Backpack Securities and Sunrise launched the Macron equivalent moU on Solana, with only a few days left to launch the Micron quarterly financial report. As Micron is one of the few companies worldwide that produces high bandwidth memory, its financials are seen by the market as an important observation point for the AI hardware chain, and this time, it has received attention.

MU supports all-weather transactions

According to the article, the MU was published by Backpack Securities and accessed through Sunrise Solana DeFi. Sunrise is an asset channel based on Wormhole, which is primarily responsible for introducing off-chain assets into the Solana network. Once online, the MU can trade 24 hours on the chain.

Backpack CEO Armani Ferrante states that the MU will continue to trade on the chain after the publication of the Microron financial paper, free of the time limit for regular US stock transactions. He added that each MU had its own real shares, which could be redeemed by 1:1 and could be transferred to the traditional voucher system.

Unlike the chain-based stock product, which provides only partial price mapping, the article states that Backpack ' s monetized shares also support company action and dividends distribution. This means that it is designed closer to convertible chain securities, rather than just price-exposure tools.

Stock trading in the Solana chain

According to the article, this time the MU went online to continue the heat generated by the previous SpaceX-related monetized stock product. Currencyized stock exchanges on Solana have recently expanded significantly, and the chain stock market has re-energized.

According to Blockworks, the solana monetized stock block traded more than $1.2 billion a week, representing more than 95 per cent of the whole chain market. According to this article, Solana is becoming the main implementation network on this track.

Competing data attention

It is mentioned that the SPCX transactions issued by Backpack are the most active and one of the most important sources of recently traded quantities. However, the number of weekends traded by competitors xStocks is also rising, indicating that tokenization competition on Solana is increasing.

The article also mentions the recent high turnover of some of the assets under the flag of xstocks, including NVDAx and SPYx. However, the question remains as to whether these deals are exclusively from natural needs.

  • NVDAx Some Raydium pool over $547.7 million
  • Liquidity in the counterpart pool is approximately $306 million
  • SPYx Some Orca pool is about $21 million

According to the article, such high turnover rates may mean increased market activity and may be associated with incentive trading activities. Since xStocks has not yet issued platform tokens and other issuers, such as Ondo, have not yet reached a similar level of user activity, some market participants view BP as an indirect representative of the assets of Solana token stock. According to the text, the BP has increased by 379% in the past 30 days.