Is that tokenized asset actually sound?
Assay rates tokenized real-world assets on five transparent pillars — live peg integrity, backing & reserves, issuer & legal standing, liquidity, and redemption rights. Every point is explained. Unverified claims score conservatively.
Sector watch
2026-05-13 — Fake pre-IPO tokens voided by Anthropic and OpenAI
Solana tokens marketed as Anthropic/OpenAI pre-IPO exposure fell ~40% in a session after both companies declared the underlying share transfers void; Anthropic named four platforms. SEC reports pre-IPO crypto fraud up ~40% YoY. A token on a blockchain is not automatically a claim on anything. Verify the issuer, the legal claim, and the reserves.
2026-07-02 — Tokenized stocks failing as DeFi collateral
Industry coverage documented tokenized stocks failing as collateral even when the underlying stock price did not move — peg and redemption behavior, not the stock, was the risk. Peg quality is a live risk dimension independent of the underlying asset.
Ratings
| # | Asset | Grade | Score | Peg p95 7d (bps) | Weekend p95 | Liquidity | Issuer |
|---|---|---|---|---|---|---|---|
| 1 | SPYx SP500 xStock | B+ | 72.5 | 139.6 | 134 | $2,050,206 | xStocks (Backed) |
| 2 | QQQx Nasdaq-100 xStock | B+ | 72.1 | 153.1 | 135.5 | $2,630,821 | xStocks (Backed) |
| 3 | TSLAx Tesla xStock | B+ | 68.1 | 228.3 | 76.6 | $1,879,450 | xStocks (Backed) |
| 4 | AAPLx Apple xStock | B+ | 67.8 | 127.8 | 119.9 | $54,364 | xStocks (Backed) |
| 5 | GOOGLx Alphabet xStock | B+ | 67.3 | 182 | 116.4 | $276,994 | xStocks (Backed) |
| 6 | AMZNx Amazon xStock | B+ | 66.2 | 202.2 | 93.1 | $231,963 | xStocks (Backed) |
| 7 | METAx Meta xStock | B+ | 65.2 | 194.1 | 110.2 | $110,954 | xStocks (Backed) |
| 8 | COINx Coinbase xStock | B | 61.7 | 248.9 | 213.4 | $660,870 | xStocks (Backed) |
| 9 | CRCLx Circle xStock | B | 60.7 | 358 | 226.7 | $2,879,823 | xStocks (Backed) |
| 10 | MSFTx Microsoft xStock | B | 60.3 | 505.6 | 121.3 | $320,586 | xStocks (Backed) |
| 11 | NVDAx NVIDIA xStock | B | 56 | — | — | — | xStocks (Backed) |
| 12 | MSTRx MicroStrategy xStock | B | 55.7 | 344.6 | 312.1 | $647,589 | xStocks (Backed) |
Peg columns are measured on-chain vs the underlying's last trade every 5 minutes. Full methodology →