{
  "url": "https://blockindex.ai/coin/qqqx",
  "name": "Nasdaq xStock",
  "links": {
    "github": null,
    "website": "https://assets.backed.fi/products/nasdaq-xstock",
    "whitepaper": "https://docs.xstocks.fi/docs"
  },
  "dScore": 23,
  "market": {
    "priceUsd": 735.778227557219,
    "marketCapUsd": 154329201.05808747,
    "volume24hUsd": 3153588.65925624,
    "priceChange7dPct": 2.63275293,
    "priceChange24hPct": 0.56284218
  },
  "source": "BlockIndex.AI",
  "supply": {
    "max": null,
    "circulating": 209749.61649852,
    "circulatingPct": null
  },
  "ticker": "QQQX",
  "founder": "N/A",
  "vcFunded": false,
  "updatedAt": "2026-06-19T06:00:22.398689+00:00",
  "fairLaunch": false,
  "launchYear": 2025,
  "description": "Nasdaq xStock (QQQX / QQQx) is a tokenized ETF tracker certificate from the xStocks and Backed ecosystem. It is designed to track the price of the Invesco QQQ Trust and provide eligible crypto users with blockchain-transferable exposure to that ETF. The product is not a standalone blockchain and does not operate its own validator, miner, or node network. Instead, QQQx is issued as a real-world asset token through Backed’s legal and custody structure, with Backed Assets (JE) Limited listed as issuer and Backed Finance AG listed as tokenizer. The product documentation describes xStocks as tokenized representations of public equities and ETFs that are fully collateralized 1:1 by the corresponding underlying asset held with regulated custody arrangements.\n\nTechnically, QQQx is a multi-chain tokenized asset rather than an independent protocol. The validated sources identify QQQx as available on Solana using the SPL token standard and on Ethereum or EVM-compatible networks using ERC-20. The confirmed Solana token address is Xs8S1uUs1zvS2p7iwtsG3b6fkhpvmwz4GYU3gWAmWHZ. Because QQQx relies on its parent chains for settlement and transfer finality, mining algorithm, block timing, total blocks, chain size, native TPS, and node-count fields are not meaningful at the QQQx project level. xStocks documentation emphasizes product features such as fractional ownership, self-custody, DeFi composability, bridge support, proof-of-reserves access, and a rebasing mechanism for corporate actions.\n\nThe primary use case for QQQx is tokenized market access: users can hold and transfer blockchain-based exposure to the Invesco QQQ Trust ETF while remaining inside supported crypto wallets, exchanges, and DeFi venues. The broader xStocks product line is positioned around 24/7 availability, interoperability across centralized and decentralized venues, and standardized tokenized equity integrations. Verified wallet support includes Ledger, Electrum, Metamask, and Phantom, while verified centralized exchange support includes Kraken, Bybit, Bitget, and Coinbase. The available master summary does not provide confirmed decentralized exchange listings or trading pairs.\n\nQQQx’s economics differ from native cryptocurrencies. There is no mining emission schedule, staking reward design, or proof-of-work distribution model. BitMart listing data states total supply and circulating supply as 32,201.99 QQQX, implying 100% of the listed supply was circulating in that source. The product is described as 1:1 collateralized by underlying ETF exposure, with Backed listing issuance and redemption fees of up to 0.50% and an annual management fee of 0.20%. For distribution scoring, the most defensible interpretation is that QQQx is 100% issuer-minted rather than fairly mined, since it is a tokenized certificate product.\n\nGovernance is issuer-managed rather than DAO-based. No QQQx-specific founder, CEO, on-chain governance process, token-holder voting system, or public development repository was provided in the validated source material. The organizational structure includes Backed Assets (JE) Limited as issuer, Backed Finance AG as tokenizer, Security Agent Services AG, and broker or custodian service providers including Alpaca Securities LLC, InCore Bank AG, and Maerki Baumann & Co. AG. Regulatory context is central to the product: xStocks documentation states that products are not intended for U.S. persons or prohibited jurisdictions, and BitMart notes investment and jurisdictional restrictions. No QQQx-specific hack, exploit, chain freeze, or enforcement action was documented in the provided master summary.",
  "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": 0
  },
  "decentralizationVerdict": "Centralized Leaning"
}