Stonks have hit on-chain
Powered by @xStocksFi
Here's the full breakdown🧵👇
-> @BackedFi (Builders)
• BackedFi is a Swiss-based startup founded in 2021 that bridges traditional securities and DeFi by issuing tokenized versions of real-world stocks and ETFs on blockchain platforms.
• BackedFi is building xStocks on-chain tokens that represent fully backed U.S. stocks and ETFs.
• Through regulated custody, Chainlink-powered data, and deployment across Solana, Ethereum, and global exchanges like Kraken and Bybit, they’ve created a composable and globally accessible tokenized equity ecosystem.
-> Here’s a clear breakdown of how xStocks work:
1) Real Asset Backing
• For every 1 xStock token, there is 1 real share (or ETF unit) held by a regulated custodian.
• These custodians are located in Switzerland and Jersey, operating under regulatory frameworks.
• Example: 1 AAPLx = 1 real Apple share held in custody.
2) Issuance and Custody
• Issued by Backed Assets (JE) Ltd, a licensed issuer.
• Shares are held in a traditional brokerage account.
• A tokenized representation of those shares is minted as an ERC-20 (Ethereum) or SPL token (Solana).
3) Price Tracking via Oracles
• The market price of the real-world asset (e.g., Apple stock) is streamed on-chain using Chainlink price oracles.
• This ensures that xStocks always reflect the real-time value of the underlying security.
-> How to buy?
• To buy tokenized bonds, you can use a regular wallet, as I mentioned earlier.
• Visit:
• There you can find the contract addresses of each company’s bonds; simply copy the address, paste it into your wallet, and buy.
I've been using @RaydiumProtocol to buy my stonks.
-> What’s the best way to start?
• In my opinion, it depends on your balance.
• If you’re ready to invest at least $1,000, it’s best to divide it evenly for example, 25% into each asset.
• Here’s what I personally hold:
• $TSLAx
• $AAPLx
• $METAx
• $NFLXx
• These are the top assets at the moment in my opinion but build your portfolio as you see fit.
• Use Backpack for example, META stock doesn’t show up in Phantom, but it does in Backpack.
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