Tesla xStock

Tesla xStock (TSLAX) is a tokenized representation of Tesla equity, designed to give non-US users access to exposure to Tesla shares through blockchain infrastructure without going through a traditional broker or brokerage account. Each token is described as backed 1:1 by the underlying Tesla stock and is intended to carry a legal claim to the value of that stock under EU-compliant rules. The project frames itself as a way to remove the borders and intermediaries that have historically kept retail participants outside the US from easily accessing US equity markets.

TSLAX tokens are issued against actual Tesla shares held in custody, maintaining the 1:1 backing ratio described by the project. The token exists across multiple blockchain ecosystems simultaneously, including Ethereum, BNB Chain, Solana, Mantle, and TON, meaning it can be transferred and used within decentralized finance protocols on any of those networks as though it were a native token. No consensus algorithm is recorded for this asset because it is a tokenized instrument that rides on the consensus mechanisms of its host chains rather than operating its own.

The data provided to this site does not include a fee stream, revenue figure, or protocol earnings for TSLAX, so no fee-based analysis can be conducted here. What the data does record is a circulating supply of 196,245 tokens against a market capitalization of 68,735,805 USD at a price of 350.28 USD, with only 36.53 percent of the implied total supply currently in circulation. The ratio of fully diluted valuation to market capitalization stands at 2.737 at this point in time, reflecting the gap between tokens already issued and those that could potentially be issued, which the dilution overhang figure of 173.72 percent also expresses.