xStocks on Hyperliquid marks a pivoting point for tokenised equities:
@HyperliquidX holds the lead in OI (and volume) for perps onchain, with $10.8B, of which ~25% is in stocks.
This is a massive and untapped venue for tokenised stocks: many players tried unsuccessfully to unlock them on HL, mostly because they lacked understanding about how it works, and conviction.
Today
@xStocksFi launched an initial batch of 5 tokens with incredible support shown by major MMs and protocols in the ecosystem.
I’m not just excited for the opportunity traders now have to run basis trade strategies, hold tokenised stocks on their fav platform or the composability unlocked for the ecosystem, but also for myself.
I joined
@BackedFi exactly 1 year ago, 2 months after xStocks launched, with the deployment on Hypercore being my main mandate for expansion. From there things unraveled in many unexpected ways and I was involved in some major successes for xStocks, but I kept nudging Hyperliquid for as long as I can remember.
In person meetings, tens of calls and group chats with potential partners, many discarded approaches and ideas. Nothing for months, then all at once: we found the approach, we secured the right approvals, we involved partners, and we finally shipped.
I am super proud of what our team was able to overcome and what we achieved today: after a year, $650M in AUM, 200k+ unique user and $38.5B in aggregated volume, we finally did it.
HyperxStocksliquid.
xStocks is now live on
@HyperliquidX.
Our first deployment on HyperCore starts with a total of 5 tokenized equities and ETFs, including the leaders in open interest across HIP-3 perps.
24/7 liquidity. Meeting traders where they already are. With more assets to come.