> For the complete documentation index, see [llms.txt](https://docs.feel.cash/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.feel.cash/stocks/stock-pairings.md).

# How stock pairings work

Understand how a coin trades against a tokenized stock, how the pool exchange rate affects its price, and why pairing does not confer share ownership.

A stock-paired coin has a liquidity pool containing **the new coin and a supported tokenized stock**. For example, a coin inspired by the iPod can trade against `AAPLc`, the Apple token selected for that pool on Base.

The stock is the asset on the other side of the pool. The coin has its own identity, supply, community, and market price.

## What connects their prices?

The pool quotes the coin in units of its paired stock token. Its dollar price depends on both that pool exchange rate and the stock token's dollar price:

**Coin price in dollars = stock tokens per coin × stock token price in dollars.**

For an illustrative example, if one coin trades for 0.001 stock tokens and the stock token trades at $200, the coin's implied price is $0.20. If the stock token rises to $220 and the pool exchange rate stays unchanged, the implied price becomes $0.22.

The pool exchange rate also changes as people buy and sell the coin. Those trades can outweigh or reverse the effect of the stock token's price movement. Stock pairing does not guarantee that the coin tracks the company, and it does not make the coin a share in that company.

The tokenized stock is itself an onchain asset with issuer-specific terms. Its price can differ from the reference share price. Consult the asset information for the selected representation.

## Choose a company and a market

1. Choose a company from [Stocks](/stocks/catalog.md), or select a supported stock pairing in the launch form.
2. Review the actual stock token and chain. Apple on Base uses `AAPLc`; Apple on Robinhood Chain uses `AAPL`. These are different assets.
3. Choose the coin's identity and [Trade Feeling](/launch/trade-feeling.md), then review and launch.

Starting from a stock page preselects a compatible Base pairing where available, otherwise Robinhood Chain. A general launch without a stock selection uses its default ETH/WETH pairing. The pairing and chain become fixed when the coin launches.

## Request a pairing on X

Mention `@feeldotcash`, explicitly ask to launch, and describe your pool pairing using the company or stock ticker. Natural wording such as **“pair with”**, **“tie it to the COIN stock”**, or **“use Apple shares as the other side of the pool”** works:

> @feeldotcash launch a coin about a penguin hoarding GPUs. Pair it with NVIDIA on Base.

Naming NVIDIA as the theme alone does not select its stock for the pool. Explicit pairing language makes that choice clear. If you request the stock but omit the chain, the X launcher prefers an available Base pairing, then Robinhood Chain, subject to account eligibility.

[Read the X launch guide and examples](/launch/x-launcher.md).

## Trading and creator fees

For supported trades, Feel.cash handles the route between Cash and the stock-paired coin. You can review the quoted amount, fees, and price impact before execution.

The pool can collect fees in the coin and its paired stock token. In the default Creator Fees mode, Feel.cash handles collection and conversion of the creator's share into USDC on Base, through automatic settlement when conditions allow or an available claim.

With [Holder Stock Rewards](/stocks/holder-stock-rewards.md), the configured holder share is distributed to eligible wallets in the supported stock token, using time-weighted holdings. Pairing a coin with a stock does not by itself enable this mode. [IPOD is an active example](/stocks/holder-stock-rewards.md#showcase-ipod).

[Creator Fees](/economics/creator-fees.md) · [Trading](/use-feel.cash/trading.md) · [How launches work](/launch/how-launches-work.md)