Val

xNasdaq? Soon. The xStocks framework will power a new gateway connecting @Nasdaq’s tokenized equity markets with blockchain networks. TradFi isn’t so traditional anymore.

🏦⛓️ @xStocksFi assets deposited into DeFi reach ~$20M, up ~100% in the past quarter. @kamino @orca_so @Uniswap 🤝 productive RWAs

Vetting issuers to trade tokenized stocks on DEXs should not end at just looking at the liquidities. What you should do instead is to check the mechanism by which they operate. I was on Jupiter to get a fraction of SpaceX and I saw the liquidity gaps amongst the three issuers - @Backpack, @OndoFinance, and @xStocksFi. Backpack had close to a million dollars in liquidity and Ondo and Xstocks barely had any. Tbh, it is more than that. Slippage is the big catch here. You won’t see it with smaller trades, but become conspicuous with bigger ones. Here is how a SPCX trade of up to $500k looks like on backpack, Ondo and xstocks. image (1) backpack - loss of up to 10k to 20k due to slippage. They use AMM to complete the trades and depending on the available sellers, will determine the price you’ll be buying at. image (2) Ondo - routes trade to Nasdaq and mints the token upon buy, so there is a guaranteed amount that lands in your wallet. image (3) Xstocks - guaranteed fee as well as they really don’t work with the liquidity as shown. An automated bot that has the token executes the trade and prevents very inconsiderate slippages. Read the article below to have a better picture of this.

"You still have news that happens on Saturday and Sunday. You don't see Alphabet shutting down over the weekend." @valgui of @krakenfx, @xStocksFi, tells @JD_Durkin 24/7 trading is "a better representation of what actually happens in the real world," with liquidity and price discovery the next challenge to build out.