[{"data":1,"prerenderedAt":427},["ShallowReactive",2],{"navigation_docs":3,"-diligence":108,"-diligence-surround":422},[4,9,48,52,57,62,67,72],{"title":5,"path":6,"stem":7,"icon":8},"Company overview","/why-now","1.why-now","i-lucide-building-2",{"title":10,"path":11,"stem":12,"children":13},"Product","/product","2.product",[14,18,23,28,33,38,43],{"title":15,"path":11,"stem":16,"icon":17},"Product & technology","2.product/index","i-lucide-workflow",{"title":19,"path":20,"stem":21,"icon":22},"Issuance Studio","/product/issuance-studio","2.product/1.issuance-studio","i-lucide-layers-3",{"title":24,"path":25,"stem":26,"icon":27},"Steer ALM","/product/alm","2.product/2.alm","i-lucide-chart-no-axes-combined",{"title":29,"path":30,"stem":31,"icon":32},"Steer Network","/product/network","2.product/3.network","i-lucide-network",{"title":34,"path":35,"stem":36,"icon":37},"Steer IDE","/product/ide","2.product/4.ide","i-lucide-code-xml",{"title":39,"path":40,"stem":41,"icon":42},"Steer Prime","/product/prime","2.product/5.prime","i-lucide-briefcase-business",{"title":44,"path":45,"stem":46,"icon":47},"Matador transaction policy","/product/matador","2.product/6.matador","i-lucide-shield-check",{"title":49,"path":50,"stem":51,"icon":27},"Traction","/proof","4.proof",{"title":53,"path":54,"stem":55,"icon":56},"Financials","/financials","5.financials","i-lucide-chart-column-increasing",{"title":58,"path":59,"stem":60,"icon":61},"Commercial engine","/business","6.business","i-lucide-badge-dollar-sign",{"title":63,"path":64,"stem":65,"icon":66},"Team","/team","7.team","i-lucide-users",{"title":68,"path":69,"stem":70,"icon":71},"Financing","/raise","8.raise","i-lucide-milestone",{"title":73,"path":74,"stem":75,"children":76},"Diligence","/diligence","9.diligence",[77,81,85,90,94,99,103],{"title":78,"path":74,"stem":79,"icon":80},"Documents","9.diligence/index","i-lucide-folder-open",{"title":82,"path":83,"stem":84,"icon":17},"Product & technical","/diligence/product-technical","9.diligence/1.product-technical",{"title":86,"path":87,"stem":88,"icon":89},"Commercial & financial","/diligence/commercial-financial","9.diligence/2.commercial-financial","i-lucide-receipt-text",{"title":91,"path":92,"stem":93,"icon":47},"Security & operations","/diligence/security-operations","9.diligence/3.security-operations",{"title":95,"path":96,"stem":97,"icon":98},"Corporate & legal","/diligence/corporate-legal","9.diligence/4.corporate-legal","i-lucide-landmark",{"title":100,"path":101,"stem":102,"icon":27},"Forecast & runway","/diligence/forecast-and-runway","9.diligence/5.forecast-and-runway",{"title":104,"path":105,"stem":106,"icon":107},"Token economics","/diligence/token-economics","9.diligence/6.token-economics","i-lucide-coins",{"id":109,"title":78,"body":110,"description":409,"extension":410,"links":411,"meta":412,"navigation":419,"path":74,"seo":420,"stem":79,"__hash__":421},"docs/9.diligence/index.md",{"type":111,"value":112,"toc":401},"minimark",[113,118,122,191,195,198,338,342,385,388,392,395],[114,115,117],"h2",{"id":116},"start-with-the-investment-case-then-test-it","Start with the investment case, then test it",[119,120,121],"p",{},"The main room presents the investment case. This directory organizes the records an investor would use to test the operating footprint, current programs, economics, technology, security, team, and financing.",[123,124,125,138],"table",{},[126,127,128],"thead",{},[129,130,131,135],"tr",{},[132,133,134],"th",{},"Investor question",[132,136,137],{},"First review",[139,140,141,155,165,177],"tbody",{},[129,142,143,147],{},[144,145,146],"td",{},"What is Steer, who buys it, and why does the chain relationship matter?",[144,148,149,152,153],{},[150,151,5],"a",{"href":6}," and ",[150,154,58],{"href":59},[129,156,157,160],{},[144,158,159],{},"What is operating today, and what does the footprint prove?",[144,161,162],{},[150,163,164],{"href":50},"Traction and current programs",[129,166,167,170],{},[144,168,169],{},"How does the product work, and where does Matador fit?",[144,171,172,152,175],{},[150,173,174],{"href":11},"Product and technology",[150,176,44],{"href":45},[129,178,179,182],{},[144,180,181],{},"What are the financial profile, round, and principal diligence areas?",[144,183,184,187,188,190],{},[150,185,186],{"href":54},"Financial overview",", ",[150,189,68],{"href":69},", and the directory below",[114,192,194],{"id":193},"diligence-directory","Diligence directory",[119,196,197],{},"Sanitized summaries and public documents open directly from this room. Customer, financial, capitalization, personnel, security, and legal records are provided to qualified investors through controlled access.",[123,199,200,213],{},[126,201,202],{},[129,203,204,207,210],{},[132,205,206],{},"Folder",[132,208,209],{},"Included materials",[132,211,212],{},"Access",[139,214,215,232,247,262,277,292,307,322],{},[129,216,217,223,226],{},[144,218,219],{},[220,221,222],"strong",{},"01 · Company & corporate",[144,224,225],{},"Entity structure, incorporation records, governance, ownership, IP, and intercompany materials",[144,227,228,231],{},[150,229,230],{"href":96},"Open summary"," · detailed records under NDA",[129,233,234,239,242],{},[144,235,236],{},[220,237,238],{},"02 · Financials & tax",[144,240,241],{},"Historical performance, monthly statements, revenue bridge, cash, runway, forecast, and tax records",[144,243,244,231],{},[150,245,246],{"href":54},"Open financial overview",[129,248,249,254,257],{},[144,250,251],{},[220,252,253],{},"03 · Commercial & customers",[144,255,256],{},"Pricing, customer and contract register, program status, pipeline, invoices, collections, and concentration",[144,258,259,231],{},[150,260,261],{"href":87},"Open commercial materials",[129,263,264,269,272],{},[144,265,266],{},[220,267,268],{},"04 · Product & technical",[144,270,271],{},"Architecture, product surfaces, release status, chain and integration coverage, deployment records, and Matador",[144,273,274],{},[150,275,276],{"href":83},"Open technical materials",[129,278,279,284,287],{},[144,280,281],{},[220,282,283],{},"05 · Security & operations",[144,285,286],{},"Independent reviews, smart-contract controls, infrastructure controls, monitoring, incidents, and continuity",[144,288,289],{},[150,290,291],{"href":92},"Open security materials",[129,293,294,299,302],{},[144,295,296],{},[220,297,298],{},"06 · Team & people",[144,300,301],{},"Leadership, organization, current roster, employment, contractor, advisor, and IP coverage",[144,303,304,231],{},[150,305,306],{"href":64},"Open team overview",[129,308,309,314,317],{},[144,310,311],{},[220,312,313],{},"07 · Financing & capitalization",[144,315,316],{},"Current $3M SAFE and token warrant, use of proceeds, capitalization, prior financings, investor rights, and approvals",[144,318,319,231],{},[150,320,321],{"href":69},"Open financing overview",[129,323,324,329,332],{},[144,325,326],{},[220,327,328],{},"08 · Token & regulatory",[144,330,331],{},"Token design, allocation and vesting, governance, product-by-product legal review, and jurisdictional materials",[144,333,334,337],{},[150,335,336],{"href":105},"Open token summary"," · legal analysis under controlled access",[114,339,341],{"id":340},"access-levels","Access levels",[123,343,344,353],{},[126,345,346],{},[129,347,348,350],{},[132,349,212],{},[132,351,352],{},"What it contains",[139,354,355,365,375],{},[129,356,357,362],{},[144,358,359],{},[220,360,361],{},"Link access",[144,363,364],{},"Approved company narrative, sanitized metric summaries, public technical sources, public audit links, leadership, and financing overview",[129,366,367,372],{},[144,368,369],{},[220,370,371],{},"NDA",[144,373,374],{},"Financial statements and models, customer and program records, detailed deployment evidence, capitalization, organization records, and non-public operating materials",[129,376,377,382],{},[144,378,379],{},[220,380,381],{},"Restricted",[144,383,384],{},"Personal information, bank and wallet details, privileged legal analysis, raw security or incident material, and other need-to-know records",[119,386,387],{},"Request NDA or restricted materials through your Steer contact. Access is granted by workstream so reviewers receive the records needed for their diligence without exposing unrelated sensitive information.",[114,389,391],{"id":390},"reporting-basis","Reporting basis",[119,393,394],{},"Every dated metric in the main room identifies its period or snapshot. Public and third-party records are linked where available. Detailed company data remains subject to the relevant accounting, legal, technical, or security review described in its folder.",[119,396,397],{},[150,398,400],{"href":399},"/","Return to the investor overview →",{"title":402,"searchDepth":403,"depth":403,"links":404},"",2,[405,406,407,408],{"id":116,"depth":403,"text":117},{"id":193,"depth":403,"text":194},{"id":340,"depth":403,"text":341},{"id":390,"depth":403,"text":391},"Investor diligence materials organized by company, financial, commercial, technical, security, team, financing, and regulatory workstream","md",null,{"updated":413,"confidentiality":414,"tags":415},"2026-07-10","internal",[416,417,418],"diligence","documents","investor-room",{"title":78,"icon":80},{"title":78,"description":409},"5T709q-Ya2Qy3Eez5lcHvdz8t4m_3lRgDmNC2Ilu5zc",[423,425],{"title":68,"path":69,"stem":70,"description":424,"icon":71,"children":-1},"Round size, use of proceeds, execution plan, and financing materials for Steer’s growth round",{"title":82,"path":83,"stem":84,"description":426,"icon":17,"children":-1},"Product surfaces, architecture, current programs, deployment coverage, and Matador technical materials",1784300473502]