> ## Documentation Index
> Fetch the complete documentation index at: https://docs.vanna.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Tokenized Stocks

> xStocks on Solana as margin collateral, priced by Kamino Scope, and stock perps on Phoenix.

## The tokens

| Token | Issuer | Program | Decimals | Role in Vanna |
| - | - | - | - | - |
| NVDAx | xStocks (Backed) | Token-2022 | 8 | Collateral only |
| GOOGLx | xStocks (Backed) | Token-2022 | 8 | Collateral only |
| AAPLx | xStocks (Backed) | Token-2022 | 8 | Collateral only |
| TSLAx | xStocks (Backed) | Token-2022 | 8 | Collateral only |

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.

## 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.

## 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.

## 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](https://docs.vanna.finance/solana/learn/perps-on-phoenix.md).
* **Delta-neutral**: the TSLA and META basis vaults hold spot exposure to the stock against a Phoenix short. See [Yield Vaults](https://docs.vanna.finance/solana/learn/yield-vaults.md).

Transfer fees, if a Token-2022 mint ever has one, are measured on every move. Quotes and health use the amount that actually arrived.


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