Sam Schubert(@minnus):.@Backpack's liquidity model was different from launch. Prop AMMs handled 64% of its volume in the first full week, while @xStocksFi was overwhelmingly pool-based. Tokenizing the same stock does not mean getting the same market structure.

Sam Schubert

@minnus

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

Joined May 2023

6.1K Following 4K Followers

Sam Schubert@minnus

2026.09.22 20:00

.@Backpack's liquidity model was different from launch. Prop AMMs handled 64% of its volume in the first full week, while @xStocksFi was overwhelmingly pool-based. Tokenizing the same stock does not mean getting the same market structure.

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