> ## Documentation Index
> Fetch the complete documentation index at: https://docs.sisera.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# PreStocks Private Markets (Pre-IPO)

> Permissionless pre-IPO exposure to OpenAI, Anthropic, SpaceX, Neuralink, Kalshi, Anduril, Figure AI, and Polymarket on Solana.

**PreStocks** is Sisera's dedicated pre-IPO private markets layer (`GET /v1/private-markets` and `/private-markets` in the terminal). It brings high-growth private companies into the exact same intelligence, portfolio, and execution workflow as public equities.

***

## Supported Pre-IPO Universe

Every supported PreStocks asset on Solana sits alongside public equities in the catalog with its verified SPL mint, live token price, issuer valuation mark, and implied valuation:

<CardGroup cols={2}>
  <Card title="Frontier AI & Compute" icon="microchip-ai">
    **OpenAI**, **Anthropic**, **Figure AI**, and leading private AI infrastructure companies tracked against their latest primary funding rounds and secondary tender marks.
  </Card>

  <Card title="Aerospace, Defense & DeepTech" icon="shuttle-space">
    **SpaceX**, **Anduril**, and **Neuralink** with real-time defense contract intelligence, regulatory event tracking, and valuation comparison.
  </Card>

  <Card title="Financial & Prediction Infrastructure" icon="scale-balanced">
    **Kalshi** and **Polymarket** tracked alongside macro regulatory developments, volume milestones, and private-market funding events.
  </Card>

  <Card title="Unified Portfolio Integration" icon="briefcase">
    PreStocks positions flow directly into Sisera's unified ledger, stress-test scenarios (`Private Mark -20% Reset`), and duplicate economic exposure checks.
  </Card>
</CardGroup>

***

## Valuation Context: Implied vs. Issuer Mark

Unlike public equities with continuous exchange ticks, private companies are benchmarked against their **Issuer Mark** (the latest verified funding round or secondary tender valuation). Sisera derives and tracks:

* **Live Token Price:** Current Solana market price for the PreStocks token.
* **Issuer Mark Price & Valuation:** The reference share price and total enterprise valuation from the company's latest verified private mark.
* **Implied Valuation:** The market capitalization implied by the live Solana token price relative to the issuer mark.
* **Gap to Mark (`Premium / Discount %`):**
  $\text{Gap to Mark (\%)} = \frac{\text{Implied Valuation} - \text{Issuer Mark Valuation}}{\text{Issuer Mark Valuation}} \times 100$

***

## Multi-Factor Private Market Rankings

Through `GET /v1/rankings/private`, operators can rank and filter all PreStocks markets across seven institutional dimensions:

| Ranking Mode | Description |
| - | - |
| `gap_to_mark` | Ranks private markets by absolute dislocation from their verified issuer valuation mark. |
| `deepest_discount` | Surfaces pre-IPO tokens trading at the largest discount relative to their latest private round. |
| `highest_premium` | Surfaces pre-IPO tokens commanding the highest secondary market premium. |
| `liquidity` | Ranks by executable onchain pool liquidity and lowest price impact. |
| `momentum` | Ranks by multi-timeframe price and volume acceleration. |
| `news_intensity` | Ranks by the volume and severity of corroborated fundraising, M\&A, executive, or regulatory events. |
| `portfolio_fit` | Scores each PreStocks market against your **current portfolio**, penalizing sector over-concentration and rewarding diversification. |

***

## Executing & Automating PreStocks

You can trade any PreStocks market directly from the ranking table or detail view:

1. **Direct Swap Execution:** Route paper or live Solana orders via Jupiter (`POST /v1/solana/orders/prepare` and `POST /v1/solana/orders/:id/execute`) with pre-trade risk verification.
2. **Conditional Policy Automation:** Ask Sisera AI to compile a valuation-gated policy, for example:
   > *"Buy $2,000 of OpenAI if the premium to mark falls below 3%, pool liquidity stays above $50,000, and no high-severity negative regulatory event is active."*


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