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BridgeEveryone1 min read

Seven more stocks on the bridge

Nine tokenized stocks now bridge to X1, each with a daily cap set in shares.

Jack LevinJack Levin · X1 Labs ·

Seven more stocks joined Tesla and NVIDIA on the Warp bridge: the S&P 500 fund (SPY), Meta, Alphabet (GOOGL), AMD, Coinbase, Palantir and SpaceX (SPCX). Nine stocks can now move from Solana to X1.

What it is

Each is a Backed xStock on Solana, held by the bridge and minted one for one on X1 with a .X suffix.

Limits

Each stock has its own limit, set in shares. A single transfer can be at most half the daily cap.

  • SPY: 6.5 per transfer, 13 a day
  • META: 7.5 per transfer, 15 a day
  • GOOGL: 14.5 per transfer, 29 a day
  • AMD: 10 per transfer, 20 a day
  • COIN: 27 per transfer, 54 a day
  • PLTR: 29 per transfer, 58 a day
  • SPCX: 33.5 per transfer, 67 a day

All carry a 0.25% fee.

Why it's good for X1

With an index fund and eight single names, X1 has a small but real stock market. SPY is the one to watch: a single token that tracks the whole US market is the obvious base pair for anyone building savings or portfolio products on X1.

How much has moved

Read from X1 mainnet on 21 October: about 5.3 GOOGL.X, 2.8 SPCX.X, 1.1 COIN.X, 1.0 PLTR.X, 0.37 SPY.X, 0.35 META.X and 0.33 AMD.X. Most of these are test-sized, so markets are very thin and prices can drift from the real stock.

What to watch

The same risks apply to every bridged stock. Backed must hold the shares, the bridge must hold the xStocks, and xStocks are not offered to US persons.

Sources