What is Robinhood tokenized stock (xStock) (HOODX)?

Deep Dive

1. Purpose & Value Proposition

HOODX bridges traditional equities and crypto markets by tokenizing Robinhood’s stock. Each token represents a share held by Backed Finance, a regulated Swiss issuer (Backed Finance). This lets global users (excluding U.S. persons) trade Robinhood equity 24/7 on crypto exchanges like Gate.io, bypassing traditional market hours and brokerage restrictions.

2. Technology & Architecture

HOODX uses dual blockchain standards (Solana SPL and Ethereum ERC-20) for cross-chain interoperability. Tokens are fully collateralized, with real-time audits ensuring 1:1 backing. The infrastructure supports fractional trading (e.g., buying $10 of HOODX) and integrates with decentralized finance (DeFi) protocols for lending or liquidity provision.

3. Key Differentiators

Unlike Robinhood’s own stock (HOOD), HOODX offers:
- Leveraged trading: Up to 10x via perpetual futures on Gate.io (Gate announcement).
- On-chain utility: Transfer tokens between wallets or use them as collateral in DeFi.
- Global access: Available in jurisdictions where Robinhood stock isn’t directly tradable, except restricted regions.

Conclusion

HOODX reimagines equity trading by merging stock exposure with crypto’s flexibility, targeting users seeking seamless access to traditional assets via blockchain. As tokenized real-world assets gain traction, will HOODX’s compliance-first model set a standard for cross-market interoperability?