According to TechFlow, Mantle announced on June 13 the launch of SPCXx, a tokenized SpaceX equity product issued by xStocks. The asset began 24/7 on-chain trading on the same day that SpaceX completed what Mantle described as the largest IPO in history, adding a new tokenized stock product to the Mantle ecosystem.
SPCXx Goes Live Through Fluxion and Merchant Moe
Mantle said SPCXx has been launched through two Mantle ecosystem platforms: Fluxion and Merchant Moe. Fluxion uses xStocks’ Atomic RFQ mechanism, which supports direct minting and redemption by the issuer. According to Mantle, this structure fully avoids AMM slippage and provides institutional-grade execution for the tokenized equity product.
At the same time, Merchant Moe introduced its “Project X” incentive program. The program deploys 100,000 MNT as rewards for liquidity providers, with the first phase opening the SPCXx/USDT0 pool. This gives SPCXx a dedicated on-chain liquidity venue within the Mantle ecosystem.
xStocks Issuance, Fluxion Execution, Merchant Moe Incentives
Mantle stated that SPCXx is the first tokenized stock to land on-chain on its first day of listing. In Mantle’s description, the launch connects one of the most anticipated IPOs of the decade with on-chain markets, linking traditional market access and blockchain-based trading in a single process.
Mantle also said that more high-demand tokenized stocks will follow the same model on Mantle: issued by xStocks, executed through Fluxion, and supported with liquidity incentives from Merchant Moe. The SPCXx launch places tokenized stock issuance, on-chain execution, and liquidity rewards into one coordinated ecosystem workflow.