On June 30, they reported that it was already possible from Jupiter, a decentralized exchange of cryptocurrency native to Solana. Purchase of tokenized stocks It replicates the value of real companies such as Google, Apple, Nvida, and Meta. On the same day, Bybit, one of the world’s biggest exchanges, expanded its offer, including its kind of assets issued in Solana.
The tokenized action is Digital representation of stocks of companies trading in the stock marketwas issued as an SPL token on the Solana network. They are not about stock market behavior, even if they are fixed at the actual price of stocks.
The advantage of these actions is that they are traded like cryptocurrencies and tokens in decentralized exchanges (DEXs), but do not retain the same liquidity as original actions that are accessible from blockers and traditional markets.
Transactions for tokenized actions are permitted Platforms like Xstocks.
The first thing is to get into Xstocks. The platform then leads to a variety of walks and services that allow access to tokenized assets. You can connect directly to Dex as Bybit, Kraken, The Wallet Phantom, or Jupiter or Raydium as you can see in the image below.
In this tutorial, we start by downloading this application as the wallet phantom is used from the Chrome extension ( Hot wallet Desktop version and App If you don’t have one (mobile for iOS and Android).
Secondly, in addition to the amount you use to buy tokenized stocks, you will also send Sol (native Solana currency) to pay the network rate. At the time of this article, according to Solscan, the average committee for Solana is 0.00002477 Sol. It currently amounts to about $0.0036.
DEXs such as Jupiter and Raydium can use cryptocurrencies with liquidity availability on the platform, from Solana (Sun) and Stablocoins to Fartcoin to acquire inventory.
The third step is Connect your wallet phantom to the list platform Provided by XStocks. For example, Jupiter, where you can purchase stock-based tokens. From the Wallet Phantom’s internal application search engine, you can write “Jupier” as shown in the following image.
Clicking “Jupiter” in the Phantom Search Engine will display the Dex interface on the left side of the screen (if you are performing this step from your desk browser). Clicking “Connect” to connect your phantom wallet is the next step (green button at the lower limit of the previous image).
Next, focus on Jupiter’s interface (left of the screen). Dex (Red Box)’s internal search engine allows you to find tokens issued by Xstocks, such as Googlex.
Once the token is selected, access the asset’s interface (previous image). There, we will introduce the amount of changes to the token Googlex Use the Jupiter replacement buttonand check the replacement first on the platform, then on your phantom But not before checking the transactional application. Once you purchase, the token will be reflected in your Phantom account balance and can be saved, sent or used in other Solana apps.
That’s also possible Copy the contract address for each of those Xstocks tokens From their page, paste them into a Dex search engine (like Jupiter) to see the correct token.
In previous images, in Googlex, AMZNX and AAPLX represent tokenized stocks in companies such as Google, Amazon, and Apple in Solana. These Xstocks tokens are not official, and their issuance depends on the behavior of the replicating company. This dispute is currently being observed between the Robinhood Financial Platform, which issues stocks in companies such as Openai, and this last company that is unaware of their actions.
Tokenized actions in Solana provided by Xstocks offer a variety of use cases that combine traditional funds with digital assets.
for example, They can trade 24/7 with assets that replicate the company’s companyyou can buy and sell anytime. This is not possible because it works over time in traditional markets.
Additionally, tokenized actions promote self-occustoms in wallets such as Phantom, and provide direct control to the user.
Thus, investors and users can generally participate in the global market and manage derivatives of assets that historically belong to traditional finances, but are now finding “aftershocks” in decentralized finances (DEFI).
