Stock tokens
xStocks by Backed, Token-2022, issuer powers and 24/7 Pyth prices.
Live, and clear about what is not.
A trade on the degen.zone curve pays about 4.19% all in. About 0.34% of that goes to degen.zone, about 0.84% to Meteora, and the rest, about 3.02% of volume, reaches the protocol. After graduation, at about 80 SOL raised, trading moves to a Meteora DAMM v2 pool that charges 1% regardless of the curve tier. Meteora keeps 20% of that, and the rest is split by liquidity share between the protocol's locked position and degen.zone's, so about 0.52% of volume reaches the protocol. The protocol's take per trade falls at graduation. It funds holder payouts in tokenized stocks, protocol-owned liquidity, a staking reserve and operations, in a fixed ratio the treasury program enforces. Staking itself is planned, phase 2: the allocation is set aside, but no staking program is deployed and nothing accepts a deposit. Values that have not been read from the chain render as a dash with the reason beside them.
What an xStock is
The stocks the protocol pays are xStocks, issued by Backed Finance on Solana: SPYx, NVDAx, TSLAx, GOOGLx. Each tracks a listed share or ETF one-to-one and is backed by the underlying held by a custodian. It is a tokenized exposure under the issuer's terms, not a share in a brokerage account; it carries no vote and dividends are handled as the issuer specifies.
The mint addresses
Every stock the protocol can pay out, with its mint address. Check a payout against these: a token that arrives in your wallet is one of exactly these four mints, and anything else did not come from this protocol.
They are read from the same configuration the keeper buys against, so this list cannot drift from what the protocol actually pays.
Token-2022 and what that means for you
- xStocks are Token-2022 mints. Your token account for each stock is 179 bytes; the program creates it on your first claim and you pay its rent once.
- Every xStock carries a permanent delegate held by the issuer and a transfer hook that is currently disabled. The distributor accepts the disabled hook and refuses any mint with an active hook or a transfer fee.
- The permanent delegate means the issuer can move or freeze balances under its terms. That is an accepted issuer risk and it is observable: every sweep reports the vault balance it found.
- Flux Vault is independent of Backed and claims no partnership or endorsement.
Prices, around the clock
Every buy is guarded by two Pyth feeds: SOL/USD and the xStock’s own feed (for example Crypto.SPYX/USD), which prices the token itself around the clock rather than the underlying during market hours. The guard requires fully verified updates no older than 300 seconds with a confidence interval under 2% of the price, and refuses a route that delivers less than the oracle implies, minus a per-stock slippage cap.
Prices on this site come from the same feeds, read once for the whole basket so it is valued at a single instant. The site is displaying rather than trading, so it accepts an update up to 15 minutes old against the program’s 300 seconds, with the same 2% confidence limit. A price past either bound is dropped, and the value that depends on it shows as unavailable.
The allowlist
A stock can be paid out only if the treasury authority has allowlisted it with a feed and a slippage cap, and the distributor authority has added it as a reward mint after inspecting its extensions. Adding a stock is gated on verified two-way depth at size, because every stock in a basket is a stock the keeper must be able to buy and, in a pool, sell.
Primary sources
Provider and issuer documentation. Addresses are verified on chain again before activation.