Equities your agent can hold, on two different clocks.
NVDAx, TSLAx, SPYx and nine others: permissioned ERC-20s backed one-for-one by shares held at a custodian and recorded by a regulated transfer agent. None of them exist yet — no instrument is issued and no counterparty is engaged. The design is below, including the gap between "the token moves in a block" and "the register moves T+1", which is the whole problem.
What these are, and four things they are not
A tokenized equity on Strix Hood is a permissioned ERC-20 whose supply is collateralised one-for-one by shares held in custody. The transfer agent maintains the register of record; the token is a claim that mirrors it. Transfers are gated at the token contract by an allow-list keyed to jurisdiction and investor class, so compliance is enforced in code rather than in your prompt.
The point of holding them here is not that they are cheaper. It is that an agent can hold an equity leg and a crypto leg on one balance sheet and settle both inside a single intent, under a single policy, with a single receipt.
They are not
Not synthetics. Not CFDs or perpetuals. Not a claim on us. Not a way around your own jurisdiction’s rules — the allow-list is the same list your broker would apply, encoded at the token.
One share, one token, attested daily
The custodian publishes a signed attestation of holdings every business day at 17:30 ET. Supply above attested holdings halts minting at the contract level, not by policy.
Dividends pass through; votes do not
Cash dividends are distributed in USDC on the payment date. Voting rights stay with the custodian as nominee — if you need to vote, hold the underlying somewhere else.
Positions freeze on record dates
Splits, mergers and special dividends freeze transfers for the record date. This is the least elegant part of the product and we have not found a version that is both honest and seamless.
The transfer-agent model, end to end
Six parties, two clocks. The agent sees one fill; underneath, the onchain leg settles against the custodian’s float and the market leg settles into the register the next business day.
Without it, an agent buying NVDAx would wait until T+1 for a fill, which makes an equity leg useless inside an atomic intent. The custodian takes the intraday risk and is paid for it out of the spread. The float is capped per symbol and the cap is published.
Fills queue instead of minting, and the intent reports QUEUED_FLOAT rather than silently becoming a slow fill. Your agent can cancel, wait, or route the notional to its crypto leg — that decision is yours, expressed in policy.
Twelve instruments, none of them issued
Sort by symbol, price or change. Selecting one loads it into the sizer below.
Testnet carries no real equity flow, and we will not paint a fake tape with a real feed’s branding on it. The figures below are a seeded random walk anchored to plausible reference levels, updating every four seconds. Crypto prices elsewhere on this site are live from Binance and labelled as such.
| Trend | Spread | Min size | Underlying cap | Actions |
|---|
Size a trade
LIVE CALCULATIONSpread cost is the published half-spread for the symbol. The protocol fee is 0.25% of notional and is the same for equity and crypto legs. Broker commission is zero; the broker is paid from the spread.
Crypto never closes. Equities do.
The session state below is computed from your own device clock against America/New_York, so it is genuinely live — including the part where it says the market is shut.
Reading your clock…
- Spot, NFT and agent-to-agent legs settle continuously, including weekends.
- A mixed intent can be half-settled across a weekend; that is an explicit intent state, not a failure.
- Gas and solver competition, not market hours, set the crypto leg’s cost.
| Window (ET) | Equity legs | Spread | Max size | Crypto legs |
|---|---|---|---|---|
| 04:00 – 09:30 | Pre-market routing | 2–4× published | 25% of standard | Normal |
| 09:30 – 16:00 | Regular session | Published | Full | Normal |
| 16:00 – 20:00 | After hours | 2–5× published | 25% of standard | Normal |
| 20:00 – 04:00 | Queued to next open | — | — | Normal |
| Sat / Sun / holidays | Queued to Monday | — | — | Normal |
Who holds what, and what happens when they fail
Six functions, six parties, deliberately separated. The interesting column is the last one.
None of these seats are filled. No transfer agent, custodian, broker-dealer, compliance provider or accountant is engaged, and no tokenized equity exists. This is the counterparty structure the product requires, published so it can be argued with before anyone is signed — not a description of relationships we have.
| Function | Held by | What they actually hold | If they fail |
|---|---|---|---|
| Register of record | Regulated transfer agent | The legal record of who owns the shares. | Token balances become claims in a workout rather than ownership. This is the single point that matters most. |
| Custody | Qualified custodian | The shares themselves, segregated from the custodian’s own assets. | Segregation means client assets are not part of the estate. Recovery is slow, not zero. |
| Execution | Broker-dealer | Nothing overnight. Routes orders under best-execution obligations. | Routing halts; existing positions unaffected. A second broker is part of the intended structure and is not contracted. |
| Token contract | Strix Hood Labs | Supply, allow-list, freeze. Upgradeable behind a 48-hour timelock. | A bug in the allow-list gate is a compliance incident. Unaudited so far; the timelock is your warning window. |
| Allow-list | Compliance provider | Jurisdiction and investor-class attestations per address. | New addresses cannot be onboarded. Existing holders keep transferring. |
| Attestation | Independent accountant | Signed daily statement of custodied holdings against supply. | Minting halts at the contract when the attestation is stale beyond 48 hours. |
Not available everywhere
The allow-list is keyed to jurisdiction and investor class. US persons cannot hold these tokens on testnet or mainnet under the current structure. The gate is at the token, so an agent cannot route around it.
You still owe what you owe
Dividends are taxable events in most jurisdictions and withholding is applied at source by the custodian. We publish the transaction record; we do not produce tax documents.
Every leg has a receipt
Receipts carry both timestamps — onchain settlement and register settlement — plus the attestation hash in force at fill time. Export is available through the API.
Stated plainly, because the alternative is worse
This is a wrapper around a traditional instrument with several intermediaries. Each one adds a way for you to lose money that holding the share directly would not.
- Counterparty risk you do not have with a broker. Custodian, transfer agent and issuer are three additional entities between you and the share. Any one of them failing is your problem.
- The register is the truth, not the token. If the two ever disagree, the register wins and your token becomes a claim. The daily attestation exists to make disagreement detectable, not impossible.
- Liquidity is thinner than the underlying. The float is capped per symbol. In a fast market you may be queued while the underlying trades freely.
- Extended-hours pricing is worse and sometimes much worse. Published spreads apply during regular hours only. A 2 a.m. equity leg is a bad idea your policy should probably forbid.
- Corporate actions freeze you. Transfers halt across record dates. If you need to exit during one, you cannot.
- Smart-contract risk is added, not replaced. The token contract is audited and behind a 48-hour timelock. That reduces the risk; it does not remove it.
- Regulatory risk is live. The structure depends on a specific reading of securities rules in a specific jurisdiction. That reading can change, and if it does, redemption may be forced.
- No investor-protection scheme covers this. Not SIPC, not FSCS, not an equivalent. The protections you get are segregation and attestation, and those are weaker.
Hold the underlying with a broker. It is cheaper, better protected and simpler. Tokenized equities are worth the added risk only if you specifically need an agent to settle an equity leg atomically against a crypto leg — which is a real need, and a narrow one.
- Daily independent attestation, with minting halted when it goes stale.
- Per-symbol float caps published and enforced at the contract.
- 48-hour timelock on every token-contract upgrade.
- Extended-hours size limits applied whether or not your policy sets them.
- Both settlement timestamps on every receipt, so a divergence is visible to you before it is visible to us.
One intent. Both legs. One receipt.
An agent that can hold NVDAx and ETH on the same balance sheet can hedge one against the other without a bridge, a wire or a second account. That is the entire reason this exists.