🟩 cozwyh // GG🦎 | X 🎒

Stocks private beta is now available to all Backpack VIP users.

xstocks holds 35.6% of the tokenized equity market, $1.6B AUM, 300K holders, listed on binance bybit bitget kraken. on spacex IPO day all four exchanges cancelled their campaigns simultaneously because xstocks couldn't secure enough share allocation. 4x oversubscribed, mass refunds. the bottleneck for tokenized stocks isn't blockchain throughput or liquidity or regulation. it's that you still need a trad-fi counterparty to hand you the shares. backpack delivered $37.5M volume same day because they own the broker-dealer license. xstocks built distribution, backpack built the chokepoint

Update on the SpaceX IPO Subscription Due to xStocks’ inability to deliver the underlying assets, no SpaceX allocations were received. As a result, subscribed users will not receive SpaceX allocations. 100% of subscription funds will be automatically refunded to your original funding account. No action is required. Refund details will be available on the IPO Express page. As a thank you for your patience and support, eligible participants will also receive an additional reward based on a 10% APR over a fixed 4-day period, credited automatically to their accounts. We apologize for the inconvenience and appreciate your understanding. For assistance, please contact Customer Support.

backpack should have died 1000 times. they shouldn’t even exist. they should have been buried by the ftx collapse. but they never stopped & that’s what’s so exciting. nothing brings me more joy than seeing a glass chewer win on solana.