Markets

The units

Emerald issues a small number of luxury units. Each one references the aftermarket price of a single, specific item, chosen because it trades often enough to have a real price rather than a sticker price.

We publish the reference, the sources, the update cadence, and the current reserve for every unit on this page. If a number here is wrong, it is wrong in public.

The issued units
Lot 001

$ROLEX

Datejust unit

EMRL-ROLEX-DJ41
ReferenceRolex Datejust 41, Oystersteel, fluted bezel, jubilee bracelet. Unworn to lightly worn secondary condition.
Current reference priceLive oracle price, keeper-fed and hard-bounded on chain.
Last updateLive, rate-limited to every 30 minutes
Price sourcesTrimmed median of publicly observable secondary market listings across major resale venues.
Update cadenceLive, keeper updates within a hard on-chain band.
Circulating supplyRead live from the maker window
Pool depth~$1.5M standing ask at the oracle price
Contract address
Explorer
Lot 002

$LAMBO

Huracán unit

EMRL-LAMBO-HUR
ReferenceLamborghini Huracán, coupe, current-generation drivetrain. Standard specification, sub-delivery mileage secondary condition.
Current reference priceLive oracle price, keeper-fed and hard-bounded on chain.
Last updateLive, rate-limited to every 30 minutes
Price sourcesTrimmed median of publicly observable secondary market listings across major resale venues.
Update cadenceLive, keeper updates within a hard on-chain band.
Circulating supplyRead live from the maker window
Pool depth~$1.8M standing ask at the oracle price
Contract address
Explorer
01

How a unit is priced

A unit's reference is an aggregate, not a single quote. We poll several resale venues, hold a rolling window of observations, and take a trimmed median so that one outlier listing cannot move the mark. A circuit breaker holds the reference steady when a move is too large to trust, and only a permissioned publisher can push an update. The full methodology lives in Docs.

02

How a unit is issued

Units are EmeraldMakerWindow tokens: the market maker lives inside the token. Mint against USDG deposited into the window at the live oracle price; burn to redeem USDG at navPrice. Units also trade on their own Uniswap v4 pool. A holder cannot redeem a unit for the physical object it is named after, because there is no physical object held anywhere.

03

What a unit is not

It is not a claim on a physical object. It is not redeemable. It is not issued by, or connected to, the manufacturer of the referenced item. Being blunt here builds more trust than hedging does.