Palladium rStockPALLr
PALLr, issued by Step Labs LLC, is a digital token providing tokenized economic exposure to palladium that tracks the price performance of the underlying metal held through a regulated custodian and traded onchain. PALLr provides economic exposure to palladium priced against the LBMA Palladium Price, with holders interacting with real-world metal performance directly onchain. Each token is marketed as backed 1:1 by the underlying held through a regulated custodian, Alpaca Securities LLC. The onchain price may diverge from the traditional reference price, and arbitrage helps realign the two. The issuer markets no commissions on trades. Step Labs LLC, trading as Remora Markets, is a company registered in the Cook Islands (Registration Number LLC15405/2024), and its Terms of Use are governed by the laws of the Cook Islands. The issuer states it is in the process of seeking regulatory authorization and licensing. Tokens are not themselves stocks and do not grant ownership or rights to underlying assets. Offerings are not directed at U.S. persons or any sanctioned or prohibited jurisdiction. Identity verification is conducted via iDenfy UAB. Alpaca Securities LLC acts as Paying Agent Upon Realization Event. Tokens are issued as SPL tokens on Solana and marketed as fully composable across Solana DeFi. Step Labs LLC is the tokenizer, operating minting and burning similarly to stablecoins as the gateway onchain. Alpaca Crypto LLC, a FINCEN-registered MSB (NMLS # 2160858), handles USDC to USD conversion, and the issuer markets instant settlement.