ClaimTokenized equities on Solana

Not everything called a tokenized stock is a stock.

588 companies on Solana have tokens that are not legally equivalent.

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See the evidence

Four SpaceX tokens trade on Solana. They confer four different legal relationships.

SPCXBackpack Securities

Real shares in regulated custody, portable to a traditional brokerage. A UCC Article 8 security entitlement, in the issuer's own words.

SPCXxBacked, Jersey

A certificate against an offshore issuer, carrying its own Swiss ISIN. Price exposure, not ownership.

tSpaceXTessera

A loan participation right, not equity. In the issuer's own words, holders have no ownership, voting or dividend rights.

SPACEXPreStocks

An SPV interest that expires worthless on 12 March 2027 if it is not swapped, and taxes every transfer 0.5%.

Claim reads all 2,060 of them from the chain and says which is which. Start with SpaceX.

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Not everything called a tokenized stock is a stock.

The same company can have several tokens on Solana, and they do not confer the same rights. One may be a real share you can move to a brokerage. One may be a certificate against an offshore issuer. One may expire worthless on a date nobody told you about.

Try SpaceXAppleNvidiaNetflix

SpaceX · SPCX

underlying security US84615Q1031
These tokens confer materially different legal claims
5 moves to a stronger claim on SpaceX

These are the routes that exist today. If you hold the token on the left, the review page quotes your own size before anything is signed.

Connecting is read-only and costs nothing. Claim never holds a key and never submits a transaction — your wallet does, only if you approve it.

SPCX (A) is both the strongest claim on SpaceX and the one you can buy.

Buy SpaceX with USDC
F
SPACEX
SpaceX PreStocks · PreStocks

An interest in a vehicle that holds the shares. If the company has not consented to the transfer, the claim may not be recognised.

PreANxuXjsy2pvisWWMNB6YaJNzr7681wJJr2rHsfTh
  • An interest in a vehicle that holds the shares. If the company has not consented to the transfer, the claim may not be recognised.
    PreStocks, PreStocks; special purpose vehicles hold the referenced shares · source
  • Must be converted before a deadline or it stops being worth anything.
    SPACEX must be swapped before 11:59pm UTC on 12 March 2027 or, in the issuer's own words, tokens will expire worthless. · source
  • Expires in 144 days. Swap into SPCXx (Xs3oZwbHvqis4NYcf4YKWmEia2eC84wSiVrcYcTqpH8) or another token. Unswapped tokens expire worthless.
    deadline 2027-03-12T23:59:00.000Z · source
  • One key controls everything: minting, freezing, seizing, pausing and the balance display.
    single authority WV9PJN7XTmTLVwbutCLFxp8TyePee6Xq5mRq6Fti5Wc
  • A permanent delegate can move or burn these tokens from any wallet, including yours.
    permanentDelegate = WV9PJN7XTmTLVwbutCLFxp8TyePee6Xq5mRq6Fti5Wc
  • Every transfer is taxed 0.5%, with no cap.
    transferFeeConfig.transferFeeBasisPoints = 50
  • About $1,000 can be sold inside 5% slippage.
    live Jupiter quotes at 2026-09-15T13:51:28.039Z
  • Apps that read the multiplier field naively show 20% of your real balance.
    multiplier 1, effective 5
  • No shareholder rights. You get price exposure, not ownership.
    issuer documentation · source
  • Matches the issuer's canonical mint pattern and carries real issuance machinery.
    carries the full issuance, pause and corporate-action machinery; minted by the issuer's own authority (WV9PJN7XTmTLVwbutCLFxp8TyePee6Xq5mRq6Fti5Wc), verified on chain rather than inferred
How this grade was reached
+4claim structure: spv_interest
+4a deadline destroys the token if missed
+1an authority can seize from any wallet
+2every transfer is taxed
+3one key controls every power over the mint
+2thin exit depth below $10,000
16total · F at 10, D at 7, C at 4, B at 2, otherwise A
C
SPCXx
SpaceX xStock · xStocks (Backed)

A certificate against the issuing entity, not the company. If the issuer fails, your claim is against the issuer.

Xs3oZwbHvqis4NYcf4YKWmEia2eC84wSiVrcYcTqpH8
  • A certificate against the issuing entity, not the company. If the issuer fails, your claim is against the issuer.
    xStocks (Backed), Backed Assets (JE) Limited, Jersey · source
  • A permanent delegate can move or burn these tokens from any wallet, including yours.
    permanentDelegate = 5aMNNLQJwAEeoemTEMkv5NVjqKwvvefRYCQ5Z67HFvEq
  • Redeemable with the issuer, subject to eligibility and minimums.
    Verified from the public API: issuance and redemption enabled with a USD 1,000 minimum on 828 of 832 Solana assets. No ACATS/DTCC path. · source
  • No shareholder rights. You get price exposure, not ownership.
    Price exposure only; tokens do not confer shareholder rights. · source
  • Matches the issuer's canonical mint pattern and carries real issuance machinery.
    carries the full issuance, pause and corporate-action machinery; minted by the issuer's own authority (7pt9tkctJPK7PPNQJ77GKg8ZffSF6QxoMiCFYHxrtaCj), verified on chain rather than inferred
  • About $100,000 can be sold inside 5% slippage. Exiting $1M would cost 46%.
    live Jupiter quotes at 2026-09-15T13:45:25.751Z
How this grade was reached
+3claim structure: securitized_exposure
+1an authority can seize from any wallet
4total · F at 10, D at 7, C at 4, B at 2, otherwise A
C
tSpaceX
T-SpaceX · Tessera

A loan participation right, not equity. You are a creditor of the issuer's lending arrangement, with no ownership, voting or dividend rights in the company.

TSPXcLV76s6V2zDiZQ18kBfcbnjaE2ZzNT3ga2Pd99v
  • A loan participation right, not equity. You are a creditor of the issuer's lending arrangement, with no ownership, voting or dividend rights in the company.
    Tessera, Tessera; the holder is a participant in a lending arrangement, not a shareholder · source
  • No redemption. The open market is the only way out.
    Redeemable only following divestment of the underlying exposure, which the holder cannot initiate. Until then the open market is the only exit. · source
  • Every transfer is taxed 0.2%, with no cap.
    transferFeeConfig.transferFeeBasisPoints = 20
  • No shareholder rights. You get price exposure, not ownership.
    Issuer states holders have no ownership, voting or dividend rights. · source
  • No permanent delegate. The issuer cannot take these tokens out of your wallet.
    no permanentDelegate extension on the mint
How this grade was reached
+4claim structure: loan_participation
+2every transfer is taxed
6total · F at 10, D at 7, C at 4, B at 2, otherwise A
A
SPCX
SpaceX · Backpack Securities

A permanent delegate can move or burn these tokens from any wallet, including yours.

SPCXxcqXj6e5dJDVNovHN8744zkbhM2bYudU45BimGb
  • A permanent delegate can move or burn these tokens from any wallet, including yours.
    permanentDelegate = 2cVYpagTt7ZGc3mmTXBa7fAznUtx5DUu6aCq8uVDaf4a
  • Transferable out to a traditional brokerage as real shares.
    Issuer states on/off-ramping is available between Solana, Backpack Securities and other traditional brokerages. · source
  • Matches the issuer's canonical mint pattern and carries real issuance machinery.
    carries the full issuance, pause and corporate-action machinery; carries the issuer's permanent delegate (2cVYpagTt7ZGc3mmTXBa7fAznUtx5DUu6aCq8uVDaf4a), verified on chain rather than inferred
  • Backed 1:1 by shares in regulated custody; the token wraps a security entitlement.
    Backpack Securities, Backpack Securities (US registered broker-dealer) · source
  • About $100,000 can be sold inside 5% slippage. Exiting $1M would cost 91%.
    live Jupiter quotes at 2026-09-15T13:51:19.877Z
How this grade was reached
+1an authority can seize from any wallet
1total · F at 10, D at 7, C at 4, B at 2, otherwise A
1,138
tokenized equities one key can seize from any wallet
1,880
of 2,053 have no market at all
368
show the wrong balance in apps that read the multiplier naively
10%
of the real balance, in the worst case
Structure descriptions are sourced and linked, not legal or investment advice. Every on-chain field shown here is readable from any public Solana RPC, so you can check all of it yourself rather than taking our word for it.

Indexed universe last rebuilt 33 days ago (2026-09-16 05:45 UTC). Issuer powers and balances may have changed since; rerun npm run scan for current state.