{
  "url": "https://blockindex.ai/coin/mstrx",
  "name": "MicroStrategy xStock",
  "links": {
    "github": null,
    "website": "https://assets.backed.fi/products/microstrategy-xstock",
    "whitepaper": null
  },
  "dScore": 48,
  "market": {
    "priceUsd": 112.72076897287207,
    "marketCapUsd": 67437794.86421591,
    "volume24hUsd": 2503160.71667255,
    "priceChange7dPct": -5.63015305,
    "priceChange24hPct": -4.20974839
  },
  "source": "BlockIndex.AI",
  "supply": {
    "max": null,
    "circulating": 598273.0199476,
    "circulatingPct": null
  },
  "ticker": "MSTRX",
  "founder": "N/A",
  "vcFunded": false,
  "updatedAt": "2026-06-19T06:00:20.600827+00:00",
  "fairLaunch": false,
  "launchYear": 2025,
  "description": "MicroStrategy xStock (MSTRX, also styled MSTRx) is a tokenized stock tracker certificate designed to provide blockchain-native exposure to MicroStrategy Incorporated stock. The product is part of the xStocks ecosystem and is associated with Backed Finance, with Backed Assets (JE) Limited identified as issuer in the supplied source material. Rather than functioning as a native cryptocurrency network, MSTRX is best understood as a tokenized real-world asset product whose value is intended to track the underlying MicroStrategy equity for eligible users.\n\nThe available technical data classifies MSTRX as a token rather than an independent blockchain. The directly surfaced contract is on Solana at XsP7xzNPvEHS1m6qfanPUGjNmdnmsLKEoNAnHjdxxyZ, with sources describing the asset as Solana SPL or Solana Token-2022. Some sources also mention ERC-20 issuance for xStocks products, but no Ethereum contract address was provided in the combined summary. MSTRX does not have its own mining algorithm, validator set, native block production, full-node network, or chain-level consensus mechanism; it relies on parent-chain infrastructure for settlement and transfer.\n\nThe product’s primary use case is tokenized access to MicroStrategy equity through blockchain rails. It is meant to let eligible participants hold and transfer a tokenized tracker certificate tied to MSTR, potentially enabling exchange trading, wallet custody, and broader xStocks ecosystem composability. The verified ecosystem data lists wallet support through Ledger, Electrum, Metamask, and Phantom, along with centralized exchange availability on Kraken, Bybit, Bitget, and Coinbase. The sources also note broader xStocks rollout activity on Solana, with MSTRx included among supported tokenized assets.\n\nMSTRX tokenomics differ from ordinary cryptocurrency issuance because the asset appears to be issuance and redemption driven rather than mined or emitted according to a fixed block reward schedule. CoinMarketCap-reported data in the combined summary showed 197.09K circulating MSTRX and 383.47K total supply, while other sources reported different supply snapshots. Because these values are market-data snapshots, they should be treated as time-sensitive rather than permanent fundamentals. No confirmed premine, public initial percentage, ICO allocation, staking reward, or fixed maximum supply was found.\n\nGovernance and development data remain limited in the supplied summary. MSTRX is associated with Backed Finance and xStocks infrastructure, while the issuer is listed as Backed Assets (JE) Limited, but no MSTRX-specific CEO, DAO, voting mechanism, public treasury, open-source repository, or roadmap was identified. Security data also did not show MSTRX-specific hacks, exploits, chain freezes, or network halts. The main risks described are issuer and custody risk, regulatory eligibility restrictions, underlying equity market exposure, and the normal market risks of trading a tokenized stock tracker certificate.",
  "methodology": "https://blockindex.ai/dscore",
  "classification": {
    "layer": "Layer 2",
    "isToken": true,
    "consensus": "Other",
    "parentChain": "SOL"
  },
  "dScoreComponents": {
    "autonomy": 0,
    "ageHistory": 7,
    "governance": 16,
    "nodeDistribution": 0,
    "initialDistribution": 25
  },
  "decentralizationVerdict": "Moderately Decentralized"
}