# Oracle tokenized stock (xStock) / Oracle xStock (ORCLX): D-Score 50/100 — Moderately Decentralized

**BlockIndex D-Score: 50/100 (Moderately Decentralized).** Oracle tokenized stock (xStock) / Oracle xStock (ORCLX) is a Layer 2 cryptocurrency using Other consensus. Oracle xStock: Tokenized Oracle Corporation stock exposure issued by Backed on SPL and ERC-20 rails.

_Source: https://blockindex.ai/coin/orclx · Data by BlockIndex.AI · Updated 2026-06-19_

## D-Score breakdown (0-100, higher means more decentralized)
| Component | Score |
| --- | --- |
| Overall D-Score | 50 |
| Node distribution | 0 |
| Initial distribution | 25 |
| Governance | 16 |
| Age and history | 9 |
| Autonomy | 0 |

## Key facts
- Layer: Layer 2
- Consensus: Other (N/A)
- Launch: Other (2025)
- Founder: N/A
- VC funded: No
- Max supply: N/A
- Circulating: 283,359

## Market data (as of 2026-06-19)
- Price: $185.07
- Market cap: $52.44M
- 24h volume: $2,896.58
- 24h change: +2.41% · 7d change: -1.34%

## About
Oracle tokenized stock (xStock), commonly shown as Oracle xStock or ORCLx, is a tokenized stock tracker certificate designed to provide blockchain-based exposure to the price of Oracle Corporation shares. It is not an independent cryptocurrency network, base-layer blockchain, or validator-based protocol. The product is issued by Backed Assets (JE) Limited and tokenized by Backed Finance AG as part of the broader Backed and xStocks tokenized equity ecosystem. The earliest explicit ORCLx product-page date in the supplied source material is June 30, 2025, when Backed's product page listed the ORCLx details and disclosed issuer, network, fee, service-provider, and underlying-asset information. Backed describes the product as access-restricted and not offered to U.S. persons or persons located in the United States.

Technically, ORCLX is implemented as a tokenized financial asset on existing blockchain rails rather than through its own consensus system. The source material identifies Solana SPL and ERC-20 issuance, with explorer and contract visibility across Solana, Ethereum, BNB Smart Chain, and Arbitrum-related resources. Because ORCLX does not produce blocks, operate miners, run validators, or maintain a native node network, blockchain-native metrics such as mining algorithm, block timing, block reward, staking rewards, and native chain size do not apply directly. Its security and settlement properties depend on the parent networks where each token deployment exists.

The primary use case is regulated tokenized exposure to Oracle Corporation stock-price performance for eligible cryptocurrency market participants. ORCLX fits within the real-world asset and tokenized equity category, with market visibility through CoinMarketCap, CoinGecko, RWA.xyz, DefiLlama RWA tracking, Raydium CLMM presence, and multiple block explorers. The token is listed across centralized and decentralized trading venues, and wallet support spans hardware, desktop, mobile, and browser-extension wallets. Its ecosystem is therefore closer to tokenized capital markets infrastructure than to a decentralized application platform or payment blockchain.

ORCLX tokenomics are tied to tracker-certificate issuance and redemption mechanics rather than mined emission or fixed protocol rewards. The supplied summaries list circulating-supply snapshots including 283.35K ORCLX and 283,359 ORCLX from CoinMarketCap-related data, while CoinGecko-related context showed different supply figures at the time of extraction. No ICO, public launch allocation, premine, dev fund, miner tax, or protocol incentive schedule was documented for ORCLX. Backed's product materials indicate issuance and redemption fees up to 0.50%, no current management fee, and the possibility of a future management fee up to 0.25% per year.

Governance is issuer-managed rather than DAO-based. No ORCLX token-holder governance, on-chain voting process, community treasury, or decentralized proposal system was documented in the supplied material. Product terms, access restrictions, and updates appear to be managed by Backed Assets (JE) Limited and Backed Finance AG within a regulated tokenized asset framework. The main forward-looking considerations are legal eligibility, jurisdictional restrictions, continued market-data and exchange support, parent-chain availability, and the evolution of Backed's broader xStocks tokenized equities product line.

## Links
- Website: https://assets.backed.fi/products/oracle-xstock
- Whitepaper: https://docs.backed.fi/
- GitHub: N/A

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About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore