Grants
Stock that vests. From anyone, to anyone.
Since the first stock exchange, a vesting grant was for employees of public companies with brokerage accounts. Now the stock is a token: any organisation can grant any listed company to anyone with a wallet, on a schedule the program keeps.
How a grant works
The payer buys the stock at grant time; it sits in an escrow the grant itself owns. The recipient can see it. The payer cannot spend it.
Nothing vests before the cliff; after it, raw units release linearly over the duration, or all at once when there is no duration.
Anyone may call vest; the caller is repaid the receipt’s rent and a fixed tip from the grant’s float. Every vest writes a receipt.
What has not accrued returns to the payer; what had accrued stays claimable by the recipient, receipt and all.
Vesting is computed on raw units, so a dividend reinvested through the multiplier while the stock waits goes to whoever the units vest to.
What the program enforces
open_grant payer · creates the Grant and its escrow; the recipient's own account too route Jupiter, USDC → the asset, destination = the escrow seal_grant payer, same transaction · escrow ≥ the payer's own minimum; total fixed; float deposited; receipt vest anyone · releasable = total × clamp((now − start − cliff) / duration) − released; receipt; tip repaid revoke_grant payer · unvested back; accrued stays claimable; state Revoked close_grant payer · completed or revoked, escrow empty; rent and float back
The honest sentence
Scrip holds an asset only in an escrow the payer created, that the recipient can see, and that the payer cannot spend. A grant is that escrow with a schedule. Nobody has reviewed the legal shape of a vesting grant of securities-backed tokens executed by third-party keepers; the security page says so.