NVIDIA is the second stock to reach X1. Jack Levin confirmed it on X on Monday, in the flat, unceremonious register he tends to use for things that took weeks to arrange:
TSLAx is joined by NVDAx on X1 blockchain, you can trade those on XDEX. More stonks are coming
The token is NVDA.X, "NVIDIA xStock," a Token-2022 mint at 4JfDXUw8N7b1VJ1og1K3Nc4Z6nwtWxWJUSQKYBcdsiJz with eight decimals. Its metadata resolves to the x1-labs/assets repository, describes it as "Bridged NVIDIA xStock on X1," and points its terms at Backed Assets' legal documentation — the same issuer behind xStocks and the same paperwork that sits behind TSLA.X. Update authority is the X1 Labs key that controls the Tesla mint. Mint authority belongs to the bridge.
Four days ago this was a promise. Now it is a contract address, and the gap between those two things is where the interesting detail lives.
The mint has existed since Friday. The shares arrived Monday.
NVDA.X was created at 20:26:01 UTC on 11 September — twenty seconds after TSLA.X, and in the same batch of four. Its history is short enough to read in full: four setup calls on 11 September to create the mint, initialise the metadata, hand the mint authority to the bridge and the update authority to X1 Labs, and then nothing at all for three days.
The shares themselves landed on 14 September, in two BridgeInV2 calls against X1's Warp bridge at 6JbPTuxVuoTgyQeXFb9MH8C8nUY8NBbLP1Lu4B13JfMD — one at 12:38:08 UTC, one at 22:24:00 UTC, each logging Signature count: 5 against Threshold: 5. Total NVDA.X supply on X1 today is 0.55077255 tokens, roughly half of one NVIDIA share, held across three wallets.
This is a lock-and-mint wrapper, not a native issuance: the real xStock stays in custody on Solana, and X1 mints a representation against it. Nothing about the bridge changes because the underlying is equity rather than a coin.
Seven more tickers are already minted and waiting
"More stonks are coming" is usually the part of an announcement you file under intent. In this case it is already on-chain, and the chain is more specific than the tweet.
Late on 14 September, forty minutes before Levin posted, X1 Labs committed metadata for five additional xStocks to its asset repository. Between 23:26:12 and 23:28:06 UTC the same wallet that created NVDA.X created five more Token-2022 mints. Together with the 11 September batch, nine tokenized equities now exist on X1 mainnet:
| Ticker | Name | Created | Supply on X1 |
|---|---|---|---|
| TSLA.X | Tesla xStock | 11 Sep | 1.52232164 |
| NVDA.X | NVIDIA xStock | 11 Sep | 0.55077255 |
| SPCX.X | SpaceX xStock | 11 Sep | 0 |
| SPY.X | SP500 xStock | 11 Sep | 0 |
| COIN.X | Coinbase xStock | 14 Sep | 0 |
| META.X | Meta xStock | 14 Sep | 0 |
| GOOGL.X | Alphabet xStock | 14 Sep | 0 |
| AMD.X | AMD xStock | 14 Sep | 0 |
| PLTR.X | Palantir xStock | 14 Sep | 0 |
Seven of the nine have a live mint, published metadata, a logo and a supply of exactly zero. The rails are built; nobody has walked down them yet. SPCX.X is the one worth staring at — SpaceX is a private company, and the xStocks version is a pre-IPO product, so its presence on that list says something about how far the wrapper is meant to stretch.
What "you can trade those on XDEX" means today
It means the permission exists, not that the depth does. And the distinction matters more for NVDA.X than the tweet lets on, because there is no XNT pair for it. TSLA.X has one. NVIDIA does not. For anyone holding XNT and wanting NVIDIA exposure on X1, the direct route simply has not been built yet.
The Tesla pool is the useful preview of what happens when it is. TSLA.X trades against XNT at 5Ur9GUzt6v9zjL3TSzveVDfZuZMLcfKCMMv9qodj9cZA with about $187 of liquidity, and at that size the quote does what any thin constant-product pool does: it printed $305.78 against a Nasdaq close of $358.97 on 14 September — a 15% discount that says nothing whatsoever about Tesla. Price discovery needs depth that a pool a few days old has not had time to attract.
So the honest summary of NVDA.X right now is that it is bridged, it is real, and it is not yet a market. Half a share exists on X1 and none of it has anywhere liquid to go.
The open lane, and who collects the fees
This is the part Levin's post leaves implicit, and it is the most actionable fact in the story.
Bridging an xStock to X1 is permissionless — the mint exists, the bridge accepts it, and anyone holding NVDAx on Solana can bring it across. So is creating a pool. On XDEX the swap fee is retained inside the pool rather than swept to a treasury, which is what makes a liquidity position grow relative to the tokens deposited. Whoever holds the LP tokens collects it pro rata. If one person seeds a pair and nobody else adds liquidity, that person earns all of the fees that pair generates.
The rate is not published anywhere obvious, but it can be recovered from the chain. Solving the constant-product curve backwards across the TSLA.X/XNT pool's trade history puts it at 0.30% of the input — a figure that reconciles to the pool's reserves to within 0.001% on its largest swaps and holds across every trade the pool has seen.
So the position on offer is unglamorous but clear: seven tickers with no supply, one ticker with no XNT pair, and a fee stream that currently has no competition. It is also a position with real risk attached — being the sole liquidity provider in a thin pair against a volatile underlying is how you find out what impermanent loss feels like, and a pool seeded with a few hundred dollars will be quoted against by the first person who brings a few thousand.
Before you size anything
Three things carry over from the Tesla launch and apply here unchanged.
The wrapper is a certificate, not a share. xStocks are issued by Backed Assets, collateralised 1:1 by the underlying held with a regulated custodian and redeemable for cash value or the underlying. You do not get voting rights. What you get is a claim that tracks the price — a meaningfully different instrument from the tokenized debt securities we covered when Levin first said stocks would trade on X1.
Corporate actions arrive through a multiplier, not a payout. Backed does not pay cash dividends on-chain. It publishes a multiplier that starts at 1.0 and moves with reinvested dividends and splits, activating at 00:30 UTC the day after the ex-date. Levin's position is that X1 is 1:1 with xStocks and mirrors whatever they do. NVIDIA's dividend is small enough that this is mostly a splits question — but it is the mechanism to watch, and it has not yet been exercised on an X1-bridged mint.
The bridge is a trust assumption. X1's Warp bridge is a guardian multisig running a five-of-five threshold. That is the same machinery behind wSOL, cbBTC and Wormhole ETH on X1, and it is the reason the equities got here in days rather than through an issuance agreement with the issuer, a process measured in quarters. It is a reasonable trade for a network this young. It is still a trade.
Levin said stocks would trade on X1 on 8 September. Tesla arrived on the 11th, NVIDIA on the 14th, and five more mints were standing by before the announcement went out. Whatever else is true, the shipping cadence is not the bottleneck. Liquidity is.