MicroStrategy (Ondo Tokenized Stock)

MSTRON is a tokenized representation of MicroStrategy common stock, created by Ondo Finance under its Global Markets product. It is designed to give non-US retail and institutional users economic exposure similar to holding the traditional MSTR equity, including the reinvestment of any dividends. The product addresses the difficulty that investors outside the United States face in accessing US-listed equities through conventional brokerage channels.

Ondo issues MSTRON tokens that are backed by actual MSTR shares held through traditional market infrastructure, allowing eligible users to mint or redeem tokens against real exchange liquidity 24 hours a day, five days a week. The token exists across multiple blockchain environments, including Ethereum, Solana, BNB Chain, and HyperEVM, meaning it can be held and transferred on-chain while the underlying share exposure is maintained off-chain. No consensus algorithm or block time is specific to MSTRON itself; it inherits the settlement mechanics of whichever host chain it is used on.

The data provided does not include a fee stream for MSTRON, so no fee source, fee recipient, or protocol revenue figure can be described here, and fee-based measures that this site might normally display are not applicable. What the data does show is a circulating supply of 190,824 tokens at the point-in-time snapshot, all of which have already been issued, leaving a dilution overhang of 0.0 percent and an fdv-to-market-cap ratio of exactly 1.0, meaning fully diluted value and market capitalization are identical at the time of the snapshot. A small supply-pending figure of 0.107089 percent exists at the same point-in-time, indicating a marginal quantity of tokens in the process of being minted or redeemed.