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[HOST] Welcome to X1 Report, your source for the latest in blockchain news. Today, we're diving

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into the launch of NVIDIA stock on the X1 blockchain.

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[ANALYST] NVIDIA has become the second stock to reach X1, following Tesla's successful launch. Jack

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Levin confirmed this on X, detailing the process and implications.

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[HOST] The token is NVDA.X, known as 'NVIDIA xStock,' a Token-2022 mint at

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4JfDXUw8N7b1VJ1og1K3Nc4Z6nwtWxWJUSQKYBcdsiJz with eight decimals.

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[ANALYST] Its metadata points to the x1-labs/assets repository, describing it as 'Bridged NVIDIA

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xStock on X1,' and its terms are linked to Backed Assets' legal documentation.

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[HOST] The mint has existed since Friday, with shares arriving Monday. The creation of NVDA.X was

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part of a batch of four tokens.

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[ANALYST] Its history is short: four setup calls on 11 September to create the mint, initialise

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metadata, and hand over authorities.

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[HOST] The shares themselves landed on 14 September, with a total supply of 0.55077255 tokens,

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roughly half of one NVIDIA share.

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[ANALYST] This is a lock-and-mint wrapper, not a native issuance. The real xStock stays in custody

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on Solana, while X1 mints a representation against it.

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[HOST] Seven more tickers are already minted and waiting: Tesla, SpaceX, SP500, Coinbase, Meta,

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Alphabet, and AMD. Only SpaceX's xStock is live.

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[ANALYST] The Tesla pool on XDEX trades against XNT at 5Ur9GUzt6v9zjL3TSzveVDfZuZMLcfKCMMv9qodj9cZA

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with about $187 of liquidity.

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[HOST] This thin pool has printed a 15% discount against the Nasdaq close, highlighting the need

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for depth in price discovery.

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[ANALYST] The honest summary is that NVDA.X is bridged, real, and not yet a market. Half a share

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exists on X1, with no liquidity to speak of.

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[HOST] The open lane for liquidity providers is clear: seven tickers with no supply, one ticker

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with no XNT pair, and a fee stream with no competition.

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[ANALYST] However, the position comes with real risk. Being the sole liquidity provider in a thin

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pair against a volatile underlying can lead to impermanent loss.

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[HOST] Three key points carry over from Tesla's launch: xStocks are certificates, not shares;

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corporate actions arrive through multipliers; and the bridge is a trust assumption.

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[ANALYST] The shipping cadence is not the bottleneck. Liquidity is. The network is still young, but

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the shipping speed is impressive.