Micron Technology (Ondo Tokenized Stock)

MUON is a tokenized representation of Micron Technology common stock, issued by Ondo Finance under its Global Markets product. It is designed to give non-US retail and institutional users economic exposure similar to owning shares of Micron (ticker: MU), including the reinvestment of any dividends, without needing access to a traditional brokerage. The product addresses the difficulty many investors outside the United States face when trying to access US-listed equities.

MUON tokens are minted and redeemed through Ondo's platform, which connects to traditional exchange liquidity to back each token with the corresponding equity exposure. The token exists across several blockchain ecosystems simultaneously, including Ethereum, Solana, BNB Chain, and HyperEVM, allowing it to be held and transferred on-chain. Minting and redemption are available 24 hours a day, five days a week, aligned with US equity market trading days, and additional eligibility restrictions apply to users.

The data stored on this site does not include a fee stream for MUON, so no fee source, fee recipient, or protocol revenue figure can be described here. The circulating supply stands at approximately 38,918 tokens at the time of this snapshot, and because the fully diluted value equals the market capitalisation — reflecting a ratio of 1.0 — all tokens that will ever exist are already in circulation, with zero dilution overhang and zero supply pending. What the protocol charges users for minting or redemption, if anything, is not captured in the figures provided.