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# What specific rules apply to ROYs as bond?

Functionally, the issuance of this ROY works the same way: a private placement for VIP 2 investors, a public introduction lasting up to one month, followed by a secondary market for ROY trading.

Your ROYs will appear in your wallet the same way as before.

Market rules specific to financial instruments are outlined in the AFS “Rule Book,” available on each talent’s profile page.