A treasury that holds the Nasdaq
Nasdaq Strategy is a token on Pons backed by a treasury of tokenized Invesco QQQ, the ETF that tracks the Nasdaq-100. The treasury buys Nasdaq, publishes every holding on chain, and pays holders in QQQ. One wallet, one index, a ledger you can read.
Strategy turned a company into a bitcoin treasury. Nasdaq Strategy turns a token into a Nasdaq-100 treasury: shares of the index, held on chain, paid out to the people who hold the token.
A token can't own the Nasdaq.
Its treasury can.
One wallet, public from day one. It accumulates tokenized QQQ, it distributes QQQ to holders, and both ledgers are read from Robinhood Chain on every visit. Nothing here asks to be believed.
Accumulate
The treasury buys Invesco QQQ, the Nasdaq-100 in one share, and holds it on chain.
The treasury is a wallet with one mandate: hold Nasdaq. It buys tokenized QQQ, Robinhood's own token of the ETF, at its manager's discretion and with capital he commits; nothing is promised from trading fees. Every purchase is a QQQ transfer into the wallet, listed on the treasury page with its transaction the moment it lands.
Distribute
Payouts go out in QQQ, pro rata, to every wallet holding $NSTR at the record block.
When the treasury pays, it takes the holder list at that block and sends each wallet its share of the amount, one QQQ transfer per holder. Contracts, the bonding curve, the pool and the treasury itself are excluded. Payouts under 0.0005 QQQ are skipped, because the transfer would cost more than it carries. The date is the manager's call and is not announced in advance.
Verify
NAV per token, mNAV, every acquisition and every payout: read from the chain, not reported.
The figures a treasury company lives by are computed in your browser from the chain: the treasury's QQQ over the supply gives the NAV per token, and the market cap over the treasury's value gives the mNAV, the premium or discount the market puts on it. The treasury page lists every QQQ that entered the wallet, the dividends page every QQQ that left it for holders, each with its transaction.
How it works
Four steps. One is Pons' contract, one is Robinhood's token, two are a wallet whose every move is a transaction on the explorer.
$NSTR is a normal Pons launch.
One billion tokens on a bonding curve, then a locked pool after graduation. Buy it on Pons like any other token on Robinhood Chain. Holding it is the only thing the dividend asks of you.
The treasury buys QQQ.
Tokenized Invesco QQQ trades on the chain at …, held by … wallets. The treasury buys it when its manager decides, and holds it. Every purchase appears on the treasury page with its transaction; the NAV per token moves with it.
The record date is a block number.
On a payout, the holder list is rebuilt from the token's own transfer history at that block. Your share is your balance over the supply. Not an average, not a vesting curve: a snapshot, at a block that is not announced beforehand.
QQQ lands in your wallet.
One QQQ transfer per holder, from the treasury, in the open. Keep the shares, sell them on the chain, or hold them like any other position. The dividends page lists every payout with its record block and its transactions.
$NSTR is a normal Pons launch.
A bonding curve, then a locked pool. Holding it is all the dividend asks.
The treasury buys QQQ.
Tokenized Invesco QQQ, bought when the manager decides, every purchase on the treasury page.
The record date is a block number.
Holders are snapshotted at the payout block, unannounced.
QQQ lands in your wallet.
One transfer per holder, listed on the dividends page.
Companies pay dividends in cash.
Nasdaq Strategy pays them
in the Nasdaq.
Hold $NSTR.
One token on Pons. Behind it, a wallet full of Nasdaq.
For holders
$NSTR trades on Pons on Robinhood Chain. Hold it through a record block and the next payout includes you, in tokenized Nasdaq-100 shares, straight to your wallet.
Buy on PonsFor the sceptical
The wallet is public, its QQQ balance is one call away, and both ledgers are rebuilt from the explorer on every visit. Check them before you believe any of it.
The treasury