How PortX works

Ondo Global Markets is the leading platform for tokenized US stocks and ETFs, with over $1B in total value locked. It issues blockchain tokens — denoted with an “on” suffix (NVDAon, TSLAon, SPYon), which we collectively call xxxon. Each xxxon is a structured note that delivers the total return of the underlying share — price movements plus reinvested dividends — and is collateralized 1:1 by the underlying securities held with regulated broker-dealers. Holders gain economic exposure to the equity, not shareholder voting rights. xxxon tokens are freely transferable ERC-20 tokens on Ethereum. See ondo.finance and the Ondo app.

Unlike typical launchpads whose curve reserve is a stablecoin, every PortX coin's reserve is an xxxon. Your coin's value is therefore anchored to a real stock. PortX does not issue, custody, or redeem the equity — it only routes and trades the freely-transferable xxxon on-chain.

Coins are priced directly in their reserve xxxon. First acquire the xxxon with ETH or USDC on 1inch — Ondo mints it 1:1 against a real share bought and custodied at a regulated broker-dealer (selling later redeems it the same way). Then trade the coin against that xxxon on its Uniswap v4 pool, straight from your own wallet — non-custodial, no middleman. Because the reserve is a live equity, a coin can appreciate even with no new buyers when the underlying stock rises.

Each coin trades on a constant-product bonding curve against its xxxon reserve: price = (reserve × xxxon price) / supply. Every coin is a fair launch — no presale, no team allocation — and the reserve's USD value is read live from the on-chain xxxon price. The curve runs inside a Uniswap v4 hook, so quotes and fills are the same contract.

Once the bonding curve fills, the coin graduates: its remaining supply and accumulated xxxon seed a Uniswap v4 coin / xxxon pool at the curve's final price, and the liquidity is permanently locked by the hook (add/remove revert forever) — no rug, no team unlock. A flat 1% fee applies to post-graduation trades.

PortX coins trade 24/7. Both the xxxon reserve and the bonding curve live on-chain and trade around the clock — there is no market-hours restriction, so you can buy and sell your coin anytime.

Everything runs on public, non-custodial contracts on Ethereum. Trades route through Uniswap's official UniversalRouter — PortX deploys no router of its own and never holds your funds. The factory and hook source are verified and open on Etherscan — read them line by line.

• Factory0x88B128…BAEE0B ↗
• Hook (bonding curve)0xb16739…522ACC ↗