{
  "as_of": "2026-11-03",
  "timezone": "Asia/Shanghai",
  "site_zh": "股票代币化编年史",
  "site_en": "Chronicle of Stock Tokenization",
  "thesis_zh": "OKXICE 要的是与传统 NMS 股票同等的权利；Robinhood Stock Tokens 是泽西债务证券，只给价格敞口。两条路不是同一个产品。",
  "thesis_en": "OKXICE is held to the same rights as traditional NMS stock. Robinhood Stock Tokens are Jersey debt securities that pay only price exposure. They are not the same product.",
  "readings": [
    {
      "id": "tracks",
      "label_zh": "分叉",
      "label_en": "Tracks",
      "display": "2",
      "unit_zh": "条路径",
      "unit_en": "paths",
      "confidence": "已证实",
      "layer": "primary",
      "note_zh": "真权利，与离岸合成。不要把基金、国债代币算成第三条股票赛道。",
      "note_en": "Real rights, and the offshore synthetic. Fund and Treasury tokens are not a third equity track."
    },
    {
      "id": "sec-notices",
      "label_zh": "SEC 名单",
      "label_en": "SEC notice roll",
      "display": "3",
      "unit_zh": "份通知",
      "unit_en": "notices",
      "confidence": "已证实",
      "layer": "primary",
      "note_zh": "TSV LLC、OKXICE、Kephas。页面自述最后审阅 2026-10-26。入表不等于达标。",
      "note_en": "TSV LLC, OKXICE, Kephas. The page says it was last reviewed 2026-10-26. A listing is not compliance."
    },
    {
      "id": "exemption-end",
      "label_zh": "豁免写明的到期",
      "label_en": "Exemption expiry in the order",
      "display": "2031-09-17",
      "unit_zh": "",
      "unit_en": "",
      "confidence": "已证实",
      "layer": "primary",
      "note_zh": "命令文本中的日期。委员会可以提前修改。",
      "note_en": "The date written in the order. The Commission can change it sooner."
    },
    {
      "id": "objections-report",
      "label_zh": "反对家数（已见报道）",
      "label_en": "Objectors in reports",
      "display": "约 38",
      "unit_zh": "家，2026-10-28",
      "unit_en": "issuers, 2026-10-28",
      "confidence": "已证实",
      "layer": "report",
      "note_zh": "报道层高点。10-15 为 9，10-27 约 33，10-28 为 38。均未对照 OKXICE 通知原文。",
      "note_en": "The high point in the press layer. 9 on 10-15, about 33 on 10-27, 38 on 10-28. None checked against the OKXICE notice."
    },
    {
      "id": "objections-50",
      "label_zh": "「约 50 家」",
      "label_en": "The “about 50” claim",
      "display": "未获取",
      "unit_zh": "",
      "unit_en": "",
      "confidence": "未获取",
      "layer": "report",
      "note_zh": "Decrypt 转述 10-30 通知为 50。底稿不采信为已核对数字。本站同样不升格。",
      "note_en": "Decrypt says the 30 October notice listed 50. The research note does not treat that as checked. Neither does this archive."
    },
    {
      "id": "rh-count",
      "label_zh": "RH 注册表规模",
      "label_en": "RH register size",
      "display": "约 203",
      "unit_zh": "只，二次统计",
      "unit_en": "names, secondary count",
      "confidence": "已证实",
      "layer": "report",
      "note_zh": "未经对照发行方注册表逐条核对。",
      "note_en": "Not checked line by line against the issuer’s register."
    },
    {
      "id": "ondo-tvl",
      "label_zh": "Ondo 总锁仓",
      "label_en": "Ondo TVL",
      "display": "约 $1.37B",
      "unit_zh": "官网口径",
      "unit_en": "as stated on the site",
      "confidence": "已证实",
      "layer": "report",
      "note_zh": "研究底稿 2026-11-03 所记官网数字。本站没有复算，也没有改写到构建当日。",
      "note_en": "The website figure recorded in the 2026-11-03 research note. Not recomputed here."
    },
    {
      "id": "ondo-count",
      "label_zh": "Ondo 资产只数",
      "label_en": "Ondo asset count",
      "display": "未获取",
      "unit_zh": "",
      "unit_en": "",
      "confidence": "未获取",
      "layer": "report",
      "note_zh": "底稿 470+ 与文档概述 “100+” 冲突，不取定值。",
      "note_en": "The note’s 470+ conflicts with the docs’ “100+”. No single figure is chosen."
    }
  ],
  "gaps": [
    {"id": "fifty", "text_zh": "发行人反对是否已经到约 50 家。Decrypt 说 10 月 30 日的通知写了 50，本站没有那份通知。", "text_en": "Whether issuer objections reached about 50. Decrypt says the 30 October notice did. This archive does not have it."},
    {"id": "tsv-products", "text_zh": "TSV LLC 与 Kephas / Perpetuals.com 的产品、链和权利文本。", "text_en": "Products, chains, and rights documents for TSV LLC and Kephas / Perpetuals.com."},
    {"id": "rh-lines", "text_zh": "Robinhood 注册表「约 203」对照官网的逐条核对，以及 Stock Tokens 的发行日。", "text_en": "A line-by-line check of the “about 203” Robinhood register, and the Stock Tokens launch date."},
    {"id": "dinari-kid", "text_zh": "Dinari 欧区与美区的权利对账，缺欧区 KID。", "text_en": "Dinari’s European rights beside the U.S. version. The European KID has not been read."},
    {"id": "okxice-open", "text_zh": "OKXICE 在发行人反对之后的可交易符号，以及实际开业日。", "text_en": "OKXICE’s tradable symbols after the objections, and the day it actually opened."},
    {"id": "securitize", "text_zh": "Securitize / Computershare 发行人股票案例的全表，须与基金代币分开。", "text_en": "A full list of Securitize or Computershare issuer-equity cases, kept apart from fund tokens."},
    {"id": "tokenizer", "text_zh": "OKXICE 通知中的 Tokenizer 法律名称。", "text_en": "The legal name of the Tokenizer in the OKXICE notice."},
    {"id": "ondo-count", "text_zh": "Ondo 资产只数。470+ 与文档 “100+” 没有合成一个数。", "text_en": "Ondo’s asset count. 470+ and the docs’ “100+” were not averaged into a figure."},
    {"id": "launch-dates", "text_zh": "xStocks、bStocks、dShares、Opening Bell 的发行日或上线日。", "text_en": "Launch dates for xStocks, bStocks, dShares, and Opening Bell."},
    {"id": "defiant", "text_zh": "The Defiant 关于「反对 OKXICE 的标的仍可在 Robinhood Chain 挂牌」的原文链接。", "text_en": "The Defiant URL for the report that names blocked on OKXICE still trade on Robinhood Chain."},
    {"id": "swarmx-day", "text_zh": "SwarmX 日落的精确公告日期。现在只写约 2026-09-30。", "text_en": "The exact SwarmX sunset notice. The archive only has about 2026-09-30."},
    {"id": "infra-contracts", "text_zh": "Nest、BitGo、Chainlink 在股票代币链路里的合同角色。现在只写到底稿给出的层。", "text_en": "Contract-level roles for Nest, BitGo, and Chainlink. Only the layer named in the research note is on the page."},
    {"id": "okxice-dividend", "text_zh": "OKXICE 路径上现金分红如何交到持有人。", "text_en": "How a cash dividend would reach a holder on the OKXICE path."},
    {"id": "okxice-us", "text_zh": "OKXICE 是否对美国人普遍销售。", "text_en": "Whether OKXICE sells generally to U.S. persons."}
  ]
}