Privacy needs
precise boundaries.

The interval before execution.

Cloaq organizes tokenised stock orders into batches on Robinhood Chain. Each order is committed, opened during a reveal period, and matched against opposing interest using an external market reference.

Internal matches use no liquidity curve. An order fills only when opposing eligible interest exists.

Lift the curtain, one step at a time.

The vault holds settlement assets and supported stock tokens between order phases.

A shared reference. A conditional fill.

The protocol reads an external market price and matches eligible buyers and sellers within a batch. It does not imply a guaranteed fill. Excess or unmatched size returns to the available balance.

Price sampling, deviation limits, allocation rules, rounding, and fees are enforced by the protocol before settlement.

Sealed does not mean invisible forever.

Commitments conceal order details during collection. Revealed orders become public before settlement. Wallet deposits and onchain activity may remain observable throughout.

An external reference pool can move or be manipulated. Token issuers may retain pause or address restriction controls. Smart contracts introduce implementation and custody risks.

Order lifecycle.

Select a market, choose a side and size, then review the reference before submitting. A potential fill depends on eligible opposing orders. Privacy ends when the batch enters reveal; wallet activity remains observable.

Price sampling, deviation limits, allocation rules, rounding, and fees are defined by the protocol rules.