A staged path: launch the token, prove the treasury, acquire the first SPVs, stream the first rent, decentralise the levers. Dates are targets, not promises.
Set the legal and technical scaffolding before a single token moves.
$BSTATE goes live with the fee router and USDC bridge wired up from day one. No mock treasury — fees route on the first trade.
The treasury executes its first three SPV purchases against the whitelist. Every position is recorded in the on-chain registry with an audited acquisition receipt.
Rental income from the live SPV book reaches the treasury and is streamed to holders for the first time. Claim flow goes live, signed settlement reports begin.
Token-weighted governance opens for bounded parameters. The whitelist expands and the SPV book diversifies across geographies.
Cross-chain bridges for $BSTATE, deeper liquidity, and a documented path to retiring privileged keys as governance matures.