The agreement,
in full.

A fully funded, fixed-quantity exchange of Stock Tokens for USDG at or after a future date. Read the constraints before approving tokens.

1. Create and fund

A seller selects an allowlisted stock asset, a raw token quantity, the total USDG payment, an acceptance deadline and a later settlement timestamp. The stock is transferred into escrow immediately. The buyer may be restricted to a specific address or left open to the first eligible buyer. A seller cannot accept their own offer.

These are raw ERC20 quantities, not a promise to deliver a fixed number of underlying shares. USDG is a token payment amount, not a guaranteed dollar redemption value.

2. Accept or cancel

The buyer accepts before the acceptance deadline by transferring the complete USDG payment into escrow. The buyer address is fixed at acceptance. The seller may cancel any unaccepted offer. After its acceptance deadline, anyone may trigger a refund, but the stock only goes back to the fixed seller.

After acceptance, neither side can unilaterally cancel. There is no transfer of positions, margin loan, interest payment or early withdrawal.

3. Settle

At or after the settlement timestamp, anyone may call settle and pay gas. The contract sends the exact raw stock quantity to the buyer and the exact USDG amount to the seller. Both transfers succeed atomically or the entire transaction reverts. There is no automatic execution just because time passes, and no guaranteed settlement latency.

Fees and control

Accord charges no protocol fee. Token approvals, creation, acceptance, refunds and settlement cost network gas. There is no owner, admin, upgrade mechanism, asset rescue function, oracle, keeper or price adjustment. The allowlist and USDG address are immutable at deployment. Accidentally sent tokens cannot be rescued.

Important risks

The agreed price can become unfavorable. Both sides lock capital and forgo alternative uses until settlement.
Stock Tokens are issuer debt securities providing economic exposure, not legal ownership of the underlying stock. Eligibility and geographic restrictions apply.
Issuer freezes, pause/transfer rules or upgrade changes can prevent deposit, refund or settlement indefinitely. No emergency bypass is provided.
Corporate actions may change the token’s UI multiplier while raw balances stay fixed; the economic share exposure can change over the agreement.
USDG may depeg or face issuer/transfer restrictions. Funding does not eliminate stablecoin or issuer risk.
The contracts are unaudited. Testing is not an audit. Smart contract, wallet and chain risks can cause loss.
The public RPC may rate limit or lag. An app error is not proof that a transaction failed; check its receipt before retrying.
Only exact-transfer ERC20 assets are supported. Fee-on-transfer tokens are rejected. A future token implementation change may block execution.