Tokenized Stocks vs Stock Perpetual Futures
Tokenized stocks and stock perpetual futures can both connect onchain markets with traditional assets, but they are not interchangeable. Their rights, mechanics and risks are different.
What is a tokenized stock?
A tokenized stock is a digital token whose legal and economic characteristics depend on its issuer and offering documents. It may provide specified economic exposure to an underlying security, but should not be assumed to be the same as holding a share directly.
What is a stock perpetual?
A stock perpetual is a derivative contract referencing a stock or equity market. It generally supports long or short exposure and uses margin and funding mechanics. It does not itself confer share ownership.
Key differences
Tokenized securities may be designed to represent economic exposure under issuer terms and may have transfer, redemption or eligibility conditions. Perpetuals are leveraged derivatives with margin, funding and liquidation rules. Read each instrument's documentation.
How they may interact
Where a platform supports eligible tokenized assets as collateral, tokenized holdings may be used to support derivative positions. Availability, accepted assets, haircuts and risk limits are platform-specific and can change.
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Frequently Asked Questions
Do tokenized stocks give shareholder voting rights?
Not necessarily. Rights depend on the token's legal structure and offering documents. Never assume a token confers direct shareholder rights.
Does a stock perp represent ownership?
No. A perpetual futures contract is a derivative and does not itself grant ownership or shareholder rights in the referenced company.
Can tokenized stocks be collateral for perps?
Some platforms support selected tokenized assets as collateral. Check the current eligible collateral list and applicable valuation and margin rules.
Which instrument uses leverage?
Perpetual futures commonly use margin and leverage. A tokenized stock may be held without leverage unless used in a separate borrowing or derivatives strategy.
Are the risks the same?
No. Tokenized assets may involve issuer, custody, legal, redemption and transfer risks. Perpetuals add leverage, funding, liquidation, liquidity and basis risks.