> For the complete documentation index, see [llms.txt](https://docs.miragefi.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.miragefi.org/assets/asset-roadmap.md).

# Asset roadmap

The asset classes MirageFi will list after Stock Tokens, and the prerequisites for each.

Expansion happens by asset class, in whatever order the listing requirements can genuinely be satisfied on Robinhood Chain. Every stage is gated on infrastructure facts rather than announcements.

## Stage 1: the Stock Token long tail (live and expanding)

Tier A came first. Tier B and C markets open in batches as feeds are confirmed and bytecode reviews are completed. The long tail is where an RWA-native venue counts most: these are precisely the assets that pooled designs cap hard or exclude, and that thin generic pools misprice worst. See the [Listing framework](/assets/listing-framework.md).

## Stage 2: tokenized treasuries

After stablecoins, tokenized US Treasuries are the largest transferable RWA category (\~$16B), which makes them the obvious second asset class: a trader leaving equity exposure should be able to move into yield without leaving the venue.

Before the first treasury market opens:

* A treasury token deployed on Robinhood Chain, either natively or bridged via CCIP, from a regulated issuer and with a freely transferable design (USDY-class, not allowlist-gated).
* A NAV-consistent Chainlink feed on chain 4663 for the exact token.
* The [listing checklist](/assets/listing-framework.md), plus the NAV addendum: NAV-type assets are quoted within a tight band around NAV, and the closed-regime logic gives way to the fund's own accrual behaviour, because treasuries have no weekend gap in the equity sense.

Where the token is transfer-restricted at the contract level, the vault is deployed in its permissioned variant and allowlisted by the issuer, with eligibility enforced both by the issuer's hooks and by MirageFi's registry.

## Stage 3: tokenized gold

PAXG-class tokenized gold trades 24/7 against a spot reference and has no session structure, which makes it the simplest asset the venue will ever list: `OPEN` at all hours, with the spread driven only by feed cadence and inventory. The requirement is the same one that applies everywhere: the exact token bridged to chain 4663 with a Chainlink feed of its own, plus a bridge review that covers the mint path, the custodian attestations and pause behaviour.

## Stage 4: whatever the chain issues next

Robinhood has signalled private-market tokens and additional RWA classes on its chain. Whatever arrives is measured against the same checklist. An asset that cannot pass it (no per-token feed, no session signal, undisclosed issuer terms) is not listed, however strong the demand.

## What will not be listed

* Wrappers, vault shares or receipt tokens whose price would have to be derived rather than fed. Pricing the exact token is a hard rule; the July 2026 wGOOGLx incident is the case study in [Lessons from RWA trading](/risk/lessons.md).
* Synthetics that lack a regulated issuer and 1:1 backing.
* Any asset whose bytecode review turns up undisclosed transfer controls.


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