Woofun AI reports that Backpack has deployed a tokenized stock product representing equity in SpaceX, listed on the Solana blockchain. The instrument facilitates round-the-clock trading and allows users to maintain self-custody of their assets while retaining the option to redeem tokens for actual SpaceX shares.

Concurrently, the product integrates with Solana decentralized exchanges to provide on-chain liquidity and ensures compatibility with broader DeFi applications.

Furthermore, it employs a rebase mechanism to automatically manage dividend distributions and other corporate actions.