QQQ

Event classification tree

1. 1
   Is the token contract canonical RHJ?

   yesCanonical RHJ Stock Token

   Contract matches the RHJ registry. Economic exposure only — not shareholder rights. AP-only primary (BBVI at issuance).

2. 2
   Did effective Stock Token supply increase?

   yesPossible new collateral demand

   Effective Stock Token supply rose. Strongest mechanical cash bridge is Δ underlying collateral ≈ Δ effective supply — a secondary DEX buy does not automatically buy cash shares.

3. 3
   Did perp OI increase materially?

   noVolume may be churn

   Perp OI did not increase materially. Trades can turn over without adding net risk that would need an external cash hedge.

4. 4
   Is funding extreme or persistent?

   noFunding not extreme

   Venue funding is not extreme or persistently one-sided on this window.

5. 5
   Can a cash / extended-hours hedge execute now?

   noCash closed — synthetic 24/7 vs listed dark

   Overnight/weekend: 24/7 perps and tokens keep trading while cash is closed. Inventory can gap into Monday.

6. 6
   Did listed stock flow move after the on-chain event?

   unknownPost-event listed flow not tracked

   The monitor does not yet track listed prints after an on-chain event. Do not read the last cash print as confirmation of hedge flow; session state is step 5.