Portx Docs

Introduction

Portx is a permissionless protocol on Solana for binding a token to a real stock. Instead of pricing a token in SOL, its market is denominated in a tokenized equity — an xStock. A creator picks a reserve such as NVIDIA or the S&P 500, and the token trades on a bonding curve quoted in that stock. As the underlying equity moves, so does the token's reference value.

The result is a new kind of market — the openness and composability of on-chain tokens, anchored to assets people already recognize. No brokerage, no intermediaries — just a wallet.

Tokenized equities (xStocks)

xStocks are SPL Token-2022 tokens issued by Backed Finance, each fully collateralized 1:1 by the underlying listed share held with a regulated custodian. They carry a ScaledUiAmount extension whose multiplier tracks the live equity price, so a single raw unit of NVDAx means a fractional share of NVIDIA at today's quote.

Because they are real, transferable, composable tokens, xStocks can plug into DeFi the way any token can — and that is exactly what portx leans on. Portx does not issue, custody, or redeem these stocks; it treats them as black-box reserve assets and routes all pricing through their on-chain value.

Why portx

Open, on-chain token markets have proven they drive real attention and volume — but those tokens are usually backed by nothing. Meanwhile real-world assets are moving on-chain, yet stay locked in slow, traditional venues. Portx bridges the two:

• Recognizable exposure. A token's market is anchored to a blue-chip equity, tying its narrative to a real company or index.
• Open access. Equity-linked exposure on-chain, permissionless, without intermediaries.
• Fair price discovery. A transparent on-chain curve, then a real AMM market once listed.
• Composability. Listed tokens live in open liquidity pools, usable across Solana DeFi.

The vision: an open layer where culture and capital markets meet — every token anchored to something real.

The bonding curve

Each token trades against a sqrt-price concentrated-liquidity curve — the same price representation used by modern AMMs. Buying pushes price up along the curve; selling pushes it back down. The curve is priced entirely in the reserve xStock, and it is oracle-free after creation: the live equity price feeds in only once, at creation, to set the starting and listing prices.

This design means the curve price moves smoothly and predictably, and hands off to the post-listing market at exactly the right price with no gap.

Issuing a token

1. Pick a reserve. Choose one of the supported xStocks to back your curve.
2. Set identity. Name, symbol, logo, description.
3. Optionally buy first. Make an initial purchase in the same transaction.
4. Issue. A fresh token is minted with a fixed supply of 1,000,000,000.

80% of supply sits on the curve for trading; 20% is reserved to seed the listing market. Tokens open at a small reference market cap and list once the curve fills.

Trading

Anyone can buy or sell against the curve while it is live. Trades settle instantly in the reserve xStock. A small trading fee applies per swap and is taken in the reserve asset — it never affects the curve price itself.

Before listing, tokens are non-transferable outside the curve. This keeps price discovery fair by preventing off-market pools from forming at stale prices.

Listing

Once the curve fills to its listing threshold, trading on the curve closes and liquidity migrates to a Meteora DLMM pool paired with the reserve xStock. The token becomes freely transferable and tradable across Solana. From that point, the live chart is powered by GeckoTerminal for the new pool.

Reserves

Supported xStock reserves, each with its own identity color across the app:

FAQ