, no maximum imposed by the platform. ## Next step Once the receipt closes, your holdings are updated and the asset appears in your Portfolio. To sell or withdraw what you have made, see Sell and withdraw (/docs/sell-and-withdraw). --- ## Sell and withdraw Source: https://gm.markets/docs/sell-and-withdraw Sell from holdings with a swipe. Withdraw to a bank account or external wallet from the balance pill. Selling and withdrawing are two separate actions. Selling converts a holding back into USDF; withdrawing moves USDF out of your account to a bank or external wallet. ## Selling The fastest way to sell is from the Portfolio holdings tab: click on any row to open the trade sheet pre-set to Sell, with a one-tap Max button to exit your full position. The Sell UI is always fully interactive, even at zero balance — only the Confirm button is gated, with subtle helper text. You never see a blocking error mid-flow. Sell follows the same RFQ flow as Buy: live quote, slippage tolerance, biometric confirm, receipt with fill price and fee. Sells during market hours fill immediately; sells outside market hours are queued for next open. ## Withdrawing Tap the balance pill, switch to the Withdraw tab. Enter the amount (or tap Withdraw all), then choose a destination: a saved address from the dropdown, or paste a new address. Destination addresses are validated live against the chain you select. - Withdrawing to an external wallet completes in seconds once the network confirms the transfer - Withdrawing to a bank account routes through an off-ramp partner; arrival time depends on the rail (ACH typically 1–2 business days, SEPA same-day or next-day) - No platform-imposed ceiling and no value-based confirmation prompt at any amount The first time you withdraw to a new destination, a banner asks you to double-check the address before continuing. Once confirmed, the address is saved for future one-tap withdrawals. ## What is always free Deposits, withdrawals, and send are free across every rail. The only fee you ever pay is the trading fee (0.10% to 0.20% based on your VIP tier) plus gas fees, and it is included in the quoted price you see in the trade sheet. ## Tax records GM Markets does not file taxes on your behalf. From Portfolio, you can export a complete CSV of every trade and transaction to share with your tax advisor or import into your preferred tax software. Because dividends and corporate actions are reflected in the on-chain NAV rather than as separate cash distributions, the dividend itself is generally not a taxable event in most jurisdictions — taxable events typically only trigger when you realize a position through a sale or transfer. Consult a qualified tax advisor for guidance specific to your situation. --- # How it works ## Tokenized stocks Source: https://gm.markets/docs/tokenized-stocks How a tokenized stock works, what it tracks, and where it differs from a brokerage account. A tokenized stock on GM Markets is an on-chain token that represents one share of a real stock, backed 1:1 by an actual share held in custody at a regulated broker-dealer. The token tracks the price of the underlying share in real time and absorbs every dividend and corporate action into its on-chain NAV. Because it lives in your wallet as a standard on-chain token, you can hold it, send it, trade it, lend it, borrow against it, or use it as liquidity across DeFi — alongside the same price exposure you would get from a traditional brokerage account. ## What you actually own When you buy AAPL on GM Markets, you receive a tokenized representation of one AAPL share, fully backed 1:1 by an actual AAPL share held in segregated custody at a regulated US broker-dealer such as Alpaca Markets or Interactive Brokers. The token tracks the economic value of the underlying share: price movements, dividends, and corporate actions are all reflected in the token's on-chain NAV. The token lives in your own embedded wallet, so you retain custody and can move, trade, lend, borrow, or provide it as liquidity across DeFi at any time. It behaves like a stock for purposes of price exposure, and like a crypto asset for purposes of composability. ## Naming convention Tokenized assets surface throughout the product using the underlying ticker only — AAPL, not gAAPL or $AAPL or NASDAQ:AAPL or AAPL.US. There is no wrapper name visible to users. Asset URLs follow the same rule: /asset/aapl, /asset/spy. ## Composability with DeFi Common use cases for tokenized stocks include lending and borrowing on Aave and Morpho, margin trading and leverage on perps protocols, and providing liquidity on Uniswap, Curve, and CoW Swap. The composability of tokenized stocks is the central advantage over a traditional brokerage account — your AAPL exposure becomes productive capital that can earn additional yield while you hold it. ## Service availability GM Markets does not offer its product or services to users in the United States or in other restricted jurisdictions. See Service availability (/docs/service-availability) for the current list. ## See also - Custody and backing (/docs/custody-and-backing) — where the underlying shares are held and how they are protected - Proof of reserves (/docs/proof-of-reserves) — how you can verify 1:1 backing independently - Dividends and corporate actions (/docs/dividends-and-corporate-actions) — how distributions are reflected in NAV - RFQ execution (/docs/rfq-execution) — how every trade is priced and settled --- ## Custody and backing Source: https://gm.markets/docs/custody-and-backing Where the underlying shares live, who holds them, and what happens to your tokens if GM Markets discontinues operations. Every tokenized share on GM Markets is fully backed by a corresponding share in a segregated customer account at a regulated US broker-dealer such as Alpaca Markets or Interactive Brokers. Customer assets at these brokers are held separately from the broker's own funds, under the applicable investor-protection arrangements that apply to segregated client accounts. ## Where the shares live The underlying shares backing every tokenized asset on GM Markets are held in segregated customer accounts at regulated US broker-dealers such as Alpaca Markets and Interactive Brokers, operating under the supervisory frameworks of their respective jurisdictions. The shares remain available to token holders independently of GM Markets' or any single broker's commercial status. ## What happens if GM Markets discontinues operations Your assets remain protected through a designated security agent (GenTwo) who works directly with the custodian to redeem outstanding tokens against the underlying shares for token holders. The redemption path is enforced by the on-chain contract and is independent of GM Markets' continued operation. In other words, the value of your tokens is held in segregated customer accounts at the custodian, not on GM Markets' balance sheet. The security agent has standing authority to act on token holders' behalf to settle and return value to token holders. ## How you can verify it Reserves are independently attested by a third-party proof-of-reserves provider that reads share balances directly from the broker accounts and publishes the attested figures on-chain in real time. You can verify the live backing ratio for any asset on the Proof of Reserves (/proof-of-reserves) page. ## See also - Proof of reserves (/docs/proof-of-reserves) — the attestation mechanism in detail - Security model (/docs/security-model) — how the broader product is protected --- ## Proof of reserves Source: https://gm.markets/docs/proof-of-reserves How independent third-party attestation works, what is published on-chain, and where to see live backing ratios. Reserves on GM Markets are independently attested by a third-party proof-of-reserves service provider. The attester reads share balances directly from segregated customer accounts at regulated US broker-dealers such as Alpaca Markets and Interactive Brokers and publishes the attested values on-chain in real time. ## What the attestation contains For every asset, the on-chain attestation publishes: - Live token supply — total outstanding tokens for the asset across all chains - Attested broker balance — number of underlying shares held in segregated custody - Backing ratio — should be ≥1.0 at all times - Attestation timestamp — when the reading was taken - Attester signature — cryptographic proof that the data came from the third-party attester Every token outstanding is backed 1:1 by a corresponding share at the broker partner, and you can verify this independently at any time. ## How to verify The Proof of Reserves (/proof-of-reserves) page shows the live token supply, attested broker balance, backing ratio, and a link to the on-chain attestation contract for every asset. From there you can pull the raw on-chain data directly via any block explorer or RPC client. ## Why this matters Proof of reserves is the mechanism that turns "we say it is backed" into "you can prove it is backed." It is the structural reason a tokenized asset on GM Markets is meaningfully different from a balance entry on a centralized exchange. --- ## RFQ execution Source: https://gm.markets/docs/rfq-execution How every trade is priced via a regulated tokenized security issuer and settled back-to-back against the underlying market. GM Markets is a DEX. Trades execute via RFQ — Request-For-Quote — through regulated tokenized security issuers who hold the underlying shares in custody 1:1 to back the on-chain tokens. ## The lifecycle of one trade 1. You request — opening the trade sheet sends a quote request for your size and side 2. Tokenized security issuer responds — a live quote returns in milliseconds, typically valid for 5–10 seconds 3. You accept — tapping Confirm within the quote window commits the trade at that price (or within your slippage tolerance) 4. Settlement — the trade settles back-to-back against the underlying primary market; the on-chain token transfers to or from your wallet Because the quote may move slightly between request and confirmation, slippage tolerance is a first-class user-facing setting. The default is 0.5%, editable to 0.1% / 0.5% / 1% / custom in the trade sheet. ## How prices stay close to the underlying market Quotes are priced by tokenized security issuers against the live underlying market. When you accept a quote, the trade is settled back-to-back against the underlying instrument, so your fill closely tracks the prevailing market price at execution time. If the market moves beyond your tolerance during the quote window, the trade stays in pending state until cancelled by the user. ## See also - Quick Trade (/docs/quick-trade) — the full trade sheet, including slippage, TP/SL, and the order state machine - Pricing and fees (/docs/pricing-and-fees) — what the platform fee is and where it shows up - Trading hours (/docs/trading-hours) — what happens off-hours --- ## Dividends and corporate actions Source: https://gm.markets/docs/dividends-and-corporate-actions How dividends are reinvested into NAV, and how splits, spin-offs, mergers, and name changes are absorbed transparently. Dividends and corporate actions are reflected in the on-chain NAV of the token rather than as separate cash distributions to your wallet. The economic effect is identical to a traditional brokerage account — only the surfacing differs. ## Dividends When the underlying company pays a dividend, the cash is used to buy back more of the underlying shares, and the on-chain NAV of the token increases accordingly to reflect the added shares-per-token. You see the dividend value in the token's price rather than as a separate cash distribution. ## Stock splits, spin-offs, mergers, name changes For other corporate actions — stock splits, special distributions, spin-offs, mergers, name changes — the on-chain NAV is updated to fully reflect the action. The result is that your economic position tracks the underlying instrument exactly, with all corporate events absorbed transparently into the token's value. Every adjustment is observable on-chain through the token contract. ## Tax treatment Because dividends and corporate actions are reflected in NAV rather than as separate cash distributions, the dividend itself is generally not a taxable event under most jurisdictions — taxable events are typically triggered only when you realize a position. Consult a qualified tax advisor for guidance specific to your situation. ## Why this design Reflecting dividends into NAV instead of distributing cash keeps the product simpler to operate, eliminates failed-distribution edge cases, and gives every user automatic dividend reinvestment by default. It is a strict superset of the brokerage experience for any user who would have reinvested the dividend anyway, and identical economically for any user who would not. --- ## Trading hours and queueing Source: https://gm.markets/docs/trading-hours How orders behave during regular hours, extended hours, and overnight. Queue state, partial fills, and queued-order receipts. Each asset has a primary-market trading session inherited from the underlying instrument. The Asset detail header always shows a trading-hours pill so you know what to expect before tapping Buy. ## The four states you will see | When you submit | Behavior | Receipt | |---|---|---| | Regular market hours | Routes to market, executes, fills | Filled @ $X | | Pre-market or after-hours extended session | Routes to extended session; may partial-fill; remainder queued | Extended-hours · Filled 2 of 5 · 3 queued for next open | | Overnight / weekends / holidays | Order queued server-side until next open | Queued · Executes at market open in 6h 23m | | During hours but liquidity insufficient | Partial fill at available price; remainder queued | Filled 2 of 5 @ $228.50 avg · 3 queued for next session | ## The CTA copy never changes The button always reads Buy 0.44 sh of AAPL (or Sell). Queue status is never surfaced on the button itself. Instead, after you confirm during off-hours, the receipt tells you the order has been queued and gives you an estimated execution time. You receive a push notification when the order fills. ## Where to see queued orders All queued orders are visible in Portfolio → Orders with badge Queued · executes ≈ Mar 6, 09:30 local until they transition into Filled, Partially filled, or Cancelled. ## 24/7 assets For assets that trade continuously (e.g., crypto), orders fill immediately at the prevailing RFQ price regardless of time of day. The trading-hours pill on those assets reads LIVE 24/7. --- ## Pricing and fees Source: https://gm.markets/docs/pricing-and-fees Trading fee, VIP tier ladder, what is free, and what shows up in your receipt. The trading fee on GM Markets ranges from 0.10% to 0.20% (10 to 20 basis points). The default rate is 0.20%, and your fee progressively drops to 0.10% as your 14-day trading volume grows through the VIP tier ladder. The fee is included in the quoted price you see in the trade sheet — the "You will receive" line is the final amount that lands in your wallet. ## What is always free - Deposits, across every rail (Apple Pay, card, bank, stablecoin) - Withdrawals, across every rail - Gas, on every transaction — bundled into the trade quote (no separate gas line on a receipt) - Receiving USDC from any external wallet - Account creation, login, and key management ## VIP tier ladder VIP tiers are based on your trailing 14-day trading volume. As volume climbs, the trading fee drops on a sliding scale from the default 0.20% down to 0.10%. The full schedule lives on the Pricing (/pricing) page. ## What the receipt shows Every trade receipt lists action, date, order type, fill price, platform fee, total, and the on-chain transaction hash. The gas line either reads "Sponsored" or is omitted entirely. ## See also - Pricing page (/pricing) — full fee schedule and worked examples - RFQ execution (/docs/rfq-execution) — how the quoted price is built --- # Wallet and account ## Privy embedded wallet Source: https://gm.markets/docs/privy-embedded-wallet The MPC-backed embedded wallet provisioned at sign-up. Key management, biometric authorization, no seed phrase. Your embedded wallet is provisioned by Privy (https://privy.io) at sign-up and uses multi-party computation (MPC) for key management. No single party, including GM Markets, ever holds your complete private key. ## How authorization works Your Privy session authorizes transactions once you're signed in — there is no password to type, no seed phrase to write down, and no SMS OTP to wait for. If you want an extra confirmation step on every trade, enable Require Face ID, Touch ID, or your passkey before every trade in Account → Security (/account/security). ## What MPC means Multi-party computation splits your private key into multiple shares held by independent parties. A transaction signature requires a threshold of those shares to cooperate; no single party can sign on its own. This means even if one party is compromised, your wallet is not. ## Exporting your key You can export your private key at any time from Account → Security. The export is gated by email magic-link confirmation as a second factor. Once exported, you can import the wallet into any standard wallet (MetaMask, Phantom, Rabby, hardware wallets, etc.) and use it independently of GM Markets — this is your guarantee that you never lose self-custody. ## Cross-tab sync Your Privy session is shared across tabs via BroadcastChannel. Signing out in one tab signs you out everywhere; signing in restores state instantly in any other open tab. ## See also - Recovery and security (/docs/recovery-and-security) — recovery paths if you lose access - External wallets (/docs/external-wallets) — using MetaMask, Phantom, or other wallets instead --- ## External wallets Source: https://gm.markets/docs/external-wallets Using MetaMask, Phantom, Coinbase Wallet, or any WalletConnect-compatible wallet as your authentication method. You can sign in with an existing external wallet instead of using an embedded wallet. Pick Connect external wallet from the sign-in screen and the WalletConnect picker opens. Supported wallets include MetaMask, Phantom, Coinbase Wallet, Rabby, Trust Wallet, hardware wallets via the standard wallet protocols, and any other WalletConnect-compatible wallet. ## How it works When you connect an external wallet, that wallet is linked as your authentication method. Your assets remain in the wallet you already control. Every transaction is signed in your wallet's native UI exactly the way you are used to. ## What stays the same - USDF balance, deposits, withdrawals, trading flow, portfolio, and receipts all work identically - The trading-fee schedule and VIP tier ladder apply equally - Gas is still sponsored — you do not need a native chain token ## What is different - There is no in-app key export (your key is already yours) - Recovery is whatever recovery your wallet provider offers (seed phrase, social recovery, hardware key, etc.) - Some flows that depend on platform passkeys (e.g., automatic biometric on Apple Pay) may fall back to a wallet sign instead ## Switching between If you started with an embedded wallet and later want to use an external wallet, you can export your embedded key and import it into the external wallet — no funds need to move. Conversely, you can link multiple external wallets to one account from Account → Security. --- ## Networks supported Source: https://gm.markets/docs/networks-supported The chains where GM Markets accepts deposits, settles trades, and holds your token balances. GM Markets is multi-chain. Your USDF balance and tokenized stock holdings are per-chain at the wallet level — the trade UI surfaces a chain-scoped balance and per-chain holdings so you always see exactly what is available on the chain you are trading on. ## Where deposits land When you receive USDC from an external wallet, you pick the network in the deposit flow. Each supported network shows its address and QR alongside an estimated finality time. ## Bridging When you receive USDC on a chain different from the one your wallet was provisioned on, Privy's cross-chain bridging handles the transfer automatically in most cases. The fee and route are surfaced before you confirm. ## The full current list The chains supported at any given moment, with finality estimates and any per-chain limits, are listed on the deposit screen at runtime. Adding or removing a chain is a backend configuration change, not a UI update — the deposit flow is the canonical source. ## Why per-chain matters Because balances are per-chain, the Trade UI shows a chain selector. Picking a different chain swaps to that chain's USDF balance and that chain's holdings. The portfolio aggregates across chains; trade-side enforcement is always per-chain. --- ## USDF stablecoin Source: https://gm.markets/docs/usdf-stablecoin The unified stablecoin balance backed 1:1 by USDC and USDT. One currency, no native gas tokens, no separate gas line. USDF is the unified stablecoin balance on GM Markets, backed 1:1 by USDC and USDT held in custody. You hold one currency across the app, never need a native chain token to pay gas, and never see a separate gas line in any receipt (network gas is bundled into the trade quote). ## How USDF is minted USDF is a real ERC-20 token, not a UI abstraction. When you deposit (via Apple Pay, card, bank, or by receiving USDC), the equivalent USDF is minted to your wallet by an authorized partner. When you withdraw, USDF is queued for redemption back to USDC or fiat through the same partner. ## Why USDF and not USDC directly - One balance, not two — you do not need to think about USDC vs USDT vs native gas tokens - No gas friction — network gas is bundled into the trade quote, so you never need to hold a separate native token to pay fees - Stable display — your balance is always quoted in USD; no exchange-rate drift between USDC and USDT ## Per-chain mechanics USDF balance is per-chain at the wallet level. The Trade UI uses a chain-scoped balance from the chain you are trading on. The Portfolio aggregates across chains for a single total figure. ## Stablecoin symbols in the UI Stablecoins surface throughout the product with their canonical symbols (USDC, USDT, USDF) — never wrapped or prefixed. There is no gUSDC or yUSDC. ## See also - Add funds (/docs/add-funds) — how you get USDF into your wallet - Sell and withdraw (/docs/sell-and-withdraw) — how you redeem USDF back to USDC or fiat - Networks supported (/docs/networks-supported) — which chains USDF lives on --- ## Recovery and security Source: https://gm.markets/docs/recovery-and-security Recovery paths, second-factor enrollment, and what to do if you lose a device. GM Markets supports multiple recovery paths so you always have a way back into your account, plus a second-factor confirmation step for non-value-based account controls. ## Recovery paths - Passkey on a backup device — register a passkey on every device you trust - Email magic-link — re-authenticate by tapping a one-tap link sent to your email - TOTP authenticator app — optional, supports Google Authenticator, Authy, 1Password, and any standard TOTP app - External wallet — if you have linked an external wallet, you can re-auth via that wallet's standard signing flow You manage recovery methods from Account → Security. We recommend enrolling at least two methods. ## When second-factor confirmation appears There is no value-based step-up. Deposits, withdrawals, and trades of any size complete with biometric only — no email confirmation tied to dollar amount. Second-factor confirmation (email magic-link by default, or TOTP if enrolled) is reserved for: - Private-key export from Account → Security - New-device sign-in detection - Suspicious-activity re-authentication (geo jump, device change) - Session recovery when Privy session lapses mid-flow ## Token + expiry rules - Magic links and codes are valid for 10 minutes - Single-use (consumed on first verification) - Rate-limited: max 5 sends per email per hour - Bound to the originating session ID — a link issued in browser A cannot be used in browser B unless you explicitly choose "Use a different device" ## What is not used - SMS OTP is never sent for any flow - Phone-based authentication is not supported - Passwords are not used anywhere This is deliberate: tying a user to a phone number creates a persistent identity hook that contradicts the permissionless positioning. The recovery options above cover every real user. ## If you lose access entirely If you lose all enrolled devices and recovery methods at once, your wallet is recoverable only through the cryptographic share recovery mechanisms Privy provides — see Account → Security for the current options. Because you can export your private key at any time, the recommended posture is to export it once after sign-up and store the resulting seed phrase the way you would for any self-custody wallet. --- ## Account hub Source: https://gm.markets/docs/account-hub What the /account page contains, and what is intentionally NOT there. /account is the account home. The header shows your avatar, email, wallet address (truncated, with Copy), and the menu below lists the four destinations you actually navigate to often. ## What is in Account - Funds & activity — opens the funding sheet (deposit, withdraw, full transaction history) - Security — passkey, biometric, MFA setup, active sessions, currency display, export private key - Notifications — price alerts, push preferences, news subscriptions, email preferences - Help & Legal — search, categories, risk disclosures, T&Cs, privacy, tax-in-your-country, Telegram support - Logout — destroys Privy session and clears local Privy cache ## What is NOT in Account - No /account/wallet route — your wallet address is shown inline on the Account home and Privy's export-key flow is gated under Security - No /account/deposit route — opens the funding sheet via the balance pill from anywhere - No /account/withdraw route — opens the funding sheet (Withdraw tab) via the balance pill The currency-display setting (USD / INR / EUR / others) lives under /account/security. ## Why this structure Funds management is a sheet, not a route, because it is a context-dependent action triggered from wherever you happen to be — the balance pill carries that context. Splitting it into nested routes added friction without adding clarity. --- # Trading ## Quick Trade Source: https://gm.markets/docs/quick-trade The trade sheet in full: Market vs Limit, slippage, TP/SL, and the order state machine. Quick Trade is the single trade sheet for every asset. It opens from the sticky Buy/Sell bar on Asset detail, from row swipes on watchlists and holdings, and from the repeat-trade chip after any successful trade. ## What the sheet contains - Market | Limit segmented control (default Market) - Buy | Sell segmented control (Sell disabled when you hold none of the asset) - Market-hours pill at the top, broker-agnostic, with one of these states: - LIVE · market open · executes immediately - Queued · market opens in 6h 23m · order will execute at open - Extended hours · limited liquidity · may fill at open - Amount input prefilled with your default trade amount, with quick chips for 25% · 50% · 75% · Max of available cash (Buy) or position (Sell) - Limit price input (Limit only) with quick suggestions LTP · LTP-1% · LTP-5% · LTP-10% - Slippage tolerance pill (always shown) with dropdown: 0.1% / 0.5% / 1% / custom - Live quote refreshing every ~2 seconds: Quote: $228.50 · valid 8s · Refresh - Fee breakdown showing platform fee + Gas sponsored - Available balance pill recalculating as price moves - Primary CTA reading Buy 0.44 sh @ $228.50 ## Take Profit and Stop Loss Below the primary trade fields, two unchecked checkboxes: Take Profit (TP) and Stop Loss (SL). Checking either reveals an input row with three tabs — Price · Percent · Dollar — which are mathematically linked. Type in any one and the other two auto-populate live as you type. - Price ↔ Percent: percent = (target − entry) / entry × 100 - Price ↔ Dollar: dollar = (target − entry) × quantity - Percent ↔ Dollar: dollar = entry × quantity × percent / 100 Whichever field you last touched is the source of truth for that session. TP and SL are placed as resting orders that auto-trigger when the underlying price reaches the target. Both appear in Portfolio → Orders with their own state machine. ## Biometric confirm (optional) By default, tapping Confirm submits the trade immediately. If you want an extra confirmation step on every trade, enable Require Face ID, Touch ID, or your passkey before every trade in Account → Security (/account/security). With the toggle on, your device prompts for a biometric or passkey before each order leaves the sheet. ## The order state machine Every Market order moves through: quote_requested → quote_received → awaiting_confirm → soft_cancel → submitted → filled | partial_filled | queued | failed_execution Every Limit order moves through: submitted → pending → filled | partial_filled | modified | cancelled_by_user Every TP/SL order moves through: armed → triggered → filled | partial_filled | failed_execution The full state machines (with every transition labeled) live in MASTER-SPEC §24 — see for AI agents (/docs/llms-full-txt) for the machine-readable export. ## No value-based confirmation There is no second-factor prompt tied to trade size. Trades of any amount complete with biometric only. See Recovery and security (/docs/recovery-and-security) for the controls that do require a second factor (key export, new-device, suspicious-activity). ## See also - RFQ execution (/docs/rfq-execution) — how the quote is built - Trading hours (/docs/trading-hours) — what happens off-hours - Pricing and fees (/docs/pricing-and-fees) — what the platform fee is --- ## Assets available Source: https://gm.markets/docs/assets-available The catalog of tokenized stocks and ETFs, how new assets are added, and where the live list lives. The full live catalog of tradeable assets is published at /markets (/markets) and as a machine-readable sitemap at /sitemap-assets.xml (/sitemap-assets.xml). Both are updated as assets are added or removed. ## What you can trade - US stocks — single-listed equities on NYSE, NASDAQ, and AMEX - US ETFs — broad-market and sector ETFs (SPY, QQQ, VOO, etc.) - Future asset classes — additional asset types will be added; check /markets (/markets) for the live list ## Naming convention Every asset uses its underlying ticker only — AAPL, SPY, QQQ — no g- prefix, no exchange prefix, no country suffix. Asset URLs follow the same rule: /asset/aapl, /asset/spy. ## How new assets are added New listings happen in batches. Each requires: - Custody arrangement at one of the regulated broker partners - Live attestation feed into the proof-of-reserves system - Liquidity coverage from at least one tokenized security issuer When all three are in place, the asset appears on the markets page and is immediately tradeable. ## Asset detail Every asset has a detail page at /asset/ with chart, fundamentals, news, holdings, and a sticky Buy/Sell bar. The chart supports 1D / 1W / 1M / 3M / YTD / 1Y / ALL ranges; the underlying market session (regular, extended, queued) is always visible at the top. --- ## Watchlists Source: https://gm.markets/docs/watchlists How watchlists work: the default list, custom lists, swipe actions, and the star icon. Every account has a default watchlist named My Watchlist that is always present. You can add custom watchlists alongside it, but the default is the always-on baseline. The default list cannot be deleted or renamed. ## Adding and removing - Tap the star icon on any asset row to open the manage sheet and pick a list - Star is filled when the asset is in at least one watchlist - Long-press a row in any list to open the manage sheet (swap lists, remove) ## Row actions - Tap a row → opens Asset detail - Swipe right → opens Quick Trade pre-set to Buy - Swipe left → opens Quick Trade pre-set to Sell (only if you hold the asset) On desktop, hovering a row reveals inline Buy / Sell buttons; right-clicking opens a context menu (Buy · Sell · Add alert · Add to watchlist · View details). ## Where watchlists appear Watchlists are the first thing you see at the top of Markets. On desktop they share a 2-pane layout with discovery surfaces (trending, top movers, sectors). On mobile they are a single scrollable column at the top, above discovery. ## Reordering Drag a row to reorder within a list. Order persists across sessions on the same device. --- ## Portfolio Source: https://gm.markets/docs/portfolio Holdings, Orders, Transactions, and P&L. Sortable filters, swipe actions, CSV export. The Portfolio page has three sub-tabs — Holdings, Orders, Transactions — and a header with your total value, day P&L, and an asset allocation donut. ## Holdings Each row shows ticker, quantity, average cost, last traded price, current value, day P&L, overall P&L, and allocation %. Filter pills: All / Stocks / ETFs / Gainers / Losers / Closed. Sort by current value, day P&L, overall P&L, or allocation %. Row actions: - Tap → opens Asset detail - Swipe right → Quick Trade Buy - Swipe left → Quick Trade Sell ## Orders Filter by Pending / Executed / Cancelled. Tap a pending order to open the modify sheet (change quantity, price, TP, SL). Swipe left on a pending order to cancel. Tap an executed order for a receipt-style detail. ## Transactions The unified list of every Deposit, Withdraw, Buy, and Sell, with status badges from the state machines documented in Quick Trade (/docs/quick-trade). Filter by All / Deposit / Withdraw / Trade. Tap any row for tx detail with an explorer link. ## Performance chart Header chart with ranges 1D / 1W / 1M / 3M / YTD / 1Y / ALL. Optional benchmark overlay: S&P 500, NIFTY, or BTC. ## Exports Top-right menu offers CSV export, PDF export, and print. The CSV is the canonical source for tax reporting — every trade, every transaction, every fee. ## Empty state If you have not made a trade yet, the page shows an empty-state illustration with the headline "Start your portfolio" and a CTA into Markets discovery. --- ## VIP and referrals Source: https://gm.markets/docs/vip-and-referrals The VIP tier ladder for trading-fee discounts, and the referral mechanism for sharing GM Markets. GM Markets has two earn mechanisms: the VIP tier ladder (built into the trading-fee schedule) and the referral program (a dedicated page in the primary nav). ## VIP tier ladder Your trailing 14-day trading volume determines your VIP tier. As volume climbs, the trading fee slides from the default 0.20% down to 0.10%. Tier changes happen automatically — no opt-in required. The full schedule and bracket breakpoints are on the Pricing (/pricing) page. ## Referrals Each account has a referral link accessible from the Referrals (/referrals) page (gift icon in the header). When someone signs up through your link and trades, you earn a share of their trading fees — settled daily in USDF, with no cap and no expiry. Your share scales with your VIP tier, up to 50% at the top tier. The same page surfaces your invite link, friends invited, and the full VIP-to-share table. ## What we do not do - We do not pay referral rewards in cash that can be withdrawn (rewards apply to trading fees) - We do not run multi-level / pyramid mechanics — only first-degree referrals earn - We do not gamify referrals with leaderboards or competitive framing --- # Safety and compliance ## Security model Source: https://gm.markets/docs/security-model The protections on every layer: custody, smart contracts, wallet, recovery, and operational controls. Security on GM Markets sits on four layers. Each is documented in detail on its own page; this is the map. ## Custody layer Underlying shares are held in segregated customer accounts at regulated US broker-dealers such as Alpaca Markets and Interactive Brokers, separate from the broker's own funds, under the applicable investor-protection arrangements. Independent third-party attestation publishes the share balance on-chain in real time. See Custody and backing (/docs/custody-and-backing) and Proof of reserves (/docs/proof-of-reserves). ## Smart contract layer The token contracts, mint/redeem partner contracts, and security-agent contracts are audited by independent firms. See Smart contract audits (/docs/smart-contract-audits) for the audit history. ## Wallet layer Embedded wallets are MPC-backed by Privy — no single party holds your complete key. Biometric authorization on every transaction. Recovery paths via passkey, email magic link, TOTP, or external wallet. See Privy embedded wallet (/docs/privy-embedded-wallet) and Recovery and security (/docs/recovery-and-security). ## Operational layer Rate-limited magic links. Bound-to-session tokens. New-device sign-in detection. Suspicious-activity re-authentication (geo jump, device change). Private-key export gated by magic-link + 24h cooldown. No value-based step-up — trades, deposits, and withdrawals never trigger a second-factor prompt based on dollar size. See Recovery and security (/docs/recovery-and-security) for the full mechanism. ## The product Security page The /security (/security) page is the marketing-facing security overview — the docs page links to it but does not duplicate it. The docs pages are the deep reference; /security is the summary. --- ## Smart contract audits Source: https://gm.markets/docs/smart-contract-audits Which contracts are audited, by whom, and where the reports live. Every smart contract that custodies value or handles authorization on GM Markets is audited by independent security firms before deployment. ## What is audited - Token contracts — the per-asset tokenized stock contracts - Mint/redeem partner contracts — the authorized-participant gateway used by the broker partner to mint and burn tokens against custody - Security-agent contracts — the on-chain mechanism that grants standing authority to redeem outstanding tokens against the underlying shares if GM Markets discontinues operations - Proof-of-reserves attestation contract — the on-chain feed that the third-party attester writes to ## Audit history The audit reports, audit firms, scopes, and remediation notes are published on the /security (/security) page and in the source repository for each contract. Every material change to a contract triggers a re-audit before deployment. ## Bug bounty GM Markets runs a bug bounty for smart-contract issues. Severity tiers and payout brackets are listed on the /security (/security) page. Reports to security@gm.markets. --- ## Service availability Source: https://gm.markets/docs/service-availability The jurisdictions where GM Markets is and is not available, and how gating works. GM Markets does not offer its product or services to users in the United States or in other restricted jurisdictions. ## How gating works Jurisdictional gating happens silently per region, not per user. A user in a restricted jurisdiction will not see a confusing in-app identity prompt — the app simply does not transact with that user. This is a deliberate choice to avoid the false impression that completing a form might unlock access. ## The current list The authoritative list of restricted jurisdictions is published at /legal#availability (/legal#availability). The list is updated as regulatory posture changes. ## What "permissionless" means here Permissionless on GM Markets means: no minimum-balance threshold, no manual approval queue, and no application form. It does not mean unavailable jurisdictions can transact — restrictions are enforced regardless of how the user authenticates. ## See also - Legal page (/legal) — full terms, privacy, and the AML stance - Disclaimers (/docs/disclaimers) — the persistent footer disclaimer and pre-trade modal --- ## Risk disclosure Source: https://gm.markets/docs/risk-disclosure The risks of trading on GM Markets — market risk, liquidity risk, smart contract risk, custody risk. Trading on GM Markets carries risk, including the loss of principal. The full risk disclosure lives at /legal#risk (/legal#risk). This page summarizes the major categories. ## Market risk Asset prices can move against you, including overnight gaps that may exceed your slippage tolerance or Stop Loss trigger. Past performance does not guarantee future returns. Markets can become illiquid, especially outside regular hours, and your order may queue or partial-fill. ## Smart contract risk Tokenized assets rely on smart contracts. While every contract is audited, no audit eliminates risk entirely. A discovered vulnerability or an unforeseen interaction with another protocol could affect the value or availability of your tokens. ## Custody risk The underlying shares are held at regulated broker-dealers such as Alpaca Markets and Interactive Brokers under segregated customer accounts. Investor-protection arrangements apply within the jurisdictional limits of each broker; protection is not unlimited. The security-agent mechanism (GenTwo) is designed to redeem outstanding tokens against the underlying shares if GM Markets discontinues operations, but redemption depends on the continued operation of the broker partner. ## Bridging and chain risk Cross-chain bridges and the underlying blockchains can be congested, halted, or compromised. Funds in transit during a chain-level incident may be delayed or, in extreme cases, lost. Always confirm the network before initiating a cross-chain transfer. ## Liquidity risk The tokenized security issuers that quote prices may withdraw liquidity in extreme conditions. When this happens, the trade sheet will not return a quote and you cannot execute until liquidity returns. ## What GM Markets does NOT claim - We do not claim any asset or transaction is risk-free - We do not guarantee returns - We do not advise on what to buy or sell - We do not predict prices - We do not protect against market risk You are responsible for your own trades. Read the full risk disclosure before trading. --- ## Disclaimers Source: https://gm.markets/docs/disclaimers What we never claim, the pre-trade acknowledgement, the receipt disclaimer, and the persistent footer. GM Markets does not provide financial, investment, tax, or legal advice. All investments carry risk including the loss of principal. Past performance does not guarantee future returns. Prices may move against you. ## The persistent footer Every screen of GM Markets carries the disclaimer above in the footer, with a link to the full risk disclosure. ## Pre-trade acknowledgement Before your very first trade, a one-time modal asks for explicit acknowledgement of the risks. You tick a checkbox confirming you understand markets can move against you, that GM Markets does not advise on what to buy or sell, and that decisions are yours. Once acknowledged, the modal never reappears. ## Per-asset-class acknowledgement When you first interact with a new asset class you have not traded before, a short class-specific risk acknowledgement appears the first time. Same pattern as above, scoped to the asset class. ## Receipt disclaimer Every trade receipt ends with a small line: "Trade executed. Markets carry risk; this is not advice." ## Ask AI footer When you ask anything via the Ask AI mode of Search, the response carries the footer: "Powered by AI · may contain mistakes · not financial advice." ## What we explicitly do NOT do - We never say "you should buy X" or "X is undervalued" or any predictive framing - We never use language like "guaranteed", "risk-free", "best", "winning trade" - We never display annualized returns without time-period context - We never gamify wins — no confetti on profit, no celebration tied to P&L - We never compare your returns to other users - We never offer "tips" or "picks" --- # For AI agents ## llms.txt Source: https://gm.markets/docs/llms-txt A short, machine-readable index pointing AI agents at the canonical docs surfaces. GM Markets publishes a llms.txt (https://gm.markets/llms.txt) file at the site root following the llms.txt specification (https://llmstxt.org). The file is a concise pointer to the canonical documentation surfaces AI agents should ingest. ## What llms.txt is llms.txt is a small markdown file at the root of a website that gives AI agents a clean, deterministic index of the docs they should read. It is the AI-agent equivalent of a sitemap, but trimmed to the surfaces that matter for understanding the product. ## What ours contains - A one-paragraph product description - A link to llms-full.txt (/llms-full.txt) — the comprehensive product context, every docs page concatenated - Links to the user-facing canonical pages: FAQ, Pricing, Security, Proof of Reserves, the live asset list - The topics GM Markets is about (tokenized equities, permissionless stock trading, RFQ broker model, Privy embedded wallet) ## Why this exists When an AI agent answers a question about GM Markets — "How do I buy AAPL on GM Markets" or "What is USDF" or "How does GM Markets keep funds safe" — the agent's answer is only as good as the source material it can find. llms.txt gives every agent the exact same well-structured starting point. ## See also - llms-full.txt (/docs/llms-full-txt) — the comprehensive concatenation - Structured data (/docs/structured-data) — schema.org markup we emit on every page --- ## llms-full.txt Source: https://gm.markets/docs/llms-full-txt The comprehensive product context — every docs page concatenated as plain text, served at /llms-full.txt. GM Markets publishes a llms-full.txt (https://gm.markets/llms-full.txt) at the site root containing the full text of every documentation page on the site, concatenated and served as plain text. ## What it contains Every page in the /docs (/docs) tree, in the same order as the sidebar: - Overview - Getting started (Connect a wallet, Add funds, Your first trade, Sell and withdraw) - How it works (Tokenized stocks, Custody and backing, Proof of reserves, RFQ execution, Dividends, Trading hours, Pricing and fees) - Wallet and account (Privy embedded wallet, External wallets, Networks supported, USDF stablecoin, Recovery and security, Account hub) - Trading (Quick Trade, Assets available, Watchlists, Portfolio, VIP and referrals) - Safety and compliance (Security model, Smart contract audits, Service availability, Risk disclosure, Disclaimers) - For AI agents (this group) - Reference (FAQ, Glossary, Contract addresses, Status) ## How it is generated The file is generated at build time from the same registry that powers the human-facing docs pages. Edits to a docs page automatically flow through to llms-full.txt on the next deploy — no double-maintenance. ## Format Plain text, UTF-8. Markdown-style headings (#, ##, ###) demarcate pages and sections. Links are rendered as label (url) so they survive plain-text extraction. Tables are preserved as pipe-delimited rows. ## Recommended use - AI agents and crawlers should fetch /llms-full.txt once and ingest the whole file - For a smaller starting point, fetch /llms.txt (/llms.txt) first for the index - For schema-typed extraction, the underlying HTML pages emit FAQPage, BreadcrumbList, and Article schema.org markup — see Structured data (/docs/structured-data) --- ## Structured data Source: https://gm.markets/docs/structured-data The schema.org markup emitted on every page so AI citation engines can extract claims cleanly. Every public page on GM Markets emits structured data as JSON-LD in the document head. This is the same data /llms-full.txt exposes as plain text, plus a layer of schema typing that AI citation engines and search crawlers consume directly. ## Schemas in use | Schema | Where it appears | What it carries | |---|---|---| | Organization | Every page (root layout) | Brand identity, logo, contact point, social profiles | | WebSite | Every page (root layout) | Site identity, search action | | BreadcrumbList | Asset detail, docs, list pages | Hierarchical position in the site | | FAQPage | /docs/faq (/docs/faq), key asset pages | Question / answer pairs extractable by AI agents | | Article | Docs pages | Page-level metadata: dateModified, author | | FinancialProduct | Asset detail (/asset/) | Asset-level metadata for the tokenized instrument | ## Why we emit JSON-LD specifically JSON-LD is the format Google, Perplexity, and Claude crawlers extract most reliably. It does not interfere with rendered HTML, sits at the document head, and is preserved through aggressive transforms like reader-mode and AMP variants. ## Where to find it Open the source of any GM Markets page and search for application/ld+json. Every block is a single, well-formed JSON document. ## Direct AI agent integration Beyond schema markup, GM Markets ships: - A public ChatGPT GPT and OpenAI Action so users can query asset prices and ask questions from inside ChatGPT - An MCP server (gm-markets-mcp) for Claude Desktop and other MCP-aware clients - Sample integration code in Anthropic SDK (https://docs.anthropic.com) and OpenAI SDK (https://platform.openai.com/docs) examples These turn GM Markets into a tool agents can call, not just a document they cite. --- # Reference ## FAQ Source: https://gm.markets/docs/faq The most common questions answered in one place — custody, fees, dividends, recovery, verification. The most common questions about GM Markets, with concise plain-text answers suitable for both humans and AI extraction. ## What am I actually buying when I buy AAPL on GM Markets? You are buying a tokenized representation of one AAPL share, backed 1:1 by a real AAPL share held in segregated custody at a regulated broker-dealer. The token tracks price, dividends, and corporate actions of the underlying share, lives in your own embedded wallet, and is composable across DeFi. ## What happens to my tokens if GM Markets discontinues operations? Your assets are held in segregated customer accounts at the broker-dealer, not on GM Markets' balance sheet. A designated security agent (GenTwo) has standing authority to redeem outstanding tokens against the underlying shares for token holders, enforced by the on-chain contract independent of GM Markets' continued operation. ## How are the underlying shares held and protected? The underlying shares are held in segregated customer accounts at regulated US broker-dealers such as Alpaca Markets and Interactive Brokers. Customer assets are segregated from broker assets under applicable investor-protection arrangements. ## Where can I use these tokens? Because every asset is a standard on-chain token in your own wallet, you can use it across DeFi: lending and borrowing on Aave or Morpho, leverage on perps protocols, and providing liquidity on Uniswap, Curve, or CoW Swap. GM Markets is not available to users in the United States or other restricted jurisdictions. ## What are the total fees on a trade? The trading fee ranges from 0.10% to 0.20% (10 to 20 basis points); the default is 0.20% and drops to 0.10% as your 14-day volume climbs the VIP ladder. The trading fee and network gas are both included in the quoted price. Deposits, withdrawals, and sends are free across every rail. ## Do I receive dividends? What happens during corporate actions? Yes. Dividends are reinvested into more underlying shares and reflected in the on-chain NAV of the token (the token's price reflects the added shares-per-token). Stock splits, special distributions, spin-offs, mergers, and name changes are all absorbed transparently into the token's NAV. ## How does the price on GM Markets compare to the actual stock price? Prices come from real-time RFQ quotes provided by regulated tokenized security issuers who price each quote against the live underlying market. When you accept a quote, the trade settles back-to-back so your fill closely tracks the prevailing market price. You can set slippage tolerance (default 0.5%) to cap drift. ## What is the minimum trade size? Can I buy fractional shares? The minimum trade size is $1, and fractional shares are supported down to six decimal places. There is no ceiling on trade size — daily, weekly, or per-order. ## Can I trade outside of regular market hours? Yes. Orders placed outside regular market hours are queued on-chain and execute automatically when liquidity is available or the market opens. For 24/7 assets, orders fill immediately at the prevailing RFQ price. ## How is my wallet secured? What if I lose access? Your embedded wallet is held by Privy and uses MPC for key management — no single party, including GM Markets, holds your complete private key. Your Privy session authorizes transactions; an optional per-trade biometric step is available in Account → Security. Recovery paths include passkey on a backup device, email magic-link, and optional TOTP. Second-factor confirmation is reserved for non-value-based controls (key export, new-device sign-in, suspicious-activity re-auth) — not for trade or withdrawal size. ## How can I verify that my tokens are backed 1:1? Reserves are independently attested by a third-party proof-of-reserves service provider that reads share balances directly from segregated accounts at regulated US broker-dealers such as Alpaca Markets and Interactive Brokers and publishes the attested values on-chain in real time. The Proof of Reserves (/proof-of-reserves) page shows live token supply, attested broker balance, backing ratio, and the on-chain attestation contract for every asset. ## Is this taxable? Will GM Markets provide tax forms? You are responsible for tax obligations in your jurisdiction. GM Markets provides a complete CSV export of every trade and transaction. Because dividends and corporate actions are reflected in the on-chain NAV rather than separate cash distributions, the dividend itself is generally not a taxable event under most jurisdictions — taxable events are typically triggered only when you realize a position. ## Still have a question? Open Telegram support or send feedback from the search overlay. --- ## Glossary Source: https://gm.markets/docs/glossary Definitions of the terms used throughout the product and these docs. The vocabulary used throughout GM Markets and these docs. ## A AP (authorized participant) — A regulated entity authorized to mint and burn tokens against custody. The on-chain gateway through which underlying shares enter and leave the tokenized supply. Asset detail — The page at /asset/ showing chart, fundamentals, news, and a sticky Buy/Sell bar for any single asset. ## B Balance pill — The persistent USDF balance affordance at the top of every screen. Tap it to open the funding sheet. Biometric — Face ID, Touch ID, or your platform passkey. Used at sign-in, and optionally as a per-trade confirmation step when enabled in Account → Security. ## E Embedded wallet — A wallet provisioned by Privy at sign-up using multi-party computation. Lives in your account; no seed phrase to write down. See Privy embedded wallet (/docs/privy-embedded-wallet). ## F Fractional shares — Buying less than one whole share. Supported down to six decimal places on every asset. ## L Limit order — An order at a specified price; rests in the order book until filled or cancelled. See Quick Trade (/docs/quick-trade). LTP — Last traded price. Used as the reference for Limit price quick-suggestions (LTP, LTP-1%, LTP-5%, LTP-10%) and for percent / dollar computations in TP/SL. ## M Magic link — A one-tap link sent to your email for auth, account recovery, key export, new-device sign-in, or suspicious-activity re-auth. Not used as a value-based confirmation step on trades or withdrawals. See Recovery and security (/docs/recovery-and-security). Market order — An order at the current quoted price; executes immediately during market hours. See Quick Trade (/docs/quick-trade). MPC (multi-party computation) — A cryptographic technique that splits a private key into multiple shares held by independent parties. The mechanism behind every Privy embedded wallet. ## N NAV (net asset value) — The on-chain value of a tokenized asset, reflecting price, accrued dividends, and corporate actions. See Dividends and corporate actions (/docs/dividends-and-corporate-actions). ## P Passkey — A WebAuthn credential bound to a device, used as a recovery and primary auth method. Permissionless — No manual approval, no application form. Restricted jurisdictions remain restricted regardless. See Service availability (/docs/service-availability). Proof of reserves — Independent third-party attestation that publishes share balances on-chain in real time. See Proof of reserves (/docs/proof-of-reserves). ## R RFQ (Request-For-Quote) — The execution model on GM Markets. A tokenized security issuer returns a live quote; you accept within a short window; the trade settles back-to-back. See RFQ execution (/docs/rfq-execution). ## S Slippage tolerance — The maximum acceptable drift between quote and execution. Default 0.5%, editable in the trade sheet. Soft-cancel window — The 5-second countdown after you tap Confirm before the trade submits. Lets you back out without side effect. Stop Loss (SL) — A conditional sell order triggered when the underlying price falls to a target. See Quick Trade (/docs/quick-trade). Step-up confirmation — The second-factor confirmation step for sensitive account controls: private-key export, new-device sign-in, and suspicious-activity re-auth. Delivered by email magic link or TOTP. Not triggered by trade or withdrawal size — those have no value-based gate. ## T Take Profit (TP) — A conditional sell order triggered when the underlying price reaches an upside target. See Quick Trade (/docs/quick-trade). TOTP — Time-based one-time password from an authenticator app (Google Authenticator, Authy, 1Password). Optional second factor for step-up. ## U USDF — The unified stablecoin balance on GM Markets, backed 1:1 by USDC and USDT. One currency across the app; no native gas tokens needed. See USDF stablecoin (/docs/usdf-stablecoin). ## V VIP tier — The trading-fee discount ladder based on your trailing 14-day volume. See Pricing and fees (/docs/pricing-and-fees). --- ## Contract addresses Source: https://gm.markets/docs/contract-addresses Per-network deployment addresses for the token, partner, and security-agent contracts. The deployment addresses for every smart contract that backs GM Markets are published per network. The canonical source is the on-chain registry; this page is a human-readable index. ## What is published - Per-asset token contracts — one address per tokenized stock or ETF, per chain - Mint/redeem partner contract — the AP-gateway contract used to mint and burn tokens against custody - Security-agent contract — the on-chain mechanism granting standing redemption authority - Proof-of-reserves attestation contract — the on-chain feed the third-party attester writes to - USDF contract — the unified stablecoin contract ## Where to find live addresses The runtime addresses are surfaced on the /proof-of-reserves (/proof-of-reserves) page (one row per asset with the contract address and explorer link) and in the deposit sheet (per-network USDF address shown when you select a chain). ## Why this page does not enumerate addresses inline The list changes whenever a new asset is added, a contract is upgraded, or a network is added. Hard-coding the list in a docs page would invite stale data. The canonical sources above are kept in sync with deployment automatically. ## See also - Proof of reserves (/docs/proof-of-reserves) — the attestation mechanism and where to read the contract directly - Smart contract audits (/docs/smart-contract-audits) — which contracts are audited and where the reports live - Networks supported (/docs/networks-supported) — which chains the contracts are deployed on --- ## Status and uptime Source: https://gm.markets/docs/status Where to check operational status, recent incidents, and historical uptime. Operational status, ongoing incidents, and historical uptime are published at /status (/status). The page updates in real time and is the canonical source for whether any platform component is degraded. ## What the status page tracks - Frontend — gm.markets and app availability - Sign-in — Privy authentication, wallet provisioning - Trading — quote requests, order submission, settlement - Funding — deposits, withdrawals, on-ramp partner status - On-chain attestation — proof-of-reserves attestation feed liveness Each component shows current status (operational / degraded / outage) and the last 90 days of uptime. ## Subscribing to updates The status page supports email and webhook subscriptions for incident notifications. Subscribe once and you receive updates whenever a component changes state. ## During an incident If you cannot complete a trade or your balance looks wrong, check the status page first. Most user-visible errors during an incident come with explicit copy pointing here. ## For oncall and engineering teams Internal runbooks, severity definitions, and the incident response process are not user-facing. ---