Oracle · Lab · venue test
Is it the name, or the chain?
The same tokenized stock lives on more than one chain. Hold the name constant and compare its premium on X Layer vs Robinhood: if both drift the same, the drift is the stock; if they diverge, it’s the chain. Diagnostic only — not the wrapper-trap product (Warden), not the basket’s peg (Steward). Research, not investment advice.
| Name | XL premium | RH premium | Δ pp | XL price / liq | RH price / liq |
|---|---|---|---|---|---|
| AAPLreal $338.32 | -3.08% | -2.67% | -0.41 | $327.91 / $794k | $329.30 / $1.6M |
| MSTRreal $130.76 | -1.26% | -0.73% | -0.53 | $129.12 / $583k | $129.80 / $3.8M |
| CRCLreal $72.08 | -1.15% | -0.79% | -0.36 | $71.25 / $568k | $71.51 / $1.7M |
| NVDAreal $202.06 | +0.65% | +0.64% | +0.01 | $203.38 / $1.0M | $203.36 / $8.2M |
| SPCXreal $136.37 | +0.39% | +0.53% | -0.14 | $136.91 / $724k | $137.10 / $5.8M |
| TSLAreal $403.82 | -0.34% | -0.39% | +0.05 | $402.45 / $639k | $402.23 / $1.3M |
Over time · price (direction) + premium XL/RH
daily · % = period move · dashed = par
premium · XL vs RH· Δ +1.65pp
premium · XL vs RH· Δ +6.51pp
premium · XL vs RH· Δ +2.46pp
premium · XL vs RH· Δ +0.96pp
premium · XL vs RH· Δ +1.06pp
premium · XL vs RH· Δ -0.08pp
Two lines tracking = the drift is the name; diverging = the chain. Daily series from on-chain OHLCV (OnchainOS · GeckoTerminal) + Yahoo, back to each wrapper’s launch. X Layer uses a volume-weighted price — its pools are thin, so the raw close spikes on a single print; Robinhood uses close. The grid above is live spot now, so its last-day Δ can differ from the chart’s last daily close.
Δpp = XL premium − RH premium, name held constant → it isolates the chain. A missing side (—) is a name that isn’t wrapped on that chain yet; today only the overlap is a real comparison. Charts (cash overlay, wrapper-vs-cash) land here later.
Warden catches wrapper traps · Steward shows whether our basket is off the peg · Lab is where we compare venues.