MicroStrategy xStock (MSTR)
Unlock Schedule
MicroStrategy xStock (MSTR) Token Unlock & Vesting Schedule
The unlock chart above provides a clear visual overview of the MicroStrategy xStock (MSTR) token release schedule, showing when and how tokens enter circulation across investor, team, treasury, and community allocations. Understanding these tokenomics dynamics is critical for evaluating potential supply pressure, inflation impact, and market liquidity over time — key factors that can influence MSTR price performance.
Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.
Tokenomics & Utility
MicroStrategy xStock tokenomics
1:1 backing: Each MicroStrategy xStock unit targets full backing against the economic exposure of a MicroStrategy share through a legally defined certificate program (Backed) or a fully backed tokenized equity program (Dinari). (assets.backed.fi)
Program structure: Backed’s xStocks are issued under an EU-passportable base prospectus approved by the Liechtenstein FMA, with products offered as certificates that track the stock. Tokens exist on-chain as SPL or ERC-20 and can be freely transferred subject to legal gating by distributors. (assets.backed.fi)
Fees: Backed’s public dashboards list zero management fees for certain xStocks at issuance, though exchanges and DeFi protocols can charge trading or platform fees. Always review the product’s factsheet and venue fee schedule. (app.rwa.xyz)
Utility in practice
Portfolio mobility: Move exposure between exchanges, wallets, and apps as a token, rather than waiting on traditional settlement rails.
DeFi actions: Provide liquidity, borrow against holdings, or construct strategies that combine the MSTR token with stablecoins and other assets. This is the essence of “MicroStrategy xStock DeFi, NFTs, gaming”—using the token as a component inside decentralized apps, with potential future tie-ins to token-gated experiences or game economies that recognize tokenized equities as in-game or account-bound assets. (ffnews.com)
Interoperability: The token can sit alongside crypto assets in the same wallet, making portfolio construction simpler for on-chain users.
How MSTR price behaves on-chain
The MSTR price for tokenized versions is designed to track the underlying stock. Divergences can occur during market stress or when certain venues are closed, but creation/redemption and arbitrage aim to pull prices back into line. This dynamic is similar to how ETF shares track an index through authorized participants. (prnewswire.com)
Assumptions
- Supply is uncapped and open-ended; xStocks are issued and redeemed on demand against 1:1 underlying equity collateral.
Issuer’s Final Terms/Base Prospectus define open-ended tracker certificates with ongoing primary issuance and redemption; no fixed cap.
- Genesis date approximated as 2026-01-31.
Final Terms indicate a prior set dated 2026-01-30 and state the expected issue date is one day after publication; used as earliest documented issuance date.
- No dividend-driven supply changes modeled.
MicroStrategy (underlying MSTR) states it has never declared or paid cash dividends on Class A/B common stock; xStocks docs note dividends would be handled via on-chain rebasing, but none apply here to date.
- Circulating supply used for minted-to-date amount is 760,382 MSTRX as of 2026-07-23.
Best available public figure from a major aggregator; issuer does not publish consolidated cross-chain supply on a single page.
- Linear distribution between 2026-01-31 and 2026-07-23 is an approximation for visualization only.
Actual minting is event-based via primary issuance or in-kind xPort; monthly linearization enables a monthly cumulative chart while keeping totals exact.
- Ticker in source materials is MSTRX/MSTRx; the provided symbol 'MSTR' refers to the NASDAQ equity, not the token.
Issuer product page and Final Terms identify the token as MSTRx; exchanges/trackers list MSTRX.
- 1. https://assets.backed.fi/products/microstrategy-xstock
- 2. https://assets.backed.fi/legal-documentation
- 3. https://sppdownloaddocumentservice.l-p-a.com/api/DownloadDocument/UPI/CH1436219633/BF%20Final%20Terms%20AND%20Summary%20%28PDF%29
- 4. https://docs.xstocks.fi/docs/how-xstocks-work
- 5. https://www.sec.gov/Archives/edgar/data/1050446/000105044626000020/mstr-20251231.htm
- 6. https://coinmarketcap.com/currencies/microstrategy-tokenized-stock-xstock/
Allocations
Description
#392
MicroStrategy is an enterprise software company that develops analytics and business intelligence platforms for cloud and on-premises use. Since 2020, it is also known for holding large amounts of Bitcoin as a corporate asset.
| Sector: | Tokenized Stocks |
| Blockchain: | Solana |