Mantle announced on June 13 that it has listed SPCXx, a tokenized SpaceX equity issued by xStocks. According to Mantle, the asset began 24/7 on-chain trading on the same day SpaceX completed what the announcement described as the largest IPO in history. The launch places the tokenized equity into Mantle’s on-chain trading environment from the first day of listing.
SPCXx goes live through Fluxion and Merchant Moe
The SPCXx asset is being introduced through two Mantle ecosystem platforms: Fluxion and Merchant Moe. Fluxion uses xStocks’ Atomic RFQ mechanism, which supports direct minting and redemption by the issuer. Mantle said this structure fully avoids AMM slippage and enables institution-grade execution for the tokenized asset.
Merchant Moe is also supporting the launch through a liquidity incentive program called “Project X.” Under the program, Merchant Moe is deploying 100,000 MNT as rewards for liquidity providers. The first phase opens the SPCXx/USDT0 pool, providing liquidity support for SPCXx trading within the Mantle ecosystem.
A repeated model for tokenized stocks on Mantle
Mantle said SPCXx is the first tokenized stock to arrive on-chain on the same day as its public-market listing. The company described the launch as a seamless connection between the traditional market and the on-chain market for one of the decade’s most anticipated IPOs, with trading available around the clock on-chain.
According to Mantle’s stated plan, more high-demand tokenized stocks will be listed on Mantle using the same structure: xStocks will issue the assets, Fluxion will handle execution, and Merchant Moe will provide liquidity incentives. SPCXx is the first asset highlighted under this model.