A token was minted. A market was not opened. · 4 of 4
Chapter 04
Build before any decentralisation event
Imagine a corporate treasury agent on a network like this. It receives dollar balances, holds a board-approved reserve, and may place excess cash into permitted tokenised Treasury exposure. Every one of those verbs is a control, not a feature launch. None of them requires ARC to trade.
If a proof-of-stake transition never comes, the applications still matter. If it comes, they are the reason anyone shows up. The coordination asset is a later question. The operating system is the current one.
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