Questions and answers
Ten questions people actually ask, answered in the same words the rest of the site uses. The long form of all of this is in the rulebook and the disclosure.
What is the board?
Lone Star Board is a swap router for Robinhood Chain with a published rulebook. It reads every token it tracks from the chain once an hour, scores it against nine standards, and prints the result. Tokens that pass all nine are on the board. Everything else is off the board and still tradable. The router prepares one transaction to Uniswap's own contracts, which you sign in your own wallet.
What does on the board mean?
It means the token passed every scored standard on the last hourly read from the chain: no mint path, no pause or blacklist, not upgradeable, an honest primary pool, enough liquidity, a float that is not in ten hands, real depth at a real size, at least two weeks of history, and at least twenty distinct buyers in a day. It is a description of nine reads at a moment in time. It is not an endorsement, a rating, or a claim that the token is good.
Does a listing cost anything?
No. There is no listing fee, no venue token and no payment of any kind that puts a token on the board or keeps it there. Nothing is on the board because someone paid. The apply form is free, and all it does is attach a stated team wallet and a stated Texas tie to a token's page as informational lines that are never scored.
What happens when a token fails a standard?
The first hourly read that fails a scored standard puts the token on notice, and it stays on the board for one more read. A second failed read takes it off the board. A later read where all nine pass again restores it. Every notice, delisting and restoration is written to the public log with the standard that failed and its number, and nothing is ever removed from that log.
Can I still trade a token that is off the board?
Yes. The off board lane routes any token that has a pool, and it is one click from the board. Every failed standard is printed in red above the swap button with the read that decided it, so you see the failures before you trade rather than after. The router does not refuse the trade, and the fee is exactly the same.
What is the fee?
The router fee is 0.5 percent of the ETH side of a swap. On a buy it comes out of the ETH you send in, on a sell it comes out of the ETH you get back, and never out of the token side. It is paid inside your own Uniswap Universal Router transaction, straight to the operator's address, in the same block as your trade. The quote shows it before you sign. Uniswap's pool fee and the chain's gas are separate and are not paid to the operator.
How do referrals get paid?
A referrer gets a quarter of the router fee, paid in ETH inside the same transaction as the swap, sent by the router to the referrer's address. Nobody holds it, so earned and paid are the same number and there is nothing to claim. A wallet is bound to the first referrer it connects under, a wallet cannot refer itself, and circular referrals are refused.
What is the Texas Board?
It is a table of tokenized stocks and funds that live in pools on Robinhood Chain, showing the price the chain quotes, the print for the same asset away from the chain, and the gap between them. They are displayed and routed, never listed. They are not scored against the rulebook and can never be on the board, and the issuer named on each row is the party holding the underlying claim.
Are these securities?
This site does not decide that and never says it. It does not call any token a security, and it is not an exchange, a broker or a dealer. The tokenized instruments on the Texas Board are issued by the parties named there, and questions about their legal character are questions for those issuers and for a lawyer, not for a chain read.
Who runs it?
The operator is anonymous today. A Texas entity will be named on the disclosure page before any fee is collected. Until that name is there, treat the operator as unknown and weigh that accordingly. What the software does is checkable without knowing who wrote it: the standards are published, the reads name their sources, and every enforcement action is in the public log.