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The tokens

xStocks are not lending pools in Vanna. You can’t supply or borrow them. You can hold them in a margin account, borrow USDC, USDT or SOL against them, and swap into or out of them through Jupiter or Titan.

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Pricing

Each xStock is priced from Kamino’s Scope aggregator (Chainlink xStocks and Pyth Lazer, cross-checked by Scope), with the same freshness and TWAP limits Kamino’s own reserves use. The xStock price already applies the mint’s scaled-UI multiplier, so it prices one raw token. Amounts in the app are raw token amounts, which can differ slightly from wallets that apply the multiplier.

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Issuer controls

The xStocks’ issuer keeps powers such as a freeze authority. Vanna registers such mints only with an explicit accept_issuer_controls, and a frozen vault counts for nothing in the health factor.

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Stock exposure without the token

  • Long with leverage: borrow USDC and swap it into an xStock inside the margin account.
  • Stock perps: Phoenix lists TSLA and META perps. See Perps on Phoenix.
  • Delta-neutral: the TSLA and META basis vaults hold spot exposure to the stock against a Phoenix short. See Yield Vaults.
Transfer fees, if a Token-2022 mint ever has one, are measured on every move. Quotes and health use the amount that actually arrived.