TQQQ tokenized ETF (xStock) (TQQQX): D-Score 46/100 — Moderately Decentralized BlockIndex D-Score: 46/100 (Moderately Decentralized). TQQQ tokenized ETF (xStock) (TQQQX) is a Layer 2 cryptocurrency using Other consensus. TQQQX: Tokenized ETF tracker certificate offering blockchain-based exposure to ProShares UltraPro QQQ through xStocks. Source: https://blockindex.ai/coin/tqqqx · Data by BlockIndex.AI · Updated 2026-06-19 D-Score breakdown (0-100, higher means more decentralized) Component: Score: Overall D-Score: 46: Node distribution: 0: Initial distribution: 25: Governance: 16: Age and history: 5: Autonomy: 0: Key facts - Layer: Layer 2 - Consensus: Other (N/A) - Launch: Other - Founder: N/A - VC funded: No - Max supply: N/A - Circulating: 655,673 Market data (as of 2026-06-19) - Price: $81.15 - Market cap: $53.21M - 24h volume: $12,530.54 - 24h change: +1.75% · 7d change: +5.21% About TQQQ tokenized ETF (xStock), listed as TQQQX and also described as TQQQ xStock or TQQQx, is a tokenized tracker certificate designed to follow the price exposure of ProShares UltraPro QQQ. The product is part of the xStocks framework powered by Backed and is intended to give eligible cryptocurrency market participants blockchain-based access to a traditional-market instrument. Unlike a native cryptocurrency network, TQQQX does not operate its own blockchain, validator set, mining system, or consensus protocol. It is an issued tokenized real-world asset representing exposure to an underlying leveraged ETF rather than an independent decentralized protocol. The asset is issued across multiple host-chain environments, with source data identifying Solana SPL and ERC-20 token formats and explorer coverage across Solana, Ethereum, BNB Smart Chain, and Arbitrum. Its primary technical function is tokenized representation and transferability of a tracker certificate, supported by existing blockchain infrastructure rather than by TQQQX-specific infrastructure. Contract references include the Solana token address XsjQP3iMAaQ3kQScQKthQpx9ALRbjKAjQtHg6TFomoc and an EVM address of 0xfdddb57878ef9d6f681ec4381dcb626b9e69ac86. Oracle proof references in the source data include Chainlink Proof of Reserve and The Network Firm through Backed product material. TQQQX's use case is focused on tokenized access to ProShares UltraPro QQQ, a leveraged ETF targeting three times the daily performance of the Nasdaq-100 Index. Because the underlying ETF is designed around daily leveraged exposure, the source summary emphasizes that it is primarily suited to short-term trading and brief holding periods rather than passive long-term holding. The product sits within the tokenized asset, real-world asset, and tokenized ETF categories, combining market-data visibility, exchange access, and blockchain transfer rails for eligible users. Tokenomics are issuer-driven rather than mined. CoinMarketCap data in the provided summary lists a price of $84.66, market capitalization of $55.51 million, 24-hour trading volume of $17.24 thousand, total supply of 655,670 TQQQX, circulating supply of 655,670 TQQQX, and 100% circulating percentage based on equal total and circulating supply. CoinMarketCap reports an all-time high of $94.78 on June 1, 2026, while CoinGecko data in the events section separately reports an all-time high of $235.95 on October 29, 2025 and an all-time low of $38.79 on March 30, 2026. No premine, public initial percentage, mining reward, staking reward, or native monetary issuance schedule is provided. Governance and operations appear centralized around Backed and the xStocks framework rather than a DAO. The source data identifies Backed-related official material, documentation, product pages, terms, and regulatory notices, but it does not provide founder names, a CEO, a GitHub repository, a public roadmap, on-chain governance, or community treasury details. Regulatory restrictions are material: the provided official-site scrape states that Backed products are prohibited for U.S. citizens, U.S. residents, and U.S. taxable persons, and that the securities are not registered under the U.S. Securities Act of 1933 or with U.S. state securities regulators. Links - Website: https://xstocks.com/ - Whitepaper: https://docs.backed.fi/ - GitHub: N/A --- 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