The companies people most want to own are private, and most people cannot buy them. Unlisted turns trading fees into tokenized pre-IPO exposure from PreStocks and Tessera, and pays it to holders on Solana.
Still private.
The last private valuation of every company holders can receive today, from the company or the press. None of them is listed on a public exchange.
Checked Oct 24, 2026
Anthropic$965BMay 2026, TechCrunch 
OpenAI$852BMar 2026, OpenAI 
Anduril$61BMay 2026, Anduril 
Figure AI$39BSep 2025, Figure 
Kalshi$22BMay 2026, TechCrunch 
Polymarket$15BApr 2026, Bloomberg 
Oura$11BOct 2025, TechCrunch 
Neuralink$9BJun 2025, Neuralink
What Unlisted does.
$UNLISTED
50% of its creator fees buys every live Pre-IPO by weight for $UNLISTED holders, round after round. 50% buys coins launched on Unlisted and burns them.
Launched coins
Anyone can launch a coin and pair it with companies. Each fee claim splits 45% to those companies for its holders, 45% to buy and burn $UNLISTED, 10% to the platform.
Reserved companies
A coin can pair with a company before its token exists. Its share is held in USDC, coin by coin, and spent on the token for that coin’s holders when it goes live. 28 companies are reserved today.
Why onchain.
- Open to any wallet
- Hold $UNLISTED or a coin launched here and you are paid in pre-IPO tokens. No account, no accreditation form, no minimum beyond $20 of the coin.
- Every transaction on record
- Every claim, buy, burn and payout is saved with its signature and listed on the Payouts page with a Solscan link.
- Issuer controls in the open
- What each issuer can still do to its tokens (mint more, freeze an account, pause transfers) is read from chain and shown per token on Research.
- Rules in code
- The fee split, the minimum hold, the impact cap and the transfer fee math are the same numbers on the Docs page and in the engine that runs every 15 minutes.
What it is not.
A pre-IPO token is exposure issued by a third party, today PreStocks and Tessera. It is not a share registered in your name, and it can trade far from the company’s last valuation.
Issuers keep controls over their tokens and have used them: 15 tokens are paused by their issuer right now. Unlisted holds those companies’ shares in USDC until they trade again.
Unlisted Labs is not a broker or an adviser, and nothing on this site is investment advice. The Terms set out the rest.