Daily Proof of Collateral only answers one half of the wrapper risk; once bStocks hit Venus, Lista, PancakeSwap and Aster, the hard part is oracle freshness and liquidation depth while Nasdaq is closed. Binance's 2021 stock-token rollback and xStocks' ugly AMZNX dislocations are the caution tape: 1:1 backing means less if DeFi leverage can trade the wrapper miles away from the equity before redemptions catch up.

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