Henar
Henar is the market and intelligence layer for stocks on Solana.
One company. Every representation. One market.
A tokenized stock exists several times over. NVIDIA is NVDAx on xStocks, NVDA on Backpack Securities, and NVDAon on Ondo — different mints, different token programs, different issuer mechanics, different liquidity. Every venue today asks the user to pick a token. Henar asks them to pick a company, then does the comparison work underneath.
What we are building
Henar is not a DEX for tokenized stocks. It is the layer a user goes through before and after the trade:
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| Discover | 1,339 companies and ETFs, 2,212 verified issuer mints, grouped by underlying company |
| Research | Financials, earnings, dividends, filings and news from SEC EDGAR; an earnings and macro calendar |
| Compare | xStocks, Backpack and Ondo side by side — price, spread, liquidity, route, redemption terms, and each issuer's own backing and custody |
| Trade | Market, limit and DCA execution, priced by Henar's own routing engine against Raydium, Orca, Meteora and byreal and ranked beside the aggregators |
| Pre-IPO | Private-market exposure from PreStocks and Tessera, priced against provider marks and Henar's own routes |
| Earn | Yield strategies that turn idle USDC into stock exposure |
| Manage | Holdings, protocol positions and settlement receipts in one place |
The unit of the product is the company, not the mint. Issuer differences are preserved and surfaced where they matter — Henar normalizes the experience without claiming that one issuer's product is legally or technically the same as another's.
Products
- Markets — Company-first discovery across every verified representation, public and private. Overview, a full directory with sector classification, and a calendar of earnings and macro events. Company pages carry financials, earnings, news, dividends, filings, and an Onchain tab comparing every issuer representation. The overview also compares the issuers themselves on volume and liquidity, and each one has a page covering its backing, custody and what can actually move onchain.
- Trade — A ranked quote list for market swaps that puts Henar's own routes in direct competition with the aggregators, plus yield-bearing limit orders and scheduled DCA purchases. Each quote carries its venue, its net output after fees, and whether it can actually be executed.
- Earn — A featured USDC strategy that turns yield into stock exposure, plus a directory of verified stock pools across Solana lending markets and vaults. Each pool has its own page and ticket; only the featured strategy is wired to the protocol today, and the rest are explicitly marked Coming soon.
- Packs — Buy or earn sealed stock packs with onchain settlement and ORAO randomness.
- Stockfolio — Read wallet holdings, protocol positions, sealed packs, and confirmed opening receipts.
Routing and execution
Henar quotes Solana venues directly rather than reselling an aggregator's answer, and it only executes against liquidity it has re-read from chain.
Venues quoted in-process. Raydium (CLMM and CPMM), Orca Whirlpools, Meteora (DLMM, DAMM v2, DBC) and byreal each have their own adapter that prices against pool state. Jupiter, OpenOcean and a firm-RFQ adapter quote alongside them as competing candidates, so an aggregator wins a trade only when it actually returns more.
Verified liquidity only. The pool registry holds 1,512 catalogued pools (598 Raydium, 473 Meteora, 420 Orca, 21 byreal). 700 are ONCHAIN_VERIFIED in the committed snapshot, and the pass runs again on every deploy (prebuild), so the live count is whatever chain agreed with at build time. Verified means the pool account and both mint accounts were re-read from chain and the pair the pool actually trades was decoded from its own layout and matched against the pair the registry claims. A pool whose layout cannot be decoded stays DISCOVERED and cannot back a Henar-native trade. src/data/router/mints.json carries 2,369 verified mint records, each with the decimals, token program, Token-2022 extensions and the slot the facts were read at. Nothing is inferred or defaulted; a mint with missing facts stays unverified and is not routable.
Route construction. Beyond single-venue quotes the engine builds two further shapes, each reported with its own measured improvement:
- Splits across at most two legs, allocated by marginal output and then refined on the boundary, so a size that moves one pool's price can take liquidity from two.
- Two-leg paths through an intermediate asset, where the second hop is sized on the first hop's guaranteed floor rather than its expected output. Intermediates are not configured by hand: 157 candidates were probed with a $10,000 round trip and the 40 that lost under 100 bps qualified.
This is the beginning of the README. Read the rest at the original. Read the full README ↗
