Edel Stocks
Reference-asset exposure in native Canton instruments, with economic backing and cash redemption for approved participants.
From reference asset to Canton instrument
We issue the native Canton instrument and maintain its economic backing. Holders use compatible wallets and secondary applications; primary minting and redemption require separate approval.
The Edel Stocks model
- Step
- On Canton
- Planned
6 parts and 5 connections.
Read as text
- Edel Stocks → Edel Stock (backs and issues)
- Reference asset → Edel Stock (defines exposure)
- Edel Stock → Hold and trade
- Edel Stock → Approved redemption
- Edel Stock → Eligible stock margin (planned) [planned]
What defines an Edel Stock
Reference exposure
Contractual
Each token is a contractual debt instrument tied to a reference asset, providing economic exposure without direct share ownership or statutory shareholder rights.
Native instrument
Canton
Issued on Canton, with holdings and transfers supported through compatible wallets and applications.
Economic backing
1:1
Edel maintains economic backing for the exposure represented by tokens in circulation, through direct holdings or equivalent tokenised instruments. One token is not necessarily one share.
Dividends and adjustments
Total return
Dividends and corporate actions can adjust exposure through the multiplier, without issuing extra tokens for that adjustment.
Primary redemption
Cash
Approved redeemers can burn tokens for the corresponding cash value. Selling on a secondary market transfers tokens to another buyer.
Stocks as margin
Planned
The planned Margin Layer would let eligible stock tokens support Markets perpetuals, under defined collateral valuation and risk rules.
What an Edel Stock represents
The instrument and its holder
- Step
- Participant
4 parts and 3 connections.
Read as text
- Reference asset → Edel Stock (economic performance)
- Edel Stocks → Edel Stock (issues)
- Edel Stock → Tokenholder (held by)
Each Edel Stock is a contractual debt instrument. The instrument tracks a specified reference asset and is designed to provide total-return economic exposure, including the economic benefit of dividends.
Edel maintains 1:1 economic backing for Edel Stocks in circulation. The exposure may be held directly in the underlying security or through tokenised instruments providing equivalent economic exposure. The token’s multiplier determines exposure per unit.
Instruments and availability
SPYe, QQQe, NVDAe and SPCXe are issued. More instruments are coming soon. The Public Stocks API publishes each instrument’s identity, multiplier and indicative prices.
| Instrument | Reference asset | Status |
|---|---|---|
| SPYe | SPY | Issued |
| QQQe | QQQ | Issued |
| NVDAe | NVIDIA | Issued |
| SPCXe | SpaceX | Issued |
| More instruments | To be announced | Coming soon |
Holding, trading and redemption
Hold and transfer Edel Stocks through compatible Canton applications, and trade existing tokens on supported secondary markets, subject to applicable restrictions.
Primary minting and redemption are operated by Edel for approved participants. Redemption burns tokens for the corresponding cash value; selling on a secondary venue transfers tokens to another buyer. Learn about access and eligibility and issuance and redemption.
Explore Edel Stocks
Instruments and access
Explore issued instruments, holder rights, access requirements and risks.
Issuance and redemption
Understand primary minting, economic backing and cash redemption for approved participants.
Pricing and corporate actions
Understand implied value, market prices, dividends and multiplier adjustments.
Architecture and integration
Explore issuance and custody responsibilities, integration requirements and the planned Margin Layer.
Public Stocks API
Read instruments, multipliers, indicative prices and corporate actions. No API key required.
Risk considerations
Understand reference-asset, issuer, liquidity and operational risks.