Eli Lilly xStockPrice

(LLYX)

Eli Lilly xStock, identified by the ticker llyx, is a Web3 project that offers a tokenized version of Eli Lilly and Company stock. It functions as a tracker certificate issued as digital tokens on blockchain networks, specifically Solana and Ethereum. The primary goal of the project is to provide eligible cryptocurrency market participants with regulatory compliant access to the price performance of Eli Lilly and Company while utilizing the advantages of blockchain technology. The tokens are issued by Backed Assets, a project managed by Backed Finance. Each llyx token is designed to be backed on a one to one basis by actual shares of Eli Lilly and Company. These underlying shares are held in custody by regulated third party financial institutions and brokers, such as Alpaca Securities and InCore Bank. This structure ensures that the digital asset maintains a direct link to the physical shares held in traditional financial systems. By using blockchain technology, the project allows for the integration of traditional equities into decentralized finance ecosystems. This enables features such as the ability to hold the assets in self hosted wallets and the potential for fractional ownership. However, it is important to note that holding these tokens does not grant the holder direct ownership of the underlying company shares. Consequently, holders do not receive traditional shareholder rights, such as voting power or direct communication from the company issuer. The project operates under a regulated framework, and access is typically restricted to eligible investors in specific jurisdictions. It is not available to residents of the United States and other restricted regions. The service providers involved include the tokenizer, brokers, and security agents who ensure the legal and technical maintenance of the tracker certificates. In summary, llyx serves as a bridge between traditional pharmaceutical equity and the digital asset space. It allows users to gain exposure to one of the worlds largest healthcare companies through a digital format that is compatible with various blockchain applications and decentralized platforms. Learn more

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