OpenAI (Republic Pre-IPO)

PREOPAI is a tokenized representation of a pre-IPO position in OpenAI, the artificial-intelligence research company, issued through Republic's tokenized asset platform. It is designed to give holders economic exposure to OpenAI shares before any public listing takes place, a stage of ownership that has historically been accessible only to institutional or accredited investors. The token attempts to address the barrier that ordinary investors face when trying to access private-company equity at an early stage.

The token lives on the Solana blockchain and is categorized as a real-world asset, meaning it is backed by or represents a claim on an off-chain financial instrument — in this case a pre-IPO equity position held through Republic's infrastructure. There is no consensus algorithm or block time associated with the token itself because it is not a native blockchain protocol; settlement and custody of the underlying position are handled through Republic's legal and operational framework rather than on-chain smart-contract logic alone. What the token does on-chain is primarily serve as a transferable record of that off-chain entitlement.

The data stored for this asset records no fee stream, revenue mechanism, or protocol earnings, so there are no fee-based measures — such as fee yield or protocol revenue — available on this site for PREOPAI. The asset's economic return, if any, would derive from movements in the valuation of the underlying OpenAI equity position rather than from any on-chain fee collection. The circulating supply stands at 29,081 tokens at the point-in-time snapshot, all of which are already issued, as the supply-issued figure is 100 percent with zero dilution overhang and an FDV-to-market-cap ratio of exactly 1.0, meaning no additional supply is pending or reserved.