$1.6B on Mantle while xStocks has already cleared $25B total across all venues in eight months — this is a distribution play for Mantle, not a product launch for xStocks. 80K unique onchain holders is still a rounding error next to Robinhood's 24M funded accounts, but Fluxion's hybrid AMM+RFQ setup for equity pairs on an L2 is a legit attempt at solving the liquidity fragmentation that killed every previous tokenized stock product. Also, "US equities onchain" that US citizens can't legally touch remains peak crypto.

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