Sam Schubert(@minnus):@Backpack has quickly become the dominant issuer in tokenized equity DEX volume. The market was mostly xStocks and PreStocks through April and May. Since mid-June, Backpack-issued equities have taken majority share on most days. Having its stocks be fungible is a key selling point imo. As fungibility is also important for market makers, which in turn creates better execution for users trading tokenized stocks.

Sam Schubert

@minnus

@Blockworks_ @blockworksres | prev @Citi | views are my own

Joined May 2023

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Sam Schubert@minnus

2026.07.04 20:33

@Backpack has quickly become the dominant issuer in tokenized equity DEX volume. The market was mostly xStocks and PreStocks through April and May. Since mid-June, Backpack-issued equities have taken majority share on most days. Having its stocks be fungible is a key selling point imo. As fungibility is also important for market makers, which in turn creates better execution for users trading tokenized stocks.