Who pays EquityLayer.

No compensated relationship exists.

Register as of 2026-08-01. A relationship that ends stays listed with its end date, because a register that drops a relationship when it ends cannot be checked against anything published while it was live.

An amount, not a phrase.

Most comparison sites disclose compensation as “we may receive a commission”. That wording states a connection without stating a sum. Where a payment comes from an issuer, underwriter, or dealer in a security being described, US Securities Act §17(b) asks for the consideration and the amount thereof, and a generic sentence does not supply it.

So a relationship on this site is published with six things, or it is not published at all:

• The counterparty, named.
• What the arrangement is, and whether it pays.
• The amount, stated in full — a rate or a fixed figure, never a phrase.
• The document, section, and date the amount is read from.
• The date the relationship took effect, and the date it ended.
• The routes on which it must be disclosed.

Rates are usually negotiated confidentially and can be changed by the paying side without notice. That makes permission to publish the figure a condition of entering a programme rather than a question asked afterwards: a rate that may not be published cannot be disclosed to the standard above, so the programme is not a candidate.

A rate that changes is amended, never rewritten.

When an amount changes, the new figure is published with its date beside the original, exactly as the claim ledger handles a corrected resolution test. The reason is the same in both places: a number that can be quietly edited after the fact tells a reader nothing about what was true when they read it.

Non-affiliation and compensation are not the same claim.

EquityLayer is independent and not affiliated with Robinhood, Solana, Circle, or Backed. That sentence is about the issuers and infrastructure whose documents the tokenized evidence cards quote. This page is about money: who pays EquityLayer and how much.

The two are kept apart because they can move independently. An issuer whose prospectus is quoted here would never pay for that reading, and a venue that did pay would not thereby become an affiliate. Collapsing them into one line would make both harder to check.

No venue, exchange, broker, or issuer pays EquityLayer for coverage, referral, placement, or links. EquityLayer holds no affiliate, referral, or revenue-share agreement, and no page on this site carries a compensated link.

What this page does not claim.

This page states what is true on 2026-08-01. It makes no commitment about whether EquityLayer takes compensation in future — a promise about the future cannot be checked, which is the opposite of what a disclosure is for. What it does commit to is order: the register changes before the link does, not after.

EquityLayer publishes research and documentary verification. It is not investment advice, and no page here is a recommendation to buy, hold, or sell anything.