Pair Instruments

When a creator launches a token on PairStreet, they choose a Pair InstrumentPair InstrumentThe financial exposure a Pair Market is paired with, such as Tokyo Residential or Swiss Government Debt. A catalog object with a provider, an eligibility policy and a status.. That choice names a target financial exposure: Tokyo residential property, UK government debt, gold. The instrument is the identity of the Pair. It is not, by itself, a thing a wallet can hold.

Three other objects surround it. The Reference MarketReference MarketThe real-world market a Pair Instrument describes, for example Tokyo residential property. Used for identity and pricing context; not something a wallet holds. is the real-world market the instrument describes. The Pair AssetPair AssetThe transferable onchain asset the implementation acquires and distributes for a Pair Instrument. Holders receive the Pair Asset, not the reference market itself. is the transferable onchain asset the implementation acquires and distributes for it. The ProviderProviderA source of a Pair Instrument behind the common provider interface: an onchain venue, a tokenized-asset issuer, an RFQ desk or a broker route. is the issuer, venue or infrastructure that supplies the Pair Asset and a route into it.

Pair Instrument

The target financial exposure configured for the Pair Market. Stored in pair_instruments with a category, asset type, provider, status and verification level.

Reference Market

The real-world market the instrument describes. It supplies identity and pricing context. A wallet does not hold a reference market.

Pair Asset

The onchain token the Pair Router acquires into the Pair Vault and that holders claim. Defined by a Solana mint, decimals and token program.

Provider

The source of the Pair Asset and its acquisition route: an issuer, an onchain venue, an RFQ desk or a broker. Reached only through the common provider interface.

Holding these apart is what lets PairStreet list a broad catalog today and connect settlement instrument by instrument. The instrument is chosen at launch; the Pair Asset and provider route determine when and how value converts into it.

Tokyo Residential is a Pair Instrument representing the target financial exposure configured for the Pair Market: residential property across Tokyo’s 23 wards. It is listed in the PairStreet Pair Registry today, so creators can pair with it at launch.

Pair Instrument

Tokyo Residential · slug tokyo-residential · symbol TKYRES · category real_estate · asset type housing_index

Reference Market

Tokyo residential property: condominiums and rental housing across the 23 wards. Used for identity and pricing context.

Pair Asset

Assigned with the instrument’s provider route. The registry entry carries verification listed, which means the instrument is listed for pairing and its onchain settlement asset connects when the route activates.

Provider

PairStreet Pair Registry (kind pair_registry). The registry lists the instrument for pairing; a settlement provider attaches through the provider interface.

UK Government Gilts is one of five instruments whose Pair Asset is already an SPL token on Solana with a quoted route. The same four rows now resolve to concrete onchain values.

Pair Instrument

UK Government Gilts · slug uk-gilts · symbol GILTS · category bonds · subcategory Sovereign · asset type sovereign_bond

Reference Market

The UK government gilt market.

Pair Asset

Etherfuse GILTS Stablebond token. Mint GiLTSeSFnNse7xQVYeKdMyckGw66AoRmyggGg1NNd4yr, Token-2022, 6 decimals. Verification issuer_listed: the mint is published by the issuer and routable.

Provider

Etherfuse Stablebonds, reached through the spl-onchain adapter. Route mode ONCHAIN_SWAP, planned against live Jupiter quotes from the settlement asset (USDC).

PairStreet references the issuer’s public token. A listing records where the Pair Asset comes from; it does not represent a commercial agreement with the issuer. Execution of the swap into GILTS activates with Pair Vault custody, described in Pair Vault custody.

Vocabulary for describing a Pair

Each phrase below has one meaning. PairStreet documentation and interfaces do not interchange them.

The catalog makes the distinction visible in its fields. Registry instruments carry priceSource index-reference: a reference value used for identity and display. The five SPL instruments carry priceSource jupiter: the price comes from executable quotes into the Pair Asset itself. When a settlement executes against a Jupiter-sourced route, the engine writes the execution price back to referencePriceUsd, so Pair Value is measured against prices the vault could actually trade at.

The catalog holds 44 instruments across nine populated categories. The category enum also includes countries, crypto and other; those exist as catalog concepts with no instruments listed yet. Availability below distinguishes three states.

• ·Route ready The Pair Asset is a known SPL mint and the router plans an ONCHAIN_SWAP against live Jupiter quotes. Execution activates with Pair Vault custody.
• ·Available Listed for pairing in the PairStreet Pair Registry. Creators can launch Pair Markets with it today; settlement activates when its provider route connects.
• ·Provider unavailable The issuer token is known, and the provider reports it unavailable. Not selectable for new Pair Markets until the status returns to active.

The five route-ready instruments

Brazilian Treasury Bonds (Tesouro) has a known Etherfuse mint and is held at provider_unavailable. Mint addresses and the route behind each are documented in Providers.

Verification records how confident PairStreet is that an instrument’s onchain asset is the genuine issuer asset. It is separate from status: an instrument can be active and listed, or issuer listed and provider unavailable.

A fifth value, dev_mock, marks instruments used only on the development network. Production reads never include them.

Status is the instrument’s operational state. The spl-onchain adapter re-checks it live through getInstrumentStatus; the Pair Router adds a blocker to any acquisition plan whose instrument is not active.

Region and KYC rules live beside the instrument in instrument_eligibility and are evaluated by the Eligibility Engine. Instruments that are not in the catalog can be requested through Pair Requests, which turn unmet demand into a ranked integration list.