What is the onboarding process for CartaX and how can firms participate?

Certainly. So there are some firms that we think over time will create CartaX trading desks like you look to. But then also it's pretty simple. It's like, it's sign up for brokerage account, start getting access to a subset of our 200 unicorns that are on the Carta platform and start interacting with the software, start buying and selling.

So it's a pretty easy onboarding process. And then the information and disclosures that you get -- that typically aren't associated with trading in the secondary market through the back alley brokers -- are completely available. And that's kind of a big part of the business is that it's not just a technology solution, it's quite a bit of legal innovation as well. And we wanted a go to platform that was issuer approved liquidity, but was also not distracting the issuer from increasing the enterprise value of the business and focusing on building, but at the same time wanting to make sure that the large, serious institutional investors had the right amount of information to transact.

So things that they need to know, like what's the fully diluted share count, what does the prep stack look like, who are the officers and directors , where's the cap position history of the business. All these small kind of things that, or details that, kind of seem like table stake, aren't provided by many of the traditional back alley brokers out there.

Therefore it's kind of the Wild West of secondaries still right now. That's why CartaX is bringing order to kind of this chaotic environment.